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. 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


2. Percentage of people presented with a banner ad who click on it






3. 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






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






5. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






6. Offering within a product line such as a specific size of liquid detergent






7. 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)






8. Using outside vendors to provide goods and services formerly produced in-house






9. Loss of sales of an existing product due to competition from a new product in the same line






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






11. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers






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






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






14. Trendsetters who purchase new products before others in a group and then influence others in thier purchases






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






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






17. Offering two or more complementary products and selling them for a single price






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






19. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






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






21. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands






22. Series of related products offered by one company






23. 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






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






25. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






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






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






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






29. Measure of responsiveness of purchasers and suppliers to a change in price






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






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






32. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






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






34. Company website that sells products to customers






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






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






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






38. Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost






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






40. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience






41. Products bought by ultimate consumers for personal use






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






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






44. Process of reducing consumer demand for a good or service to a level that the firm can supply






45. Affiliation of 2 or more companies that help each other achieve common goals






46. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






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






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






49. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth






50. Imbalance between a consumer's actual and desired states