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






2. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






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






4. 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






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






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






7. 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






8. 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






9. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers






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






11. 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






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






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






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






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






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






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






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






19. Series of different but related ads that use a single theme and appear in different media within a specified time period






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






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






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






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






25. 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






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






27. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same






28. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.






29. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's






30. Hiring workers to do jobs from their homes






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






32. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






33. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort






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






35. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line






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






37. 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






38. Company website that sells products to customers






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






40. Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler






41. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products






42. Nonpersonal stimulation of demand for a good - service - place - idea - person - or organization by unpaid placement of significant news regarding the product in a print or broadcast medium






43. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities






44. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective






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






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






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






48. Popular name for junk email






49. Coordination of all promotional activities to produce a unified - customer-focused promotional message






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