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. What is left of disposable income after paying for necessities






2. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






3. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






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






5. A means of characterizing consumers based on the different family stages they pass through as they grow older






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






7. 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






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






9. An internal state that drives us to satisfy needs by activating goal-oriented behavior






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






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






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






13. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






14. Combining two or more submarkets into one larger target market as a basis for one strategy






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






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






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






18. 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






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






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






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






22. Goods that a business customer consumes in a relatively short time






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






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






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






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






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






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






29. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






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






31. Number of babies born per 1000 people fluctuated greatly in last 65 years






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






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






34. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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






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






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






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






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






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






41. A fairly homogeneous group of customers to whom a company wishes to appeal






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






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






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






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






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






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






48. When each family unit produces everything it consumes






49. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






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