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






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






3. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






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






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






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






7. The last consumers to adopt the innovation






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






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






10. What is left after taxes






11. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue






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






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






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






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






16. 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






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






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






19. The process by which the use of a product spreads throughout the population






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






21. Learning that occurs as the result of rewards of punishments






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






23. The pricing strategy of setting prices below cost to attract customers into a store






24. The practice of setting a limited number of different specific prices - called price points - for items in a product line






25. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories






26. Costs involved in moving from one brand to another






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






28. 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






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






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






31. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






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






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






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






35. 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






36. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






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






38. Aim at one or more homogeneous segments and try to develop different marketing mix for each






39. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






40. Those that actually affect the customers purchase of specific product or brand in a product market






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






42. 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






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






44. The value of a brand to an organization






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






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






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






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






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






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