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






2. 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






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






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






5. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






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






7. 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






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






9. 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






10. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






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






12. 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






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






14. Expensive goods that an organization uses in its daily operations that last for a long time






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






16. The seller fine tunes the marketing effort with info from a detailed customer database






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






18. Pricing a new product low for a limited period of time to lower the risk for a customer






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






20. 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






21. Income that is adjusted to take out the effects of inflation on purchasing power






22. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






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






24. A manager who is responsible for developing and implementing the marketing plan for a single brand






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






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






27. 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






28. People over 65






29. A firm's total product offering designed to satisfy a single need or desire of target customers






30. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






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






32. Communicating with large numbers of customers at the same time






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






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






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






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






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






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






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






40. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






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






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






43. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






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






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






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






47. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






48. People born between 1946 and 1964






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






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