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






3. Group of retail stores planned - coordinated - and marketed as a unit






4. Dominant and controlling member of a marketing channel






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






6. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public






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






8. 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






9. Products that consumers purchase after comparing competing offerings






10. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats






11. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






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






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






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






15. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise






16. 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






17. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






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






19. 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






20. Firm whose marketing specialists help advertisers plan and prepare advertisements






21. Person's multifaceted picture of himself or herself






22. Planning that guides the implementation of activities specified in the strategic plan






23. Use of the internet for business transactions between organizations






24. 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






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






26. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






27. Interactive process that occurs in the marketplace among marketers of directly competitive products - marketers of products that can be substituted for one another - and marketers competing for the consumer's purchasing power






28. 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






29. Cooperative agreement in which two businesses jointly market each other's product






30. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






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






32. Series of related products offered by one company






33. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






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






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






36. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them






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

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38. 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






39. Marketing domestically produced goods and services in foreign countries






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






41. Marketers' standards of conduct and moral values






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






43. Marketing intermediaries that operate in the trade sector






44. Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services






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






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






47. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings






48. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers






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






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