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






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






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






4. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






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






6. 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






7. Moral standards that guide marketing decisions and actions






8. Basic or necessary items that are available almost everywhere






9. A mental rule of thumb that leads to a speedy decision by simplifying the process






10. An integrated economic and social unit wit a large population nucleus






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






12. 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






13. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






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






15. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories






16. What is left after taxes






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






18. To try to find similar patterns within sets of data






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






20. 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






21. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






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






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






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






25. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






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






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






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






29. 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






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






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






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






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






34. The process by which the use of a product spreads throughout the population






35. A situation in which an increase or a decrease in price will not significantly affect demand for the product






36. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






37. 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






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






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






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






41. 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






42. 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






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






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






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






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






47. 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






48. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






49. People born between 1946 and 1964






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