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. Participants in an organizational buying action A






2. 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






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






4. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






5. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






6. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






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






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






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






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






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






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






13. 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






14. Want-satisfying power of a good or service






15. 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.






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






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






18. Consumer awareness and identification of a brand






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






20. Purchasing foreign goods and services






21. Number of alternatives that a consumer actually considers in making a purchase decision






22. Brand for which the owner claims exclusive legal protection






23. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers






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






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






26. Product destined for use by ultimate consumers






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






28. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






29. Purchasing goods and services from suppliers worldwide






30. 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






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






32. Component of the marketing environment consisting of the relationship between the marketer - society - and culture






33. 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






34. Products bought by ultimate consumers for personal use






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






36. Distribution of a product through all available channels






37. Added value that a respected - well-known brand name gives to a product in the marketplace






38. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






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






40. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






41. 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






42. Features that a consumer considers in chosing among alternatives






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






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






45. Division of a population into homogenous groups based on thier relationships to the product






46. 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






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






48. Selling directly to consumers over the internet






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






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