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






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






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






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






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






6. 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






7. 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






8. Division of a population into homogenous groups based on thier relationships to the product






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






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






11. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






12. Established price normally quoted to potential buyers






13. Use of the internet for business transactions between organizations






14. Combination of physical chacterisitics and amenities that contribute to a store's image






15. 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






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






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






18. Production - promotion - and reclamation of environmentally sensitive products






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






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






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






22. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives






23. 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






24. Sales presentations made at prospective customer's' locations on a face-to- face basis






25. Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services






26. 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






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






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






29. Comprehensive term that describes wholesalers as well as agents and brokers






30. Previously published information






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






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






34. Purchasing foreign goods and services






35. State laws requiring sellers to maintain minimum prices for comparable merchandise






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






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






38. Participants in an organizational buying action A






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






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






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






42. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment






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






44. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






45. Series of different but related ads that use a single theme and appear in different media within a specified time period






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






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






48. 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






49. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






50. 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)