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. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






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






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






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






5. 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






6. 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






7. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






8. Offering two or more complementary products and selling them for a single price






9. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






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






11. Selling directly to consumers over the internet






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






13. 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






14. Consumer awareness and identification of a brand






15. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






17. Brand for which the owner claims exclusive legal protection






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






19. 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






20. Distribution of a product through all available channels






21. 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






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






23. Promotional effort by the seller directed to members of the marketing channel rather than final users






24. Previously published information






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






26. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information






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






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






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






30. 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






31. Grid that organizes numerical information in a standardized - easily understood format






32. 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






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






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






35. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy






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






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






38. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






39. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






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






41. 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






42. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives






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






44. Purchasing foreign goods and services






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






46. Hiring workers to do jobs from their homes






47. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight






48. 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






49. 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






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