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. Movement of goods and services from producers to customers






2. Trade restrictions that limit the number of units of certain goods that can enter a country for resale






3. Use of the internet for business transactions between organizations






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






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






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






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






8. Single brand name that identifies several related products






9. Hiring workers to do jobs from their homes






10. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs






11. 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






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






13. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






14. Information collected specifically for the investigation at hand






15. Want-satisfying power of a good or service






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






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






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






19. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights






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






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






22. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






23. 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)






24. 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

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25. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same






26. 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






27. Process through which buyers make purchasing decisions






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






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






30. Agreement that grants foreign marketers the right to distribute a firm's merchandise or to use its trademark - patent - or process in a specified geographic area






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






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






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






34. Values - beliefs - preferences - and tastes handed down from one generation to the next






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






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






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






38. 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






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






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






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






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






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






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






45. Measure of responsiveness of purchasers and suppliers to a change in price






46. Observational research method developed by social anthropologists in which customers are observed in thier natural setting and thier behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography o






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






48. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing






49. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives






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