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. Moving jobs to vendors in countries close to the businesses home country






2. Selling directly to consumers over the internet






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






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






5. 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






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






7. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers






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






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






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






11. Pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices






12. Relationship in which an organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity






13. Process through which buyers make purchasing decisions






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






15. 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






16. Movement of goods and services from producers to customers






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






18. Series of related products offered by one company






19. Production - promotion - and reclamation of environmentally sensitive products






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






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






22. 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

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






24. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






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






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






28. Features that a consumer considers in chosing among alternatives






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






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






31. 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






32. Activity in which 2 or more parties give something of value to each other to satisy perceived needs






33. 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






34. 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






35. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me






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






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






38. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






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






40. 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






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






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






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






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






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






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






47. 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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48. Want-satisfying power of a good or service






49. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again






50. Measure of responsiveness of purchasers and suppliers to a change in price