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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. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives






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






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






4. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.






5. 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






6. Exchange value of a good or service






7. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer






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






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






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






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






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






13. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales






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






15. Company wide consumer orientation with the objective of achieving long-run success--all facets from top to bottom of the organization contribute to satisfying customer needs and wants






16. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






17. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel

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18. Dominant and controlling member of a marketing channel






19. Site whose main purpose is to increase purchases by visitors






20. 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)






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






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






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






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






25. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.






26. 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






27. 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






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






29. Strategy of attaching a popular brand name to a new product in an unrelated product category






30. Activities involved in selling merchandise to ultimate consumers






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






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






33. Hiring workers to do jobs from their homes






34. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs






35. Selling by phone - mail - and electronic commerce






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






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






38. International trade accord that has helped reduce world tariffs






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






40. Bundle of physical - service - and symbolic attributes designed to satisfy a customer's wants and needs






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






42. Sequence of suppliers that contribute to the creation and delivery of a good or service






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






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






45. Pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices






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






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






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






49. Marketers' standards of conduct and moral values






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







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