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. To try to find similar patterns within sets of data






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






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






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






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






6. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






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






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






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






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






11. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






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






13. Moral standards that guide marketing decisions and actions






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






15. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






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






17. Goods that a business customer consumes in a relatively short time






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






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






20. What is left after taxes






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






22. A product people often buy on the spur of the moment






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






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






25. Costs involved in using a product






26. The last consumers to adopt the innovation






27. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top






28. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






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






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






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






32. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






33. 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






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






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






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






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






38. A pricing strategy that considers the lifetime cost of using the product






39. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace






40. 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






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






42. Basic or necessary items that are available almost everywhere






43. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






44. A strategy of ducking under a competitor's price by a fixed percentage






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






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






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






48. An aggregating process - clustering people with similar needs into a "market segment"






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






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