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. Traditional prices that customers expect to pay for certain goods and services






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






3. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






4. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance






5. 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






6. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public






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






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






9. Percentage of people presented with a banner ad who click on it






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






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






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






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






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






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






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






17. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)






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






19. Distribution of a product through a single wholesaler or retailer in a specific geographic region






20. 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






21. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale






22. Brand name owned by a manufacturer or other producer

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23. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






24. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer






25. Movement of goods and services from producers to customers






26. Marketing domestically produced goods and services in foreign countries






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






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






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






30. Exchange value of a good or service






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






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






33. Consumer awareness and identification of a brand






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






35. Hiring workers to do jobs from their homes






36. 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






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






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






39. 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






40. Amount by which a retailer reduces the original selling price of a product






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






42. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.






43. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






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






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






46. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's






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






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






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






50. Previously published information