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






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






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






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






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






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






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






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






9. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.






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






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






12. 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






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






14. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






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






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






18. Tax levied against imported goods






19. Interactive process that occurs in the marketplace among marketers of directly competitive products - marketers of products that can be substituted for one another - and marketers competing for the consumer's purchasing power






20. Sales presentations made at prospective customer's' locations on a face-to- face basis






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






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






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






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






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






26. Product destined for use by ultimate consumers






27. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






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






30. Company website that sells products to customers






31. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause






32. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






33. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments






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






35. Selling directly to consumers over the internet






36. Products bought by ultimate consumers for personal use






37. 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






38. 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






39. Marketing domestically produced goods and services in foreign countries






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






41. Price of one nation's currency in terms of another country's currency






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






43. Brand for which the owner claims exclusive legal protection






44. Features that a consumer considers in chosing among alternatives






45. Consumer refusal of alternatives and extensive search for desired merchandise






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






47. 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






48. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






49. Person's multifaceted picture of himself or herself






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