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






2. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






3. 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






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






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






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






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






8. Segmenting the market and picking one of the homogeneous segments as the firms target market






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






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






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






13. A means of measuring a website's success by tracking customers' movement around the company website






14. 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






15. 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






16. 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






17. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






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






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






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






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






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






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






24. Charging a very high - premium price for a new product






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






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






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






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






29. Sales forecasting based on the intuition of one or more executives






30. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






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






33. Costs involved in moving from one brand to another






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






35. 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






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






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






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






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






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






41. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item






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






43. Pricing a new product low for a limited period of time to lower the risk for a customer






44. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






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






46. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






47. Costs of production that do not change with the number of units produced






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






49. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


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