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






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






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






5. People over 65






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






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






8. Costs involved in using a product






9. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






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






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






12. 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






13. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






14. All the benefits the product will provide for consumers or business customers






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






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






17. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






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






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






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






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






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






23. Charging a very high - premium price for a new product






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






25. The first segment (2.5%) of a population to adopt a new product






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






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






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






29. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






30. 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






31. The set of alternative brands the consumer is considering for the decision process






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






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






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






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






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






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






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






39. The difference between the cost of the product and the selling price of the product






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






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






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






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






44. 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






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






46. 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






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






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






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






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