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






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






3. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






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






5. The process by which people select - organize - and interpret information form the outside world






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






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






8. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






9. 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






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






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






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






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






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






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






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






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






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






19. Group of people within an organization who focus exclusively on the development of a new product






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






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






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






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






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






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






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






27. A homogeneous group of customers who will respond to a marketing mix in a similiar way






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






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






30. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






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






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






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






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






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






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






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






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






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






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






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






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






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






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






45. Brands that the manufacturer of the product owns






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






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






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






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






50. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri