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. Division of a population into homogenous groups based on thier relationships to the product






2. 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






3. Movement of goods and services from producers to customers






4. Using outside vendors to provide goods and services formerly produced in-house






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






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






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






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






9. 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






10. Products that consumers purchase after comparing competing offerings






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






12. Retailing practice of combining dissimilar product lines to boost sales volume






13. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales






14. 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






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






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






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






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






19. Series of related products offered by one company






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






21. Consumer awareness and identification of a brand






22. 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






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






24. Process through which buyers make purchasing decisions






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






26. Sample that involves personal judgement somehwere in the selection process






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






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






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






30. Distribution of a product through all available channels






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






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






33. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






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






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






36. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.






37. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them






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






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






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






41. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer






42. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort






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






44. Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling to achieve promotional objectives






45. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products






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






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






48. 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






49. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






50. Imbalance between a consumer's actual and desired states