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






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






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






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






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






6. Costs of production that do not change with the number of units produced






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






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






9. 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






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






11. 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






12. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item






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






14. 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






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






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






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






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






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






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






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






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






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






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






25. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






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






28. A firm's total product offering designed to satisfy a single need or desire of target customers






29. 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






30. 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






31. 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






32. 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






33. People born between 1946 and 1964






34. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






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






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






37. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






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






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






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






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






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






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






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






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






46. Moral standards that guide marketing decisions and actions






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






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






49. Costs involved in using a product






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







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