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






2. Application to marketing of knowledge based on discoveries in science - inventions - and innovations






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






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






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






6. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price






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






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






9. Purchasing goods and services from suppliers worldwide






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






11. 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.






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






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






14. Comprehensive term that describes wholesalers as well as agents and brokers






15. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives






16. 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






17. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs






18. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again






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






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






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






22. Marketing information system component that links a decision marketer with relevant databases and analysis tools






23. Previously published information






24. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






25. Marketing intermediaries that operate in the trade sector






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






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






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






29. Company wide consumer orientation with the objective of achieving long-run success--all facets from top to bottom of the organization contribute to satisfying customer needs and wants






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






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






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






33. Messages that deal with buyer-seller relationships






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






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






36. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.






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






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






39. Agreement that grants foreign marketers the right to distribute a firm's merchandise or to use its trademark - patent - or process in a specified geographic area






40. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






41. 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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42. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment






43. Dominant and controlling member of a marketing channel






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






45. Process through which buyers make purchasing decisions






46. Products that consumers purchase after comparing competing offerings






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






48. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness






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






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