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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. Tax levied against imported goods






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






3. Established price normally quoted to potential buyers






4. Comprehensive term that describes wholesalers as well as agents and brokers






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






6. Marketing of sporting - cultural - and charitable activities to selected target markets






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






8. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices






9. Placing a product at a certain point or location within a marketin the minds of prospective buyers






10. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer






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






12. 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






13. Process of selecting survey respondents or research participants






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






15. 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






16. Company website that sells products to customers






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






18. Division of the total market into smaller - relatively homogenous groups






19. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale






20. Messages that deal with buyer-seller relationships






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






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






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






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






25. Marketers' standards of conduct and moral values






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






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






28. Firm whose marketing specialists help advertisers plan and prepare advertisements






29. Consumer awareness and identification of a brand






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






31. Series of related products offered by one company






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






33. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






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






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






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






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






39. 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.






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






41. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






42. Company wide consumer orientation with the objective of achieving long-run success--all facets from top to bottom of the organization contribute to satisfying customer needs and wants






43. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






44. 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






45. Marketing intermediaries that operate in the trade sector






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






47. Strategy of attaching a popular brand name to a new product in an unrelated product category






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






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






50. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business