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






2. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






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






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






5. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






6. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






7. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






8. An integrated economic and social unit wit a large population nucleus






9. The last consumers to adopt the innovation






10. The final stage in the product life cycle - in which sales decrease as customer needs change






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






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






13. 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






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






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






16. The seller fine tunes the marketing effort with info from a detailed customer database






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






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






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






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






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






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






23. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






24. 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






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






26. The overall feelings or attitude a person has about a product after purchasing it






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






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






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






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






31. When a percentage change in price results in a smaller percentage change in the quantity demanded






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






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






34. When each family unit produces everything it consumes






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






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






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






38. Costs involved in moving from one brand to another






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






40. Tohose whose adoption to a new product signals a general acceptance of the innovation






41. 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






42. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






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






44. People born between 1946 and 1964






45. The percentage change in unit sales that results from a percentage change in price






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






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






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






49. A price-setting method based on estimated of demand at different prices






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