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






2. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






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






4. When each family unit produces everything it consumes






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






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






7. 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






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






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






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






11. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






12. The process by which organization adjust their offering in an attempt to match demand






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






15. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences






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






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






18. Costs involved in using a product






19. 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






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






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






22. People born between 1946 and 1964






23. Segmenting the market and picking one of the homogeneous segments as the firms target market






24. A product that consumers perceive to be new and different form existing products






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






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






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






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






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






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






31. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace






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






33. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






34. An aggregating process - clustering people with similar needs into a "market segment"






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






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






37. The practice of exchanging a good or service for another good or service of like value






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






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






40. A strategy of frequently using sale prices to increase sales volume






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






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






43. The overall feelings or attitude a person has about a product after purchasing it






44. The value of a brand to an organization






45. A survey of customers regarding the types and quantities of products they intend to buy during a specific period






46. 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






47. Communicating with large numbers of customers at the same time






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






49. The loss of sales of an existing product when a new item in a product line or product family is introduced






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