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






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






3. The percentage change in unit sales that results from a percentage change in price






4. A new product sold with the same brand name as a strong existing brand






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






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






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






8. Expensive goods that an organization uses in its daily operations that last for a long time






9. Combining two or more submarkets into one larger target market as a basis for one strategy






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






11. Refers to the generation born immediately following the baby boom - from 1965-1977






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






13. Basic or necessary items that are available almost everywhere






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






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






16. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






17. Costs involved in moving from one brand to another






18. 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






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






20. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






21. Pricing intended to establish a desired image or positioning to prospective customers






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






23. A strategy of experimenting with prices until the price that generates the highest profitability is found






24. The values - beliefs - customs - and tastes that a group of people value






25. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






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






27. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






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






29. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






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






31. The first segment (2.5%) of a population to adopt a new product






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






33. Products we purchase when we're in dire need






34. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






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






36. 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






37. Products that consumers purchase to signal membership in a desirable social class






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






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






40. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






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






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






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






44. The value of a brand to an organization






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






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






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






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






49. The physical good or the delivered service that supplies the desired benefit






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