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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. 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






2. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth






3. Use of the internet for business transactions between organizations






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






5. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)






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






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






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






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






10. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness






11. Affiliation of 2 or more companies that help each other achieve common goals






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






13. Production - promotion - and reclamation of environmentally sensitive products






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






15. Marketing intermediaries that operate in the trade sector






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






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






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






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






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






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






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






23. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings






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






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






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






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






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






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






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






31. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






32. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






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






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






35. 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






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






37. Dominant and controlling member of a marketing channel






38. Brand for which the owner claims exclusive legal protection






39. Purchasing goods and services from suppliers worldwide






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






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






42. 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.






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






44. Exchange value of a good or service






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






46. 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






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






48. 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






49. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together






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