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






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






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






4. Products that exhibit consistently high velocity sales in the consumer marketplace






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






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






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






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






9. A pricing tactic of charging reduced prices for larger quantities of product






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






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






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






13. 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






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






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






16. Aim at one or more homogeneous segments and try to develop different marketing mix for each






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






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






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






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






21. 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






22. The division of a market according to benefits that consumers want from the product






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






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






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






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






27. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






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






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






30. The actual interaction between the customer and the service provider






31. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






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






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






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






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






36. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






37. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






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






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






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






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






42. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






43. 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






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






45. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






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






47. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






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






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






50. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time