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. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






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






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






4. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)






5. Products that consumers purchase after comparing competing offerings






6. 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






7. 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






8. Consumer reliance on previous experiences with a product to choose that product again






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






10. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness






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






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






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






14. Relationship in which an organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity






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






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






17. Hiring workers to do jobs from their homes






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






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






20. Single brand name that identifies several related products






21. 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.






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






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






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






25. Intangible tasks that satisfy the needs of consumer and business users






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






27. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase






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






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






30. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






31. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves






32. Sequence of suppliers that contribute to the creation and delivery of a good or service






33. Established price normally quoted to potential buyers






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






35. 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






36. Brand name owned by a manufacturer or other producer


37. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers






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






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






40. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments






41. 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






42. 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






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






44. Features that a consumer considers in chosing among alternatives






45. 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.






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






47. 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


48. Marketing information system component that links a decision marketer with relevant databases and analysis tools






49. Distribution of a product through all available channels






50. Tax levied against imported goods