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. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives






2. 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






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






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






5. Way to evaluate each of an organization's SBUs - like a portfolio performance framework. The market share/ market growth matrix places SBU's in a 4 quadrant chart that plots market share against market growth potential and then places them in one of






6. 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






7. Agreement that grants foreign marketers the right to distribute a firm's merchandise or to use its trademark - patent - or process in a specified geographic area






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






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






10. Pricing strategy involving the use of a high price relative to competitive offerings






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






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






13. 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






14. 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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15. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers






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






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






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






19. 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






20. 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






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






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






23. Process of coordinating the flow of information - goods - and services among members of the distribution channel






24. Selling by phone - mail - and electronic commerce






25. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands






26. Marketers' standards of conduct and moral values






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






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






29. Movement of goods and services from producers to customers






30. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy






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






32. Division of the total market into smaller - relatively homogenous groups






33. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.






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






35. Consumer awareness and identification of a brand






36. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






37. Site whose main purpose is to increase purchases by visitors






38. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth






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






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






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






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






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






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






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






47. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders






48. 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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49. Marketing intermediaries that operate in the trade sector






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