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. Costs involved in using a product






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






3. What is left after taxes






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






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






6. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






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






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






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






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






11. Moral standards that guide marketing decisions and actions






12. The marketing mix is distinct from and better than what is available from a competitor






13. Group of people within an organization who focus exclusively on the development of a new product






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






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






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






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






18. When each family unit produces everything it consumes






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






20. Basic or necessary items that are available almost everywhere






21. Income that is adjusted to take out the effects of inflation on purchasing power






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






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






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






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






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






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






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






29. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item






30. Selling two or more goods or services as a single package for one price






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






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






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






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






35. 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






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






37. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






38. A flexible pricing strategy that reflects what individual customers are willing to pay






39. 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






40. People over 65






41. A totally new product that creates major changes in the way we live






42. Expensive goods that an organization uses in its daily operations that last for a long time






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






44. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






45. The practice of linking products to a particular social cause on an ongoing or short-term basis






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






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






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






49. The values - beliefs - customs - and tastes that a group of people value






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