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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. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives






2. 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






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






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






5. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior






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






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






8. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)






9. Products bought by ultimate consumers for personal use






10. 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






11. Popular name for junk email






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






13. Company website that sells products to customers






14. Selling by phone - mail - and electronic commerce






15. Messages that deal with buyer-seller relationships






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






17. Product destined for use by ultimate consumers






18. Movement of high-wage jobs from one country to lower-cost overseas locations






19. 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






20. Use of the internet for business transactions between organizations






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






22. Distribution of a product through a single wholesaler or retailer in a specific geographic region






23. Marketing domestically produced goods and services in foreign countries






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






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






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






27. Sequence of suppliers that contribute to the creation and delivery of a good or service






28. Computer-to-computer exchanges of invoices - orders - and other business documents






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






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






31. Process of collecting and using information for marketing decision making






32. 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






33. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






34. Want-satisfying power of a good or service






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






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






37. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






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






39. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business






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






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






42. 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.






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






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






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






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






47. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market






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






49. Single brand name that identifies several related products






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







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