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. International trade accord that has helped reduce world tariffs






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






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






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






5. Features that a consumer considers in chosing among alternatives






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






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






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






9. State laws requiring sellers to maintain minimum prices for comparable merchandise






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






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






12. Series of related products offered by one company






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






14. Retailing practice of combining dissimilar product lines to boost sales volume






15. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.






16. Progression of a product through introduction - growth - maturity - and decline stages






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






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






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






20. 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






21. Inner state that directs a person toward the goal of satisfying a need






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






23. 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






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






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






26. Price of one nation's currency in terms of another country's currency






27. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers






28. 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






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






30. Tax levied against imported goods






31. Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler






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






33. Movement of goods and services from producers to customers






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






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






36. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace






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






38. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line






39. 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






40. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






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






42. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






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






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






45. Brand name owned by a manufacturer or other producer

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


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






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






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






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






50. Marketing intermediaries that operate in the trade sector