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






2. A strategy where prices are set significantly higher than competing brands






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






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






5. A price-setting method based on estimated of demand at different prices






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






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






8. Brands that the manufacturer of the product owns






9. Moral standards that guide marketing decisions and actions






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






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






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






13. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






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






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






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






17. When a percentage change in price results in a larger percentage change in the quantity demanded






18. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






19. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






20. Goods that a business customer consumes in a relatively short time






21. Pricing that is intended to maximize customer satisfaction and retention






22. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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






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






25. Tohose whose adoption to a new product signals a general acceptance of the innovation






26. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






27. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities






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






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






30. The value of a brand to an organization






31. The seller fine tunes the marketing effort with info from a detailed customer database






32. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






33. The set of alternative brands the consumer is considering for the decision process






34. Pricing a new product low for a limited period of time to lower the risk for a customer






35. 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






36. 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






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






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






39. People over 65






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






41. A new product sold with the same brand name as a strong existing brand






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






43. 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






44. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas






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






46. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






47. Costs involved in moving from one brand to another






48. An agreement between two brands to work together in marketing new or existing products






49. Products that consumers purchase to signal membership in a desirable social class






50. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri