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






2. A pricing tactic in which customers in different geographic zones pay different transportation rates






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






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






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






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






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






8. Products created when firms transform raw materials from their original state






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






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






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






12. Pricing products with a focus on a target level of profit growth or a desired net profit margin






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






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






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






16. 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






17. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






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






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






20. Discounts based only on the quantity purchased in individual orders






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






22. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






23. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






24. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






25. The last consumers to adopt the innovation






26. 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






27. A product people often buy on the spur of the moment






28. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






30. A change in an existing product that requires a moderate amount of learning or behavior change






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






32. A modification of an existing product that sets one brand apart from its competitors






33. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






34. 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






35. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






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






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






38. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






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






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






41. 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






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






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






44. The collaboration of two or more firms in setting prices - usually to keep prices high






45. Tangible products we can see - touch - smell - hear - taste






46. The price the end customer is expected to pay as determined by the manufacturer






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






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






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






50. A marketing mix is tailored to fit some specific target customers