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






2. 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






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






4. All the benefits the product will provide for consumers or business customers






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






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






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






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






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






10. Sometimes called millenials - refer to those born from 1978-1994






11. 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






12. 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






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






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






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






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






17. The loss of sales of an existing product when a new item in a product line or product family is introduced






18. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






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






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






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






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






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






24. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






27. A social process that directs an economy






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






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






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






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






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






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






34. E-commerce that allows shoppers to purchase products through online bidding






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






36. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






37. Communicating with large numbers of customers at the same time






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






39. The first segment (2.5%) of a population to adopt a new product






40. People whose children are grown and who are now able to spend their money in other ways






41. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






42. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






43. Products that consumers purchase to signal membership in a desirable social class






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






45. The belief that use of a product has potentially negative consequences - either financial - physical or social






46. People born between 1946 and 1964






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






48. To try to increase the size of their target markets by combining two or more segments






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






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