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






2. 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






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






4. Process by which new goods or services are accepted in the marketplace






5. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs






6. Products that consumers purchase after comparing competing offerings






7. 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






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






9. Participants in an organizational buying action A






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






11. Features that a consumer considers in chosing among alternatives






12. Amount that a retailer adds to the cost of a product to determine its selling price






13. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






14. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale






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






16. Firm's communications and relationships with its various publics






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






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






19. Dominant and controlling member of a marketing channel






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






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






22. Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost






23. Percentage of visitors to a website who make a purchase






24. Simultaneous personal interview of a small group of individuals - which relies on group discussion about a certain topic






25. Using outside vendors to provide goods and services formerly produced in-house






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






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






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






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






30. 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)






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






32. Products bought by ultimate consumers for personal use






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






34. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together






35. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






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






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






38. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)






39. Progression of a product through introduction - growth - maturity - and decline stages






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






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






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






44. 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






45. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience






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






47. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment






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






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






50. 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