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






2. Marketing domestically produced goods and services in foreign countries






3. Products bought by ultimate consumers for personal use






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






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






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






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






8. Previously published information






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






10. Sample that gives every member of the population a chance of being selected






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






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






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






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






15. Traditional prices that customers expect to pay for certain goods and services






16. Form of exporting whereby goods and services are bartered rather than sold for cash






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






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






19. Company website that sells products to customers






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






21. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them






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






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






24. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats






25. Process of reducing consumer demand for a good or service to a level that the firm can supply






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






27. 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






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






29. 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






30. Segmenting a business-to-business market based on how industrial purchasers will use the product






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






32. Combination of transport modes such as rail and highway carriers (piggyback) - air and highway carriers (birdyback) - and water and air carriers (fishyback) to improve customer service and achieve cost advantages






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






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






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






36. Purchasing goods and services from suppliers worldwide






37. Activities involved in selling merchandise to ultimate consumers






38. Agreement that grants foreign marketers the right to distribute a firm's merchandise or to use its trademark - patent - or process in a specified geographic area






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






40. 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






41. Affiliation of 2 or more companies that help each other achieve common goals






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






43. 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






44. Pricing strategy involving the use of a high price relative to competitive offerings






45. Popular name for junk email






46. Marketing of sporting - cultural - and charitable activities to selected target markets






47. Product destined for use by ultimate consumers






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






49. 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






50. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale