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






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






3. Pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices






4. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings






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






6. Marketing domestically produced goods and services in foreign countries






7. Amount by which a retailer reduces the original selling price of a product






8. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






9. 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






10. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






11. Brand name owned by a manufacturer or other producer

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12. 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






13. 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






14. Measure of responsiveness of purchasers and suppliers to a change in price






15. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






16. Information collected specifically for the investigation at hand






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






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






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






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






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






22. Product destined for use by ultimate consumers






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






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






25. 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






26. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves






27. 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






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






29. 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






30. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






31. Dominant and controlling member of a marketing channel






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






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






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






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






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






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






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






39. 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






40. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel

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41. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness






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






43. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights






44. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise






45. Agent wholesaling intermediary that does not take title to or possesion of goods in the course of its primary function - which is to bring together buyers and sellers






46. 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






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






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






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






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