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






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






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






4. 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






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






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






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






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 method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






10. Pricing products with a focus on a target level of profit growth or a desired net profit margin






11. People born between 1946 and 1964






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






13. Moral standards that guide marketing decisions and actions






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






15. A modification of an existing product that sets one brand apart from its competitors






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






17. Costs involved in moving from one brand to another






18. A pricing tactic in which the seller absorbs the total cost of transportation






19. Brands that are owned and sold by a specific - retailer or distributor






20. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






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






22. A means of measuring a website's success by tracking customers' movement around the company website






23. Discounts based only on the quantity purchased in individual orders






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






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






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






27. A means of characterizing consumers based on the different family stages they pass through as they grow older






28. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






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






30. An internal state that drives us to satisfy needs by activating goal-oriented behavior






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






32. Brands that the manufacturer of the product owns






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






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






35. Those who adopt an innovation early in the diffusion process but later than the innovators






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






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






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






39. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






40. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






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






42. A marketing mix is tailored to fit some specific target customers






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






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






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






46. The process of eliminating interaction between customers and service providers






47. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






48. 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






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






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