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 decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue






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






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






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






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






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






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






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






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






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






11. An internal state that drives us to satisfy needs by activating goal-oriented behavior






12. To try to find similar patterns within sets of data






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






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






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






16. 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






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






18. 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






19. When each family unit produces everything it consumes






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






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






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






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






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






25. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






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






28. 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






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






30. 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






31. Costs involved in using a product






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






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






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






35. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






36. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






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






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






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






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






41. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






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






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






44. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






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






46. 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






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






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






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






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