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






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






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






4. Selling directly to consumers over the internet






5. Products bought by ultimate consumers for personal use






6. Process by which new goods or services are accepted in the marketplace






7. Single brand name that identifies several related products






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






9. Marketing intermediaries that operate in the trade sector






10. Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler






11. Distribution of a product through a limited number of channels






12. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways






13. Amount that a retailer adds to the cost of a product to determine its selling price






14. Previously published information






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






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






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






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






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






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






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






22. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale






23. Use of the internet for business transactions between organizations






24. Purchasing foreign goods and services






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






26. 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






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






28. 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






29. 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






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






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






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






33. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market






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






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






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






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






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






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






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






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






42. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






43. 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






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






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






47. Estimate of a firm's revenue for a specified future period






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






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






50. Information collected specifically for the investigation at hand