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






2. Consumer reliance on previous experiences with a product to choose that product again






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






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






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






6. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer






7. Use of the internet for business transactions between organizations






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






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. Technology that uses a tiny chip with identification information that can be read by a scanner using radio waves from a distance






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






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






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






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






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






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






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






18. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives






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






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






21. 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






22. Sequence of suppliers that contribute to the creation and delivery of a good or service






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






24. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






25. Products characterized by plain labels - no advertising - and the absence of brand names






26. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.






27. 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






28. Hiring workers to do jobs from their homes






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






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






31. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.






32. 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






33. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise






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






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






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






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






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






39. Firm's communications and relationships with its various publics






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

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41. Site whose main purpose is to increase purchases by visitors






42. Process of coordinating the flow of information - goods - and services among members of the distribution channel






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






44. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights






45. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing






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






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






48. 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






49. Application to marketing of knowledge based on discoveries in science - inventions - and innovations






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