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






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






3. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing






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






5. Process of coordinating the flow of information - goods - and services among members of the distribution channel






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






7. Hiring workers to do jobs from their homes






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






10. Form of exporting whereby goods and services are bartered rather than sold for cash






11. Component of the marketing environment consisting of the relationship between the marketer - society - and culture






12. Purchasing goods and services from suppliers worldwide






13. Movement of goods and services from producers to customers






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






15. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






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






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






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






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






20. Detailed description of the resources and actions needed to achieve stated marketing objectives






21. Nonpersonal selling of a particular good or service






22. Progression of a product through introduction - growth - maturity - and decline stages






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






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






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






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






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






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






29. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.






30. Brand for which the owner claims exclusive legal protection






31. Products that consumers purchase after comparing competing offerings






32. 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






33. Process through which buyers make purchasing decisions






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






35. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight






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






37. Division of the total market into smaller - relatively homogenous groups






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






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






40. Products bought by ultimate consumers for personal use






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






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






43. Trendsetters who purchase new products before others in a group and then influence others in thier purchases






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






45. Percentage of people presented with a banner ad who click on it






46. Information collected specifically for the investigation at hand






47. Single brand name that identifies several related products






48. Production - promotion - and reclamation of environmentally sensitive products






49. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)






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