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. Tax levied against imported goods






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






3. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again






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






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






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






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






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






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






10. 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






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






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






13. 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






14. Model developed by strategy expert Michael Porter that identifies 5 competitive forces that influence planning strategies; 1. the threat of new entrants 2. the bargaining power of buyers 3. the bargaining power of suppliers 4. the threat of substitut

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15. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources






16. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market






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






18. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves






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






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






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






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






23. Selling by phone - mail - and electronic commerce






24. Distribution of a product through all available channels






25. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products






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






27. Product destined for use by ultimate consumers






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






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






30. Consumer refusal of alternatives and extensive search for desired merchandise






31. 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






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






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






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






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






36. Accord removing trade barriers between Canada - Mexico - and the US






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






38. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings






39. 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






40. Trade restrictions that limit the number of units of certain goods that can enter a country for resale






41. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






42. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer






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






44. Moving jobs to vendors in countries close to the businesses home country






45. 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






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






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






48. 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






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






50. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer