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. Loss of sales of an existing product due to competition from a new product in the same line






2. Intangible products that firms buy to facilitate their production and operating processes






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






4. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






5. Process by which new goods or services are accepted in the marketplace






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






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






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






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






10. 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






11. Use of the internet for business transactions between organizations






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






13. Nonpersonal selling of a particular good or service






14. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats






15. Offering within a product line such as a specific size of liquid detergent






16. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel

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






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






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






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






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






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






23. Pricing strategy involving the use of a high price relative to competitive offerings






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






25. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






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






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






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






29. Marketing domestically produced goods and services in foreign countries






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






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






32. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings






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






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






35. Offering two or more complementary products and selling them for a single price






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






37. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






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






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

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40. Distribution of a product through all available channels






41. Features that a consumer considers in chosing among alternatives






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






43. 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






44. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise






45. 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






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






47. Process through which buyers make purchasing decisions






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






49. Person's multifaceted picture of himself or herself






50. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.