Test your basic knowledge |

CLEP Marketing

Subjects : clep, 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. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again






2. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






3. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources






4. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats






5. Consumer awareness and identification of a brand






6. Relationship in which an organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity






7. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products






8. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders






9. People who purchase new products almost as soon as the products reach the market






10. Planning that guides the implementation of activities specified in the strategic plan






11. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)






12. Values - beliefs - preferences - and tastes handed down from one generation to the next






13. Tangible products that customers can see - hear - smell - taste - or touch






14. Division of an overall market into homogenous groups based on thier location






15. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.






16. Price of one nation's currency in terms of another country's currency






17. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






18. Purchasing foreign goods and services






19. Group of retail stores planned - coordinated - and marketed as a unit






20. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products






21. State laws requiring sellers to maintain minimum prices for comparable merchandise






22. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






23. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






24. Process of collecting information about the external environment to identify and interpret potential trends






25. Traditional prices that customers expect to pay for certain goods and services






26. Marketing domestically produced goods and services in foreign countries






27. Offering two or more complementary products and selling them for a single price






28. Activity in which 2 or more parties give something of value to each other to satisy perceived needs






29. Product destined for use by ultimate consumers






30. Tax levied against imported goods






31. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






32. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition






33. Firm whose marketing specialists help advertisers plan and prepare advertisements






34. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






35. Sample that involves personal judgement somehwere in the selection process






36. Process by which new goods or services are accepted in the marketplace






37. Number of alternatives that a consumer actually considers in making a purchase decision






38. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment






39. Process of collecting and using information for marketing decision making






40. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit






41. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs






42. Combination of transport modes such as rail and highway carriers (piggyback) - air and highway carriers (birdyback) - and water and air carriers (fishyback) to improve customer service and achieve cost advantages






43. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






44. Messages that deal with buyer-seller relationships






45. Dominant and controlling member of a marketing channel






46. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers






47. Comprehensive term that describes wholesalers as well as agents and brokers






48. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience






49. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






50. Measure of responsiveness of purchasers and suppliers to a change in price