Test your basic knowledge |

Marketing Basics

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. E-commerce that allows shoppers to purchase products through online bidding






2. Products that exhibit consistently high velocity sales in the consumer marketplace






3. The final stage in the product life cycle - in which sales decrease as customer needs change






4. A means of measuring a website's success by tracking customers' movement around the company website






5. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






6. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






7. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






8. A strategy of ducking under a competitor's price by a fixed percentage






9. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






10. Pricing that is intended to have an effect on the marketing efforts of the competition






11. All the benefits the product will provide for consumers or business customers






12. Products we purchase when we're in dire need






13. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






14. Number of babies born per 1000 people fluctuated greatly in last 65 years






15. To try to increase the size of their target markets by combining two or more segments






16. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






17. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






18. Segmenting the market and picking one of the homogeneous segments as the firms target market






19. The difference between the cost of the product and the selling price of the product






20. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






21. The psychological characteristics that consistently influence the way a person responds to situations in the environment






22. A pricing tactic of charging reduced prices for larger quantities of product






23. People whose children are grown and who are now able to spend their money in other ways






24. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






25. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






26. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






27. Brands that are owned and sold by a specific - retailer or distributor






28. The strategy of selling products at unreasonably low prices to drive competitors out of business






29. A social process that directs an economy






30. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






31. The process by which people select - organize - and interpret information form the outside world






32. Costs involved in using a product






33. The collaboration of two or more firms in setting prices - usually to keep prices high






34. The dimensions that consumers use to compare completing product alternatives






35. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






36. People born between 1946 and 1964






37. Pricing intended to establish a desired image or positioning to prospective customers






38. A change in an existing product that requires a moderate amount of learning or behavior change






39. Discounts based only on the quantity purchased in individual orders






40. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






41. A new product that copies with slight modification the design of an original product






42. The pricing strategy of setting prices below cost to attract customers into a store






43. The regret or remorse buyers may feel after making a purchase






44. The percentage change in unit sales that results from a percentage change in price






45. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






46. A relatively permanent change in behavior caused by acquired information or experience






47. Those that actually affect the customers purchase of specific product or brand in a product market






48. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






49. Extent to which a firm fulfills a customers needs - desires - and expectations






50. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires