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






2. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences






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






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






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






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






7. 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






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






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






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






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






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






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






14. People over 65






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






16. Relevant to including a customer type in a product market






17. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






18. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






19. A strategy of frequently using sale prices to increase sales volume






20. Products created when firms transform raw materials from their original state






21. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






22. The practice of exchanging a good or service for another good or service of like value






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






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






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






26. 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






27. Pricing that is intended to have an effect on the marketing efforts of the competition






28. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities






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






30. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






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






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






33. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






34. People born between 1946 and 1964






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






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






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






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






39. 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






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






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






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






44. 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






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






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






47. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






48. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






49. A fairly homogeneous group of customers to whom a company wishes to appeal






50. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue






Can you answer 50 questions in 15 minutes?



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