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






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






3. Sequence of suppliers that contribute to the creation and delivery of a good or service






4. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.






5. Use of the internet for business transactions between organizations






6. Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling to achieve promotional objectives






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






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






9. Purchasing foreign goods and services






10. Specified deduction from a list price - including a trade-in or promotional allowance






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






12. Tax levied against imported goods






13. Way to evaluate each of an organization's SBUs - like a portfolio performance framework. The market share/ market growth matrix places SBU's in a 4 quadrant chart that plots market share against market growth potential and then places them in one of






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






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






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






17. Nonpersonal selling of a particular good or service






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






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






20. Planning that guides the implementation of activities specified in the strategic plan






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






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






23. Hiring workers to do jobs from their homes






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






25. Short for web log-- an online journal for an individual or organization






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






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






28. Single brand name that identifies several related products






29. Popular name for junk email






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






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






32. 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






33. Series of related products offered by one company






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






35. Division of the total market into smaller - relatively homogenous groups






36. 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






37. Physiological - safety - social/belongingness - esteem needs - self-actualization

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38. 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






39. 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






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






41. 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






42. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market






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






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






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






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






47. Trade restrictions that limit the number of units of certain goods that can enter a country for resale






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






49. Products that consumers purchase after comparing competing offerings






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