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






2. 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






3. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders






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






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






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






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






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






9. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products






10. Process of selecting survey respondents or research participants






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






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






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






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






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






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






17. Planned channel system designed to improve distribution and cost effectiveness by integrating various functions throughout the distribution chain






18. Identification and marketing of a social issue - cause - or idea to selected target markets






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






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






21. Movement of goods and services from producers to customers






22. 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






23. Tax levied against imported goods






24. Coordination of all promotional activities to produce a unified - customer-focused promotional message






25. 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






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






27. Pricing strategy involving the use of a high price relative to competitive offerings






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






29. Selling directly to consumers over the internet






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






31. Established price normally quoted to potential buyers






32. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs






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






34. Brand for which the owner claims exclusive legal protection






35. 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






36. Features that a consumer considers in chosing among alternatives






37. 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.






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

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39. 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.






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






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






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






43. 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






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






45. Intangible products that firms buy to facilitate their production and operating processes






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






47. Firm's communications and relationships with its various publics






48. Inner state that directs a person toward the goal of satisfying a need






49. 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






50. 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