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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. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information






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






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






4. Cooperative agreement in which two businesses jointly market each other's product






5. Offering two or more complementary products and selling them for a single price






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






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






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






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






10. Exchange value of a good or service






11. 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






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






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






14. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






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






16. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept






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






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






19. Process of reducing consumer demand for a good or service to a level that the firm can supply






20. Distribution of a product through all available channels






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






22. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves






23. Marketers' standards of conduct and moral values






24. 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






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






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






27. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






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






29. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale

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






31. Nonpersonal stimulation of demand for a good - service - place - idea - person - or organization by unpaid placement of significant news regarding the product in a print or broadcast medium






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






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






34. Brand name owned by a manufacturer or other producer

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






36. Movement of high-wage jobs from one country to lower-cost overseas locations






37. Values - beliefs - preferences - and tastes handed down from one generation to the next






38. 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






39. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales






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






41. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits






42. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices






43. 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






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






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






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






47. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






48. 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






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






50. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers







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