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






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






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






4. Consumer awareness and identification of a brand






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






6. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me






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






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






9. 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






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






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






12. Physiological - safety - social/belongingness - esteem needs - self-actualization

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13. Participants in an organizational buying action A






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






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






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






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






18. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






19. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






20. Purchasing goods and services from suppliers worldwide






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






22. Products bought by ultimate consumers for personal use






23. 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






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






25. Values - beliefs - preferences - and tastes handed down from one generation to the next






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






27. 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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28. Inner state that directs a person toward the goal of satisfying a need






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






30. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






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






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






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






34. 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






35. Marketers' standards of conduct and moral values






36. Marketing intermediaries that operate in the trade sector






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






38. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights






39. Percentage of people presented with a banner ad who click on it






40. 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






41. 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






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






43. Component of the marketing environment consisting of the relationship between the marketer - society - and culture






44. International trade accord that has helped reduce world tariffs






45. Sample that involves personal judgement somehwere in the selection process






46. Products that consumers purchase after comparing competing offerings






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






48. 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






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






50. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers