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 method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






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






3. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue






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






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






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






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






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






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






10. Products that consumers purchase to signal membership in a desirable social class






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






12. Selling two or more goods or services as a single package for one price






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






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






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






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






17. A totally new product that creates major changes in the way we live






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






20. 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






21. A modification of an existing product that sets one brand apart from its competitors






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






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






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






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






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






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






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






29. Moral standards that guide marketing decisions and actions






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






31. What is left after taxes






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






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






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






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






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






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






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






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






40. 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






41. A price-setting method based on estimated of demand at different prices






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






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






44. 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






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






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






47. The value of a brand to an organization






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






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






50. People over 65