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. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results






2. 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






3. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.






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






5. Company website that sells products to customers






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






7. 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






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






9. Tangible products that customers can see - hear - smell - taste - or touch






10. 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






11. 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)






12. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






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






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






15. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






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






17. Purchasing goods and services from suppliers worldwide






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






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






20. Cooperative agreement in which two businesses jointly market each other's product






21. Computer-to-computer exchanges of invoices - orders - and other business documents






22. Dominant and controlling member of a marketing channel






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






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






25. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






26. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






27. 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






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






29. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight






30. Identification and marketing of a social issue - cause - or idea to selected target markets






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






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






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






34. Consumer awareness and identification of a brand






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






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






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






38. 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






39. Pricing strategy involving the use of a high price relative to competitive offerings






40. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






41. Tax levied against imported goods






42. Sales presentations made at prospective customer's' locations on a face-to- face basis






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






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






45. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer






46. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market






47. 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






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






49. 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






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