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. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






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






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






5. The value of a brand to an organization






6. Costs involved in using a product






7. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






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






9. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






10. 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






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






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






13. What is left after taxes






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






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






16. The psychological characteristics that consistently influence the way a person responds to situations in the environment






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






18. 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






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






20. 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






21. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






22. 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






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






24. The collaboration of two or more firms in setting prices - usually to keep prices high






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






26. A totally new product that creates major changes in the way we live






27. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






28. A flexible pricing strategy that reflects what individual customers are willing to pay






29. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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






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






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






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






34. A homogeneous group of customers who will respond to a marketing mix in a similiar way






35. The pricing strategy of setting prices below cost to attract customers into a store






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






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






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






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






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






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






42. A modification of an existing product that sets one brand apart from its competitors






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






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






45. 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






46. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






47. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






49. Moral standards that guide marketing decisions and actions






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