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






2. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






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






4. What is left after taxes






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






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






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






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






9. Products that exhibit consistently high velocity sales in the consumer marketplace






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






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






12. The marketing mix is distinct from and better than what is available from a competitor






13. People born between 1946 and 1964






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






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






16. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






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






18. 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






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






20. The dimensions that consumers use to compare completing product alternatives






21. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






22. The psychological characteristics that consistently influence the way a person responds to situations in the environment






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






24. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






25. The process by which people select - organize - and interpret information form the outside world






26. The value of something that is given up to obtain something else






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






28. People over 65






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






30. The value of a brand to an organization






31. The last consumers to adopt the innovation






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






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






34. Pricing products with a focus on a target level of profit growth or a desired net profit margin






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






36. The price the end customer is expected to pay as determined by the manufacturer






37. 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






38. 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






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






40. 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






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






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






43. 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






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






45. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






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






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






48. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes






49. The collaboration of two or more firms in setting prices - usually to keep prices high






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