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. Segmenting a business-to-business market based on how industrial purchasers will use the product






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






3. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase






4. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






5. Nonpersonal selling of a particular good or service






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






7. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






8. Products characterized by plain labels - no advertising - and the absence of brand names






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






10. Single brand name that identifies several related products






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






12. Consumer awareness and identification of a brand






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






14. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort






15. Product destined for use by ultimate consumers






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






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






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






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






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






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






22. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






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






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






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






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






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






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






29. Marketing intermediaries that operate in the trade sector






30. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers






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






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






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






34. Tax levied against imported goods






35. Sales presentations made at prospective customer's' locations on a face-to- face basis






36. Nonpersonal stimulation of demand for a good - service - place - idea - person - or organization by unpaid placement of significant news regarding the product in a print or broadcast medium






37. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






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






39. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments






40. 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






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






42. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products






43. Price of one nation's currency in terms of another country's currency






44. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together






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






46. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective






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






48. 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






49. Exchange value of a good or service






50. 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