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






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






3. 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






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






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






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






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






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






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






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






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






13. 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






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






15. Selling directly to consumers over the internet






16. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility






17. Division of the total market into smaller - relatively homogenous groups






18. Process of coordinating the flow of information - goods - and services among members of the distribution channel






19. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition






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






21. Single brand name that identifies several related products






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






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






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






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






26. Activities involved in selling merchandise to ultimate consumers






27. Company wide consumer orientation with the objective of achieving long-run success--all facets from top to bottom of the organization contribute to satisfying customer needs and wants






28. 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






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






30. Distribution of a product through a limited number of channels






31. Series of different but related ads that use a single theme and appear in different media within a specified time period






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






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






34. 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






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






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






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






38. Dominant and controlling member of a marketing channel






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






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






41. Tax levied against imported goods






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






43. 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






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






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






46. Messages that deal with buyer-seller relationships






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






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






49. 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






50. Popular name for junk email