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






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






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






4. 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)






5. Purchasing foreign goods and services






6. Planned channel system designed to improve distribution and cost effectiveness by integrating various functions throughout the distribution chain






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






8. 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






9. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product






10. 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






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






12. Inner state that directs a person toward the goal of satisfying a need






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






14. Exchange value of a good or service






15. 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






16. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions






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






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






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






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






21. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






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






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






24. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






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






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






27. 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






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






29. Selling by phone - mail - and electronic commerce






30. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments






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






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






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






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






35. Marketing domestically produced goods and services in foreign countries






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






37. Moving jobs to vendors in countries close to the businesses home country






38. Application to marketing of knowledge based on discoveries in science - inventions - and innovations






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






40. 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






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






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






43. 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






44. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






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






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






47. Detailed description of the resources and actions needed to achieve stated marketing objectives






48. 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






49. Consumer awareness and identification of a brand






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