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. 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






2. Person's multifaceted picture of himself or herself






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






4. 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






5. Exchange value of a good or service






6. Products that consumers purchase after comparing competing offerings






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






8. 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






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






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






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






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






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






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






15. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices






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






17. 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






18. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.






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






20. Marketing information system component that links a decision marketer with relevant databases and analysis tools






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






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






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






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






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






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






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






28. Inner state that directs a person toward the goal of satisfying a need






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






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






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






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






33. 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






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






35. Observational research method developed by social anthropologists in which customers are observed in thier natural setting and thier behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography o






36. 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






37. Estimate of a firm's revenue for a specified future period






38. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






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






40. Process by which new goods or services are accepted in the marketplace






41. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit






42. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight






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






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






45. 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






46. Marketing intermediaries that operate in the trade sector






47. Single brand name that identifies several related products






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






49. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer






50. Amount by which a retailer reduces the original selling price of a product