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

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

3. A survey of customers regarding the types and quantities of products they intend to buy during a specific period

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

5. 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

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

7. People over 65

8. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer

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

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

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

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

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

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

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

16. A flexible pricing strategy that reflects what individual customers are willing to pay

17. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention

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

19. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas

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

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

22. 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

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

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

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

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

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

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

29. Pricing intended to establish a desired image or positioning to prospective customers

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

31. A social process that directs an economy

32. Products we purchase when we're in dire need

33. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli

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

35. The value of a brand to an organization

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

37. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm

38. The last consumers to adopt the innovation

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

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

41. 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

42. 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

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

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

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

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

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

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

50. A strategy where prices are set significantly higher than competing brands