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. People over 65






2. The seller fine tunes the marketing effort with info from a detailed customer database






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






4. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






5. A homogeneous group of customers who will respond to a marketing mix in a similiar way






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






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






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






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






10. The belief that use of a product has potentially negative consequences - either financial - physical or social






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






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






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






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






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






16. 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






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






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






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






20. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






21. 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






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






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






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






25. Tohose whose adoption to a new product signals a general acceptance of the innovation






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






27. Extent to which a firm fulfills a customers needs - desires - and expectations






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






29. 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






30. 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






31. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






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






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






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






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






36. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






39. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






40. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






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






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






43. A price-setting method based on estimated of demand at different prices






44. All the benefits the product will provide for consumers or business customers






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






46. A change in beliefs or actions as a reaction to real or imagined group pressure






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






48. Sales forecasting based on the intuition of one or more executives






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






50. People born between 1946 and 1964