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






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






3. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






4. Traditional prices that customers expect to pay for certain goods and services






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






6. Single brand name that identifies several related products






7. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same






8. Placing a product at a certain point or location within a marketin the minds of prospective buyers






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






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






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






12. Product destined for use by ultimate consumers






13. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






14. Sample that gives every member of the population a chance of being selected






15. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs






16. Site designed to increase a firm's visibility - promote its offerings - and provide information to interested parties






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






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






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






20. Offering within a product line such as a specific size of liquid detergent






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






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






23. Activities involved in selling merchandise to ultimate consumers






24. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line






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






26. Values - beliefs - preferences - and tastes handed down from one generation to the next






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






28. Tangible products that customers can see - hear - smell - taste - or touch






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






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






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






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






33. Process of reducing consumer demand for a good or service to a level that the firm can supply






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






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






36. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market






37. Accord removing trade barriers between Canada - Mexico - and the US






38. Brand name owned by a manufacturer or other producer


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






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






41. 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






42. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)






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






44. Marketing domestically produced goods and services in foreign countries






45. Division of a population into homogenous groups based on thier relationships to the product






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






47. 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






48. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






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






50. Combination of transport modes such as rail and highway carriers (piggyback) - air and highway carriers (birdyback) - and water and air carriers (fishyback) to improve customer service and achieve cost advantages