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






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






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






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






5. Exchange value of a good or service






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






7. Short for web log-- an online journal for an individual or organization






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






10. State laws requiring sellers to maintain minimum prices for comparable merchandise






11. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)






12. 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






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






14. Information collected specifically for the investigation at hand






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






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






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






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






19. Purchasing goods and services from suppliers worldwide






20. Popular name for junk email






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






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






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






24. 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






25. Established price normally quoted to potential buyers






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






27. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs






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






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






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






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






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






33. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






34. Process through which buyers make purchasing decisions






35. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






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






37. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions






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






39. Selling directly to consumers over the internet






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






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






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






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






44. Detailed description of the resources and actions needed to achieve stated marketing objectives






45. 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






46. Marketing intermediaries that operate in the trade sector






47. 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






48. Process of collecting information about the external environment to identify and interpret potential trends






49. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






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







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