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. Added value that a respected - well-known brand name gives to a product in the marketplace






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






3. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale






4. Features that a consumer considers in chosing among alternatives






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






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






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






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






9. 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






10. Simultaneous personal interview of a small group of individuals - which relies on group discussion about a certain topic






11. Short for web log-- an online journal for an individual or organization






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






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






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






15. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs






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






17. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






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






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






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






21. Company website that sells products to customers






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






23. Purchasing goods and services from suppliers worldwide






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






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






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






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






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






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






30. Grid that organizes numerical information in a standardized - easily understood format






31. Process of collecting and using information for marketing decision making






32. Tangible products that customers can see - hear - smell - taste - or touch






33. 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






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






35. Person's multifaceted picture of himself or herself






36. 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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


37. 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






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






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






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






41. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs






42. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept






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






44. 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






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






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






47. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders






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






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






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