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






2. Discounts based on the total quantity bought within a specified time period






3. A marketing mix is tailored to fit some specific target customers






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






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






6. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






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






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






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






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






11. A strategy of experimenting with prices until the price that generates the highest profitability is found






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






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






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






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






16. 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






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






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






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






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






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






22. 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






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






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






25. 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






26. The regret or remorse buyers may feel after making a purchase






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






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






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






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






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






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






33. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






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






35. 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






36. Pricing products with a focus on a target level of profit growth or a desired net profit margin






37. What is left after taxes






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






39. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






40. 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






41. The difference between the cost of the product and the selling price of the product






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






43. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






44. The practice of linking products to a particular social cause on an ongoing or short-term basis






45. Those who adopt an innovation early in the diffusion process but later than the innovators






46. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






47. Basic or necessary items that are available almost everywhere






48. The division of a market according to benefits that consumers want from the product






49. 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






50. Moral standards that guide marketing decisions and actions