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. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






2. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






3. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






4. Communicating with large numbers of customers at the same time






5. Sales forecasting based on the intuition of one or more executives






6. E-commerce that allows shoppers to purchase products through online bidding






7. A fairly homogeneous group of customers to whom a company wishes to appeal






8. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






9. What is left after taxes






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






11. Costs involved in moving from one brand to another






12. A brand that a group of individual products or individual brands share






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






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






15. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






16. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top






17. 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






18. Discounts based on the total quantity bought within a specified time period






19. The process by which organization adjust their offering in an attempt to match demand






20. Relevant to including a customer type in a product market






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






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






23. The physical good or the delivered service that supplies the desired benefit






24. An internal state that drives us to satisfy needs by activating goal-oriented behavior






25. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group






26. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






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






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






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






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






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






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






33. The practice of setting a limited number of different specific prices - called price points - for items in a product line






34. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






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






36. 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






37. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






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






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






41. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






43. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






44. Pricing products to maximize sales or to attain a desired level of sales or market share






45. People over 65






46. A change in beliefs or actions as a reaction to real or imagined group pressure






47. 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






48. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






49. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






50. A manager who is responsible for developing and implementing the marketing plan for a single brand






Can you answer 50 questions in 15 minutes?



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