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






2. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






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






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






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






6. A new product sold with the same brand name as a strong existing brand






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






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






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






10. When each family unit produces everything it consumes






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






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






13. Costs involved in using a product






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






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






16. Pricing products to maximize sales or to attain a desired level of sales or market share






17. 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






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






19. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences






20. Aim at one or more homogeneous segments and try to develop different marketing mix for each






21. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas






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






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






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






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






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






27. A pricing tactic in which customers in different geographic zones pay different transportation rates






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






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






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






31. Tangible products we can see - touch - smell - hear - taste






32. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






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






35. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






36. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






37. A situation in which an increase or a decrease in price will not significantly affect demand for the product






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






39. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






40. 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






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






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






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






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






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






46. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






47. The value of something that is given up to obtain something else






48. 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






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






50. A practice of charging different prices to a different customers to manage capacity while maximizing revenues