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






2. The practice of setting a limited number of different specific prices - called price points - for items in a product line






3. The last consumers to adopt the innovation






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






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






6. Aim at one or more homogeneous segments and try to develop different marketing mix for each






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






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






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






10. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






11. A new product that copies with slight modification the design of an original product






12. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






13. Relevant to including a customer type in a product market






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






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






16. 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






17. 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






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






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






21. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






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






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






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






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






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






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






28. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






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






30. 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






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






32. The process by which organization adjust their offering in an attempt to match demand






33. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






35. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






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






38. 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






39. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






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






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






42. The loss of sales of an existing product when a new item in a product line or product family is introduced






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






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






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






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






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






48. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






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






50. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information