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 third and longest stage in the product life cycle - in which sales peak and profit margin narrows






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






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






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






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






6. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






7. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






9. A social process that directs an economy






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






11. 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






12. The process of eliminating interaction between customers and service providers






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






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






15. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






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






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






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






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






20. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






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






23. Costs involved in moving from one brand to another






24. 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






25. Brands that the manufacturer of the product owns






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






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






28. 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






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






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






31. The difference between the cost of the product and the selling price of the product






32. To try to increase the size of their target markets by combining two or more segments






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






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






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






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






37. 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






38. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






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






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






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






42. 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






43. 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






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






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






46. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






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






48. 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






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






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