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. Trade restrictions that limit the number of units of certain goods that can enter a country for resale






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






3. 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






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






5. 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






6. Dominant and controlling member of a marketing channel






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






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






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






10. Percentage of visitors to a website who make a purchase






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






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






13. Firm's communications and relationships with its various publics






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






15. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






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






17. Products bought by ultimate consumers for personal use






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






19. Site whose main purpose is to increase purchases by visitors






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






21. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace






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






23. Affiliation of 2 or more companies that help each other achieve common goals






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






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






26. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy






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






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






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






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






31. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






32. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities






33. Brand for which the owner claims exclusive legal protection






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






35. Promotional effort by the seller directed to members of the marketing channel rather than final users






36. 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






37. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






38. Process of selecting survey respondents or research participants






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






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






41. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives






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






43. Computer-to-computer exchanges of invoices - orders - and other business documents






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






45. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer






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






47. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






48. Selling directly to consumers over the internet






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






50. Short for web log-- an online journal for an individual or organization