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. Number of alternatives that a consumer actually considers in making a purchase decision






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






3. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






4. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






5. 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






6. Exchange value of a good or service






7. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition






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






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






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






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






12. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit






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






14. Firm whose marketing specialists help advertisers plan and prepare advertisements






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






16. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






17. 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






18. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.






19. 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






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






21. Nonpersonal selling of a particular good or service






22. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship






23. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience






24. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities






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






26. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






27. Retailing practice of combining dissimilar product lines to boost sales volume






28. People who purchase new products almost as soon as the products reach the market






29. Promotional effort by the seller directed to members of the marketing channel rather than final users






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






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






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






33. Marketers' standards of conduct and moral values






34. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information






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






36. Process through which buyers make purchasing decisions






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






38. Placing a product at a certain point or location within a marketin the minds of prospective buyers






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






40. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results






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






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






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






44. Products that consumers purchase after comparing competing offerings






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






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






47. Purchasing foreign goods and services






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






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






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