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






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






3. Series of related products offered by one company






4. Process of collecting information about the external environment to identify and interpret potential trends






5. Selling directly to consumers over the internet






6. Activities involved in selling merchandise to ultimate consumers






7. Marketing intermediaries that operate in the trade sector






8. Marketing domestically produced goods and services in foreign countries






9. Want-satisfying power of a good or service






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






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






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






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






14. Process by which new goods or services are accepted in the marketplace






15. Single brand name that identifies several related products






16. Messages that deal with buyer-seller relationships






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






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






19. Process through which buyers make purchasing decisions






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






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






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






23. Coordination of all promotional activities to produce a unified - customer-focused promotional message






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






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






26. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales






27. Specified deduction from a list price - including a trade-in or promotional allowance






28. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






29. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






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






31. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






32. Participants in an organizational buying action A






33. Percentage of visitors to a website who make a purchase






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






35. Loss of sales of an existing product due to competition from a new product in the same line






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






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






38. Intangible products that firms buy to facilitate their production and operating processes






39. 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






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






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






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

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






44. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product






45. Form of exporting whereby goods and services are bartered rather than sold for cash






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






47. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale

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48. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






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






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