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 collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas






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






3. People over 65






4. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






5. 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






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






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






8. A strategy where prices are set significantly higher than competing brands






9. Costs of production that do not change with the number of units produced






10. 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






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






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






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






14. A pricing strategy that considers the lifetime cost of using the product






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






16. The physical good or the delivered service that supplies the desired benefit






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






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






19. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






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






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






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






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






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






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






26. The values - beliefs - customs - and tastes that a group of people value






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






28. The practice of linking products to a particular social cause on an ongoing or short-term basis






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






30. Discounts based on the total quantity bought within a specified time period






31. The value of a brand to an organization






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






33. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






34. Products we purchase when we're in dire need






35. People born between 1946 and 1964






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






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






38. A pricing tactic of charging reduced prices for larger quantities of product






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






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






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






42. 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






43. 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






44. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






46. What is left of disposable income after paying for necessities






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






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






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






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