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






2. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






3. People over 65






4. The last consumers to adopt the innovation






5. A strategy of frequently using sale prices to increase sales volume






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






7. A new product sold with the same brand name as a strong existing brand






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






9. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






10. 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






11. Sales forecasting based on the intuition of one or more executives






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






13. A product that consumers perceive to be new and different form existing products






14. E-commerce that allows shoppers to purchase products through online bidding






15. 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






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






17. 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






18. A social process that directs an economy






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






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






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






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






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






24. Pricing that is intended to maximize customer satisfaction and retention






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






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






27. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






28. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






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






30. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






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






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






33. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






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






35. 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






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






37. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






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






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






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






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






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






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






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






45. Products created when firms transform raw materials from their original state






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






47. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






48. Brands that the manufacturer of the product owns






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






50. Moral standards that guide marketing decisions and actions