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. Process of selecting survey respondents or research participants






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






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






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






5. Placing a product at a certain point or location within a marketin the minds of prospective buyers






6. Using outside vendors to provide goods and services formerly produced in-house






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






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






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






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






12. 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






13. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel

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






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






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






17. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept






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






19. Selling by phone - mail - and electronic commerce






20. Use of the internet for business transactions between organizations






21. 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






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






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






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






25. Marketing intermediaries that operate in the trade sector






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






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






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






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






30. Tax levied against imported goods






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






32. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






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






34. Sample that gives every member of the population a chance of being selected






35. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources






36. Process through which buyers make purchasing decisions






37. Selling directly to consumers over the internet






38. Series of related products offered by one company






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

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






41. 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






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






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






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






45. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






46. Identification and marketing of a social issue - cause - or idea to selected target markets






47. Coordination of all promotional activities to produce a unified - customer-focused promotional message






48. Features that a consumer considers in chosing among alternatives






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






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