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






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






3. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






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






5. A firm's total product offering designed to satisfy a single need or desire of target customers






6. The last consumers to adopt the innovation






7. 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






8. People over 65






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






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






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






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






13. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






14. The process by which the use of a product spreads throughout the population






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






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






17. A new product that does not reach expectations for success - failing to reach sales objectives set






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






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






20. Segmenting the market and picking one of the homogeneous segments as the firms target market






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






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






23. The pricing strategy of setting prices below cost to attract customers into a store






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






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






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






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






28. The division of a market according to benefits that consumers want from the product






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






30. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






31. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






32. 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






33. 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






34. An organizational unit that focuses on some product markets and is treated as a separate profit center






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






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






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






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






39. 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






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






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






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






43. 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






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






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






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






47. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






48. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






50. The value of a brand to an organization