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. When each family unit produces everything it consumes






2. 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






3. An organizational unit that focuses on some product markets and is treated as a separate profit center






4. A homogeneous group of customers who will respond to a marketing mix in a similiar way






5. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






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






7. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






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






9. Income that is adjusted to take out the effects of inflation on purchasing power






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






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






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






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






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






15. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






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






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






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






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






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






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






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






23. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






24. An agreement between two brands to work together in marketing new or existing products






25. 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






26. The division of a market according to benefits that consumers want from the product






27. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






28. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






29. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






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






33. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






34. 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






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






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






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






38. The process by which organization adjust their offering in an attempt to match demand






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






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






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






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






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






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






45. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






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






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






48. 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






49. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






50. The value that customers give up - or exchange - to obtain a desired product