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






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






3. Firm's communications and relationships with its various publics






4. Sample that gives every member of the population a chance of being selected






5. 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






6. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions






7. Division of a population into homogenous groups based on thier relationships to the product






8. Distribution of a product through a limited number of channels






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






10. Trade restrictions that limit the number of units of certain goods that can enter a country for resale






11. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs






12. Nonpersonal stimulation of demand for a good - service - place - idea - person - or organization by unpaid placement of significant news regarding the product in a print or broadcast medium






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






14. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






15. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale

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16. Want-satisfying power of a good or service






17. Brand name owned by a manufacturer or other producer

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18. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility






19. Tax levied against imported goods






20. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action






21. Amount that a retailer adds to the cost of a product to determine its selling price






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






23. Inner state that directs a person toward the goal of satisfying a need






24. Cooperative agreement in which two businesses jointly market each other's product






25. Company website that sells products to customers






26. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities






27. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






28. Movement of high-wage jobs from one country to lower-cost overseas locations






29. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace






30. Segmenting a business-to-business market based on how industrial purchasers will use the product






31. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale






32. Agreement that grants foreign marketers the right to distribute a firm's merchandise or to use its trademark - patent - or process in a specified geographic area






33. Products bought by ultimate consumers for personal use






34. Observational research method developed by social anthropologists in which customers are observed in thier natural setting and thier behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography o






35. Marketing intermediaries that operate in the trade sector






36. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market






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






38. Intangible tasks that satisfy the needs of consumer and business users






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






40. Imbalance between a consumer's actual and desired states






41. Accord removing trade barriers between Canada - Mexico - and the US






42. Loss of sales of an existing product due to competition from a new product in the same line






43. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results






44. Dominant and controlling member of a marketing channel






45. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause






46. Division of the total market into smaller - relatively homogenous groups






47. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers






48. Affiliation of 2 or more companies that help each other achieve common goals






49. Previously published information






50. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept