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






2. The relative importance of perceived consequences of the purchase to a consumer






3. The practice of setting a limited number of different specific prices - called price points - for items in a product line






4. A means of characterizing consumers based on the different family stages they pass through as they grow older






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






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






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






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






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






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






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






12. 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






13. 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






14. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






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






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






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






18. 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






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 survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






21. What is left of disposable income after paying for necessities






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






23. The value that customers give up - or exchange - to obtain a desired product






24. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






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






26. Learning that occurs as the result of rewards of punishments






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






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






29. A social process that directs an economy






30. 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






31. A new product that copies with slight modification the design of an original product






32. The last consumers to adopt the innovation






33. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






34. Costs involved in using a product






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






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






37. 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






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






39. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






42. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






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






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






45. Moral standards that guide marketing decisions and actions






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






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






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






49. A pricing tactic in which the seller absorbs the total cost of transportation






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