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






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






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






4. Promotional effort by the seller directed to members of the marketing channel rather than final users






5. Features that a consumer considers in chosing among alternatives






6. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market






7. Way to evaluate each of an organization's SBUs - like a portfolio performance framework. The market share/ market growth matrix places SBU's in a 4 quadrant chart that plots market share against market growth potential and then places them in one of






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






9. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer






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






11. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective






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






13. Marketing domestically produced goods and services in foreign countries






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






15. Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services






16. International trade accord that has helped reduce world tariffs






17. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)






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






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






20. Purchasing foreign goods and services






21. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort






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






23. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives






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






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






26. Process through which buyers make purchasing decisions






27. Company website that sells products to customers






28. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






29. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase






30. Series of related products offered by one company






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






32. Products characterized by plain labels - no advertising - and the absence of brand names






33. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise






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






35. 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






36. Movement of goods and services from producers to customers






37. Tax levied against imported goods






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






39. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






40. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy






41. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices






42. 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






43. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






44. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers






45. Physiological - safety - social/belongingness - esteem needs - self-actualization

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






47. Model developed by strategy expert Michael Porter that identifies 5 competitive forces that influence planning strategies; 1. the threat of new entrants 2. the bargaining power of buyers 3. the bargaining power of suppliers 4. the threat of substitut

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






49. Process of selecting survey respondents or research participants






50. Consumer awareness and identification of a brand