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 technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost






2. 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






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






4. 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






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






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






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






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






9. 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






10. Products bought by ultimate consumers for personal use






11. Site whose main purpose is to increase purchases by visitors






12. Segmenting a business-to-business market based on how industrial purchasers will use the product






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






14. 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






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






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






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






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






19. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers






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






21. Inner state that directs a person toward the goal of satisfying a need






22. 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






23. Brand name owned by a manufacturer or other producer

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24. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's






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






26. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth






27. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






28. State laws requiring sellers to maintain minimum prices for comparable merchandise






29. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






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






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






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






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






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






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






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






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






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






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






40. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






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






42. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






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






44. Purchasing foreign goods and services






45. 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






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






47. Selling by phone - mail - and electronic commerce






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






49. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






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