Test your basic knowledge |

Marketing Basics

Subject : business-skills
  • Answer 50 questions in 15 minutes.
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  • 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. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief

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

3. People over 65

4. Theories of learning that focus on how consumer behavior is changed by external events or stimuli

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

6. 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

7. Products created when firms transform raw materials from their original state

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

9. A strategy of ducking under a competitor's price by a fixed percentage

10. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences

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

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

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

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

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

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

17. Group of people within an organization who focus exclusively on the development of a new product

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

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

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

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

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

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

24. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition

25. 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

26. The value of a brand to an organization

27. An organizational unit that focuses on some product markets and is treated as a separate profit center

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

29. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs

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

31. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes

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

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

34. What is left after taxes

35. The last consumers to adopt the innovation

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

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

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

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

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

41. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri

42. 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

43. When a percentage change in price results in a larger percentage change in the quantity demanded

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

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. A means of measuring a website's success by tracking customers' movement around the company website

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

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

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

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