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






2. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business






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






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






5. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






7. Series of related products offered by one company






8. Dominant and controlling member of a marketing channel






9. Movement of high-wage jobs from one country to lower-cost overseas locations






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






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






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






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






14. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways






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






16. Process through which buyers make purchasing decisions






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






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






19. 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






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






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






22. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing






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






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






25. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)






26. 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






27. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's






28. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights






29. Marketing intermediaries that operate in the trade sector






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






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






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






33. Products that consumers purchase after comparing competing offerings






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






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






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






37. 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






38. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






39. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness






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






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






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






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






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






45. Marketing of sporting - cultural - and charitable activities to selected target markets






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






47. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






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






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






50. Process by which new goods or services are accepted in the marketplace