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






2. Brand for which the owner claims exclusive legal protection






3. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship






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






5. Selling directly to consumers over the internet






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






7. Messages that deal with buyer-seller relationships






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






9. 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






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






11. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






12. Tax levied against imported goods






13. Distribution of a product through a single wholesaler or retailer in a specific geographic region






14. 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






15. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways






16. Movement of goods and services from producers to customers






17. Trendsetters who purchase new products before others in a group and then influence others in thier purchases






18. Agent wholesaling intermediary that does not take title to or possesion of goods in the course of its primary function - which is to bring together buyers and sellers






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






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






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






22. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment






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






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






25. Purchasing goods and services from suppliers worldwide






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






27. Amount that a retailer adds to the cost of a product to determine its selling price






28. 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






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






30. Established price normally quoted to potential buyers






31. Process of coordinating the flow of information - goods - and services among members of the distribution channel






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






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






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






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






36. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight






37. 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






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






39. 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






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






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






42. Planning that guides the implementation of activities specified in the strategic plan






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






44. 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






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






46. 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






47. Tangible products that customers can see - hear - smell - taste - or touch






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






49. Moving jobs to vendors in countries close to the businesses home country






50. 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