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. Nonpersonal selling of a particular good or service






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






3. Established price normally quoted to potential buyers






4. 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






5. 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






6. Dominant and controlling member of a marketing channel






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






8. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility






9. 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.






10. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior






11. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders






12. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






13. Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler






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






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






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






17. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale


18. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders






19. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






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






21. Group of retail stores planned - coordinated - and marketed as a unit






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






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






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






25. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship






26. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






27. Added value that a respected - well-known brand name gives to a product in the marketplace






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






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






30. Previously published information






31. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition






32. Consumer awareness and identification of a brand






33. 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






34. 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


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






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






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






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






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






40. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






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






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






43. Process of selecting survey respondents or research participants






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






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






46. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives






47. Purchasing goods and services from suppliers worldwide






48. Company website that sells products to customers






49. Bundle of physical - service - and symbolic attributes designed to satisfy a customer's wants and needs






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