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






2. The dimensions that consumers use to compare completing product alternatives






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






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






5. People born between 1946 and 1964






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






7. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes






8. 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






9. 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






10. 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






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






12. An arrangement unique to business marketing in which two organizations agree to buy from each other






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






14. A mental rule of thumb that leads to a speedy decision by simplifying the process






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






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






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






18. Brands that the manufacturer of the product owns






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






20. 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






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






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






23. 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






24. Costs involved in moving from one brand to another






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






26. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






28. What is left after taxes






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






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






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






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






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






34. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






35. Group of people within an organization who focus exclusively on the development of a new product






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






37. A means of measuring a website's success by tracking customers' movement around the company website






38. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






39. The price the end customer is expected to pay as determined by the manufacturer






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






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






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






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






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






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






46. 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






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






48. When a percentage change in price results in a smaller percentage change in the quantity demanded






49. Pricing a new product low for a limited period of time to lower the risk for a customer






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