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






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






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






4. 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






5. The loss of sales of an existing product when a new item in a product line or product family is introduced






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






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






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






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






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






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






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






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






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






15. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






16. Costs involved in using a product






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






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






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






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






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






22. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






23. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






24. 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






25. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






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






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






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






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






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






31. Income that is adjusted to take out the effects of inflation on purchasing power






32. A new product that copies with slight modification the design of an original product






33. 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






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






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






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






37. Costs involved in moving from one brand to another






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






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






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






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






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






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






44. 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






45. Moral standards that guide marketing decisions and actions






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






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






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






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






50. Brands that the manufacturer of the product owns