Test your basic knowledge |

Marketing Basics

Subject : business-skills
  • 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. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events

2. The process of eliminating interaction between customers and service providers

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

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

5. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase

6. 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

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

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

9. The value of a brand to an organization

10. The process by which people select - organize - and interpret information form the outside world

11. 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

12. An agreement between two brands to work together in marketing new or existing products

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

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

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

16. 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

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

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

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

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

21. Manufactured goods or subassemblies of finished items that organizations need to complete their own product

22. Costs involved in using a product

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

24. Relevant to including a customer type in a product market

25. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses

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

27. A new product sold with the same brand name as a strong existing brand

28. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer

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

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

31. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group

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

33. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix

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

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

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

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

38. People born between 1946 and 1964

39. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes

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

41. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales

42. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs

43. The physical good or the delivered service that supplies the desired benefit

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

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

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

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

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

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

50. The difference between the cost of the product and the selling price of the product