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. Products that exhibit consistently high velocity sales in the consumer marketplace






2. People whose children are grown and who are now able to spend their money in other ways






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






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






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






6. Costs involved in using a product






7. To try to increase the size of their target markets by combining two or more segments






8. A relatively permanent change in behavior caused by acquired information or experience






9. A product that consumers perceive to be new and different form existing products






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






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






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






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






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






15. The strategy of selling products at unreasonably low prices to drive competitors out of business






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






17. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention






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






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






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






21. Costs of production that do not change with the number of units produced






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






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






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






25. People born between 1946 and 1964






26. Refers to the generation born immediately following the baby boom - from 1965-1977






27. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






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. Pricing intended to establish a desired image or positioning to prospective customers






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






31. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






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






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






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






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






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






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






39. 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






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






41. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






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






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






44. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






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






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






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






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






49. The last consumers to adopt the innovation






50. Tohose whose adoption to a new product signals a general acceptance of the innovation