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CLEP Marketing

Subjects : clep, business-skills
Instructions:
  • Answer 50 questions in 30 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. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales






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






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






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






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






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






7. Dominant and controlling member of a marketing channel






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






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






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






11. Specified deduction from a list price - including a trade-in or promotional allowance






12. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business






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






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






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






16. Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the internetand virtual reality kiosks






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






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






19. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.






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






21. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.






22. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






23. Component of the marketing environment consisting of the relationship between the marketer - society - and culture






24. Messages that deal with buyer-seller relationships






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






26. International trade accord that has helped reduce world tariffs






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






28. Site designed to increase a firm's visibility - promote its offerings - and provide information to interested parties






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






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






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






32. Distribution of a product through all available channels






33. Marketing domestically produced goods and services in foreign countries






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






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






36. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action






37. Activity in which 2 or more parties give something of value to each other to satisy perceived needs






38. Marketing intermediaries that operate in the trade sector






39. Imbalance between a consumer's actual and desired states






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






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






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






43. Selling directly to consumers over the internet






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






45. 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






46. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






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






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






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


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






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