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. Learning that occurs as the result of rewards of punishments






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






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






4. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






5. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






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






7. Costs involved in using a product






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






9. What is left after taxes






10. The relative importance of perceived consequences of the purchase to a consumer






11. A pricing strategy that considers the lifetime cost of using the product






12. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






13. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






14. Moral standards that guide marketing decisions and actions






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






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






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






18. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






19. A firm's total product offering designed to satisfy a single need or desire of target customers






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






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






22. 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






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






24. An arrangement unique to business marketing in which two organizations agree to buy from each other






25. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention






26. The first segment (2.5%) of a population to adopt a new product






27. The process of eliminating interaction between customers and service providers






28. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






29. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






30. What is left of disposable income after paying for necessities






31. A new product that does not reach expectations for success - failing to reach sales objectives set






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






33. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






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






35. When each family unit produces everything it consumes






36. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes






37. Charging a very high - premium price for a new product






38. An organizational unit that focuses on some product markets and is treated as a separate profit center






39. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






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






41. The value of a brand to an organization






42. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






43. 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






44. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






45. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






46. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






47. The value of something that is given up to obtain something else






48. Refers to the generation born immediately following the baby boom - from 1965-1977






49. Those who adopt an innovation early in the diffusion process but later than the innovators






50. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer