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






2. 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






3. 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






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






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






6. Brand for which the owner claims exclusive legal protection






7. Selling directly to consumers over the internet






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






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






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

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11. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior






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






13. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.






14. Features that a consumer considers in chosing among alternatives






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






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






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






18. Percentage of visitors to a website who make a purchase






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






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






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






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






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






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






26. Series of related products offered by one company






27. Way to evaluate each of an organization's SBUs - like a portfolio performance framework. The market share/ market growth matrix places SBU's in a 4 quadrant chart that plots market share against market growth potential and then places them in one of






28. Physiological - safety - social/belongingness - esteem needs - self-actualization

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29. 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






30. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






31. Agent wholesaling intermediary that does not take title to or possesion of goods in the course of its primary function - which is to bring together buyers and sellers






32. 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






33. 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






34. 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






35. Previously published information






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






37. Relationship in which an organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity






38. Offering two or more complementary products and selling them for a single price






39. Products that consumers purchase after comparing competing offerings






40. 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






41. Segmenting a business-to-business market based on how industrial purchasers will use the product






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






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






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






45. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats






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






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






48. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






49. Marketing intermediaries that operate in the trade sector






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







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