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. 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






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






3. 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






4. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective






5. 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






6. Popular name for junk email






7. 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






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






9. Movement of high-wage jobs from one country to lower-cost overseas locations






10. 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






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






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






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






14. 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






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






16. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






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






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






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






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






21. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience






22. Process of selecting survey respondents or research participants






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

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






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






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






27. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






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






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






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






31. Messages that deal with buyer-seller relationships






32. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






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






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






35. Dominant and controlling member of a marketing channel






36. Progression of a product through introduction - growth - maturity - and decline stages






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






38. Sample that involves personal judgement somehwere in the selection process






39. International trade accord that has helped reduce world tariffs






40. Process through which buyers make purchasing decisions






41. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






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






43. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale






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






45. Bundle of physical - service - and symbolic attributes designed to satisfy a customer's wants and needs






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






47. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market






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






49. Participants in an organizational buying action A






50. Division of an overall market into homogenous groups based on thier location