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






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






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






4. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group






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






6. 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






7. A pricing strategy that considers the lifetime cost of using the product






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






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






10. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






11. A product people often buy on the spur of the moment






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






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






14. The relative importance of perceived consequences of the purchase to a consumer






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






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






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






18. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






19. Number of babies born per 1000 people fluctuated greatly in last 65 years






20. A survey of customers regarding the types and quantities of products they intend to buy during a specific period






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






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






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






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






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






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






27. 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






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






29. 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






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






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






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






33. 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






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






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






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






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






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






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






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






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






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






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






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






45. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






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






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






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






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






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