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






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






3. Use of the internet for business transactions between organizations






4. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment






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






6. 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






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






8. Computer-to-computer exchanges of invoices - orders - and other business documents






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






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






11. Exchange value of a good or service






12. Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the internetand virtual reality kiosks






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






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






15. Division of a population into homogenous groups based on thier relationships to the product






16. 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






17. Want-satisfying power of a good or service






18. Marketing intermediaries that operate in the trade sector






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






20. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






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






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

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23. Brand for which the owner claims exclusive legal protection






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






25. Combination of transport modes such as rail and highway carriers (piggyback) - air and highway carriers (birdyback) - and water and air carriers (fishyback) to improve customer service and achieve cost advantages






26. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.






27. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs






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






29. Company website that sells products to customers






30. Consumer awareness and identification of a brand






31. Percentage of visitors to a website who make a purchase






32. Traditional prices that customers expect to pay for certain goods and services






33. Number of alternatives that a consumer actually considers in making a purchase decision






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






35. Previously published information






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






37. Tax levied against imported goods






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






39. Hiring workers to do jobs from their homes






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






41. Group of retail stores planned - coordinated - and marketed as a unit






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






43. 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






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






45. Products bought by ultimate consumers for personal use






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






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






48. 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






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






50. Series of related products offered by one company







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Can you answer 50 questions in 15 minutes?


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