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. Costs involved in moving from one brand to another






2. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






3. Sales forecasting based on the intuition of one or more executives






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






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






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






7. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






8. When each family unit produces everything it consumes






9. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






11. 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






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






13. A change in an existing product that requires a moderate amount of learning or behavior change






14. The value that customers give up - or exchange - to obtain a desired product






15. The practice of setting a limited number of different specific prices - called price points - for items in a product line






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






17. 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






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






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






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






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






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






23. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






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






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






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






27. Moral standards that guide marketing decisions and actions






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






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






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






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






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






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






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






35. Refers to the generation born immediately following the baby boom - from 1965-1977






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






37. What is left after taxes






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






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






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






41. Costs involved in using a product






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






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






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






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






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






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






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






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






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