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






2. Established price normally quoted to potential buyers






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






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






5. Retailing practice of combining dissimilar product lines to boost sales volume






6. 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






7. Hiring workers to do jobs from their homes






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






9. Purchasing foreign goods and services






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






11. Movement of goods and services from producers to customers






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






13. 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)






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






15. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources






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






17. Dominant and controlling member of a marketing channel






18. Estimate of a firm's revenue for a specified future period






19. 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






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






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






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






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. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products






25. Site whose main purpose is to increase purchases by visitors






26. Features that a consumer considers in chosing among alternatives






27. Interactive process that occurs in the marketplace among marketers of directly competitive products - marketers of products that can be substituted for one another - and marketers competing for the consumer's purchasing power






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






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






30. Single brand name that identifies several related products






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






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






33. 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






34. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing






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






36. Sample that involves personal judgement somehwere in the selection process






37. 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






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






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






40. 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






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






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






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






44. Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the internetand virtual reality kiosks






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






46. Distribution of a product through all available channels






47. 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


48. Combination of transport modes such as rail and highway carriers (piggyback) - air and highway carriers (birdyback) - and water and air carriers (fishyback) to improve customer service and achieve cost advantages






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






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