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






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






3. Pricing products to maximize sales or to attain a desired level of sales or market share






4. The regret or remorse buyers may feel after making a purchase






5. 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






6. A pricing tactic in which the seller absorbs the total cost of transportation






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






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






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






10. 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






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






12. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






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






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






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






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






19. A brand that a group of individual products or individual brands share






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






21. 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






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






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






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






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






26. To try to find similar patterns within sets of data






27. 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






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






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






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






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






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






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






34. Pricing that is intended to have an effect on the marketing efforts of the competition






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






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






37. The value of a brand to an organization






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






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






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






41. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






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






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






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






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






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






47. Relevant to including a customer type in a product market






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






49. A new product that does not reach expectations for success - failing to reach sales objectives set






50. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues







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