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. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






2. 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






3. Trendsetters who purchase new products before others in a group and then influence others in thier purchases






4. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.






5. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






6. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






7. Planned channel system designed to improve distribution and cost effectiveness by integrating various functions throughout the distribution chain






8. 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






9. 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






10. Process of coordinating the flow of information - goods - and services among members of the distribution channel






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

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






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






14. Marketing intermediaries that operate in the trade sector






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






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






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






18. Specified deduction from a list price - including a trade-in or promotional allowance






19. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






20. Products that consumers purchase after comparing competing offerings






21. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments






22. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment






23. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)






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






25. Series of different but related ads that use a single theme and appear in different media within a specified time period






26. Purchasing goods and services from suppliers worldwide






27. International trade accord that has helped reduce world tariffs






28. Interactive process that occurs in the marketplace among marketers of directly competitive products - marketers of products that can be substituted for one another - and marketers competing for the consumer's purchasing power






29. Movement of goods and services from producers to customers






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






31. 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






32. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.






33. Sales presentations made at prospective customer's' locations on a face-to- face basis






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






35. 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






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






37. Consumer reliance on previous experiences with a product to choose that product again






38. Distribution of a product through all available channels






39. Tax levied against imported goods






40. Short for web log-- an online journal for an individual or organization






41. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product






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






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






44. Process of reducing consumer demand for a good or service to a level that the firm can supply






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






46. Consumer refusal of alternatives and extensive search for desired merchandise






47. Form of exporting whereby goods and services are bartered rather than sold for cash






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






49. Component of the marketing environment consisting of the relationship between the marketer - society - and culture






50. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market