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. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.






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






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






4. Division of an overall market into homogenous groups based on thier location






5. 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






6. 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






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






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






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






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






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






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






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






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






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






16. 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

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






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






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






20. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers






21. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices






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






23. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers






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






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






26. Technology that uses a tiny chip with identification information that can be read by a scanner using radio waves from a distance






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






28. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)






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






30. Products characterized by plain labels - no advertising - and the absence of brand names






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






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






33. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






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






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






36. Promotional effort by the seller directed to members of the marketing channel rather than final users






37. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility






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






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






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






42. 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






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






44. Firm's communications and relationships with its various publics






45. Participants in an organizational buying action A






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






47. Marketing intermediaries that operate in the trade sector






48. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale

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






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