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. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






2. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






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






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






5. 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






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






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






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






9. Exchange value of a good or service






10. Marketing intermediaries that operate in the trade sector






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






12. Amount by which a retailer reduces the original selling price of a product






13. 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






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






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






16. 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


17. Percentage of visitors to a website who make a purchase






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






19. 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






20. Marketing information system component that links a decision marketer with relevant databases and analysis tools






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






22. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me






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






24. Process of collecting and using information for marketing decision making






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






26. 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






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






28. 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






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






30. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.






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






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






33. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders






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






35. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner






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






37. Process through which buyers make purchasing decisions






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






39. Estimate of a firm's revenue for a specified future period






40. Combination of physical chacterisitics and amenities that contribute to a store's image






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






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






43. Established price normally quoted to potential buyers






44. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior






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






46. Combination of transport modes such as rail and highway carriers (piggyback) - air and highway carriers (birdyback) - and water and air carriers (fishyback) to improve customer service and achieve cost advantages






47. Product destined for use by ultimate consumers






48. 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






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






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