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






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






3. Measure of responsiveness of purchasers and suppliers to a change in price






4. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public






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






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






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






8. Way to evaluate each of an organization's SBUs - like a portfolio performance framework. The market share/ market growth matrix places SBU's in a 4 quadrant chart that plots market share against market growth potential and then places them in one of






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






10. Intangible products that firms buy to facilitate their production and operating processes






11. 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






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






13. Grid that organizes numerical information in a standardized - easily understood format






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

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






16. 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






17. Site designed to increase a firm's visibility - promote its offerings - and provide information to interested parties






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






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






20. 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






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






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






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






24. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers






25. 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






26. Person's multifaceted picture of himself or herself






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






28. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment






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






30. 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






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






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






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






34. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's






35. 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






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






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






38. Traditional prices that customers expect to pay for certain goods and services






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






40. 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






41. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






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






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






44. Use of the internet for business transactions between organizations






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






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






47. Number of alternatives that a consumer actually considers in making a purchase decision






48. Process of selecting survey respondents or research participants






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






50. Brand for which the owner claims exclusive legal protection