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. Activities involved in selling merchandise to ultimate consumers






2. Company website that sells products to customers






3. Selling directly to consumers over the internet






4. 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






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






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






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






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






9. 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






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






11. 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.






12. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands






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






14. Offering within a product line such as a specific size of liquid detergent






15. Distribution of a product through all available channels






16. Simultaneous personal interview of a small group of individuals - which relies on group discussion about a certain topic






17. 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






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






19. 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






20. Combination of physical chacterisitics and amenities that contribute to a store's image






21. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.






22. 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






23. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line






24. 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






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






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






27. Previously published information






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






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






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






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






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






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


34. 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






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






36. Inner state that directs a person toward the goal of satisfying a need






37. Imbalance between a consumer's actual and desired states






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






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






40. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same






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






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






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






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






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






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






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






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






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






50. 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