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






2. Tax levied against imported goods






3. Loss of sales of an existing product due to competition from a new product in the same line






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






5. 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






6. Process of collecting information about the external environment to identify and interpret potential trends






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






8. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship






9. Product destined for use by ultimate consumers






10. 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






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






12. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






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






15. 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.






16. Development - growth - and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit.






17. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources






18. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers






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






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






21. Marketers' standards of conduct and moral values






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






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






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






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






26. Distribution of a product through a single wholesaler or retailer in a specific geographic region






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






28. Purchasing goods and services from suppliers worldwide






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






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






31. 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






32. Model developed by strategy expert Michael Porter that identifies 5 competitive forces that influence planning strategies; 1. the threat of new entrants 2. the bargaining power of buyers 3. the bargaining power of suppliers 4. the threat of substitut

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






34. Products bought by ultimate consumers for personal use






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






36. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






37. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






38. 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






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






40. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






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






42. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






43. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market






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






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






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






47. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments






48. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






49. Marketing of sporting - cultural - and charitable activities to selected target markets






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