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






2. Activities involved in selling merchandise to ultimate consumers






3. Want-satisfying power of a good or service






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






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






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






7. 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






8. 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






9. Tax levied against imported goods






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






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






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






13. Division of an overall market into homogenous groups based on thier location






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






15. Process through which buyers make purchasing decisions






16. Identification and marketing of a social issue - cause - or idea to selected target markets






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






18. Progression of a product through introduction - growth - maturity - and decline stages






19. Movement of goods and services from producers to customers






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






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






22. Series of related products offered by one company






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

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24. Distribution of a product through a limited number of channels






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






26. Percentage of people presented with a banner ad who click on it






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






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






29. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions






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






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






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






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






34. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






35. 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






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






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






38. Single brand name that identifies several related products






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

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






41. 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






42. 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






43. Marketing domestically produced goods and services in foreign countries






44. Using outside vendors to provide goods and services formerly produced in-house






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






46. 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






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






48. Use of the internet for business transactions between organizations






49. 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.






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