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 process by which people select - organize - and interpret information form the outside world






2. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






3. 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






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






5. Selling two or more goods or services as a single package for one price






6. Costs involved in moving from one brand to another






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






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






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






10. Costs of production that do not change with the number of units produced






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






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






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






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






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






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






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






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






19. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






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






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






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






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






25. 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






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






27. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






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






29. The actual interaction between the customer and the service provider






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






31. The value of a brand to an organization






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






33. Costs involved in using a product






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






35. Charging a very high - premium price for a new product






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






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






38. The last consumers to adopt the innovation






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






40. 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






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






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






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






44. 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






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






46. What is left after taxes






47. The relative importance of perceived consequences of the purchase to a consumer






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






49. Pricing that is intended to maximize customer satisfaction and retention






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