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






2. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship






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






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






5. Technology that uses a tiny chip with identification information that can be read by a scanner using radio waves from a distance






6. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings






7. Previously published information






8. Placing a product at a certain point or location within a marketin the minds of prospective buyers






9. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale






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






11. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public






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






13. Coordination of all promotional activities to produce a unified - customer-focused promotional message






14. Process through which buyers make purchasing decisions






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






16. 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






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






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






19. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






20. 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






21. Want-satisfying power of a good or service






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






23. Distribution of a product through a single wholesaler or retailer in a specific geographic region






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






25. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer






26. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information






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






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






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






30. Added value that a respected - well-known brand name gives to a product in the marketplace






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






32. Pricing strategy involving the use of a high price relative to competitive offerings






33. Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling to achieve promotional objectives






34. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits






35. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings






36. International trade accord that has helped reduce world tariffs






37. Moving jobs to vendors in countries close to the businesses home country






38. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits






39. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them






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






41. Intangible products that firms buy to facilitate their production and operating processes






42. 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






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






44. 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

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45. Site designed to increase a firm's visibility - promote its offerings - and provide information to interested parties






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






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






48. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance






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






50. Selling directly to consumers over the internet