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






2. 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






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






4. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products






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






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






7. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results






8. Distribution of a product through all available channels






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






10. 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






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






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






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






14. Movement of goods and services from producers to customers






15. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






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






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






18. 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






19. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner






20. Tax levied against imported goods






21. Sales presentations made at prospective customer's' locations on a face-to- face basis






22. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept






23. 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






24. Distribution of a product through a single wholesaler or retailer in a specific geographic region






25. Physiological - safety - social/belongingness - esteem needs - self-actualization

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






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






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






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






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






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






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






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






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






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






36. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.






37. Previously published information






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






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






41. Strategy of attaching a popular brand name to a new product in an unrelated product category






42. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs






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






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






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






47. Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler






48. Coordination of all promotional activities to produce a unified - customer-focused promotional message






49. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings






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







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