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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. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior






2. Purchasing foreign goods and services






3. Marketing of sporting - cultural - and charitable activities to selected target markets






4. Sequence of suppliers that contribute to the creation and delivery of a good or service






5. Products bought by ultimate consumers for personal use






6. Features that a consumer considers in chosing among alternatives






7. Distribution of a product through all available channels






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






9. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's






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






11. Intangible tasks that satisfy the needs of consumer and business users






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






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






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






15. Process of selecting survey respondents or research participants






16. Technology that uses a tiny chip with identification information that can be read by a scanner using radio waves from a distance






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






18. Agent wholesaling intermediary that does not take title to or possesion of goods in the course of its primary function - which is to bring together buyers and sellers






19. 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






20. 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






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






22. 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






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






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






25. Selling directly to consumers over the internet






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






27. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner






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






29. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






30. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.






31. State laws requiring sellers to maintain minimum prices for comparable merchandise






32. 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






33. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.






34. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways






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






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






37. Number of alternatives that a consumer actually considers in making a purchase decision






38. Purchasing goods and services from suppliers worldwide






39. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






40. 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






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






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






43. Marketing domestically produced goods and services in foreign countries






44. 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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45. Popular name for junk email






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






47. Brand name owned by a manufacturer or other producer

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






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






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