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






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






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






4. A fairly homogeneous group of customers to whom a company wishes to appeal






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






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






7. The practice of exchanging a good or service for another good or service of like value






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






9. The actual interaction between the customer and the service provider






10. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






11. 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






12. A pricing tactic in which customers in different geographic zones pay different transportation rates






13. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






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






15. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






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






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






18. What is left after taxes






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






20. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






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






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






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






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






25. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






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






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






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






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






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






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






32. Brands that the manufacturer of the product owns






33. Selling two or more goods or services as a single package for one price






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






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






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






37. A pricing strategy that considers the lifetime cost of using the product






38. A social process that directs an economy






39. Combining two or more submarkets into one larger target market as a basis for one strategy






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






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






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






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






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






45. The last consumers to adopt the innovation






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






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






48. 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






49. 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






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






Can you answer 50 questions in 15 minutes?



Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests