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. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






2. Movement of goods and services from producers to customers






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






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






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






6. Series of different but related ads that use a single theme and appear in different media within a specified time period






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






8. 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






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






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






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






12. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase






13. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers






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






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






16. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives






17. Established price normally quoted to potential buyers






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






19. Marketing intermediaries that operate in the trade sector






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






21. Accord removing trade barriers between Canada - Mexico - and the US






22. 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






23. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results






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






25. 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






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






27. Nonpersonal selling of a particular good or service






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






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






30. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.






31. Single brand name that identifies several related products






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






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






34. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.






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






36. Strategy of attaching a popular brand name to a new product in an unrelated product category






37. Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost






38. Process of collecting and using information for marketing decision making






39. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace






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






41. Consumer reliance on previous experiences with a product to choose that product again






42. Process through which buyers make purchasing decisions






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






44. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






45. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner






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






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






48. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.






49. Intangible products that firms buy to facilitate their production and operating processes






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