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. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer






2. Marketing intermediaries that operate in the trade sector






3. Product destined for use by ultimate consumers






4. Site whose main purpose is to increase purchases by visitors






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






6. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers






7. 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






8. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






9. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions






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






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






12. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me






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






14. Dominant and controlling member of a marketing channel






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






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






17. 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.






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






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






20. Intangible tasks that satisfy the needs of consumer and business users






21. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action






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






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






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






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






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






27. 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






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






29. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product






30. Hiring workers to do jobs from their homes






31. Want-satisfying power of a good or service






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






33. Features that a consumer considers in chosing among alternatives






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






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






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






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






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






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






40. Movement of goods and services from producers to customers






41. 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






42. 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






43. Products that consumers purchase after comparing competing offerings






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






45. Products bought by ultimate consumers for personal use






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






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






48. Brand for which the owner claims exclusive legal protection






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






50. Imbalance between a consumer's actual and desired states