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






2. Single brand name that identifies several related products






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






4. Popular name for junk email






5. Percentage of people presented with a banner ad who click on it






6. Previously published information






7. Amount by which a retailer reduces the original selling price of a product






8. Marketing domestically produced goods and services in foreign countries






9. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner






10. 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






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






12. Participants in an organizational buying action A






13. 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






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






15. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market






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






17. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results






18. Selling by phone - mail - and electronic commerce






19. Combination of physical chacterisitics and amenities that contribute to a store's image






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






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






22. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action






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

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24. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






26. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves






27. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.






28. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






29. 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






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






31. Company website that sells products to customers






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






33. Activities involved in selling merchandise to ultimate consumers






34. Form of exporting whereby goods and services are bartered rather than sold for cash






35. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again






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






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






38. 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






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






40. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






41. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers






42. 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






43. People who purchase new products almost as soon as the products reach the market






44. Consumer awareness and identification of a brand






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






46. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs






47. Brand name owned by a manufacturer or other producer

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48. Computer-to-computer exchanges of invoices - orders - and other business documents






49. Exchange value of a good or service






50. 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







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