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






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. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business






4. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






5. Sequence of suppliers that contribute to the creation and delivery of a good or service






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






7. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)






8. Division of an overall market into homogenous groups based on thier location






9. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision






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






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






12. Company website that sells products to customers






13. Tangible products that customers can see - hear - smell - taste - or touch






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






15. Sample that gives every member of the population a chance of being selected






16. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer






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






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






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






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






21. Consumer reliance on previous experiences with a product to choose that product again






22. 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






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






24. 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






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






26. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner






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






28. Activity in which 2 or more parties give something of value to each other to satisy perceived needs






29. 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






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






31. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel

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32. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance






33. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market






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






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






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






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






38. 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






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






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






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






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






43. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause






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






45. Site designed to increase a firm's visibility - promote its offerings - and provide information to interested parties






46. Technology that uses a tiny chip with identification information that can be read by a scanner using radio waves from a distance






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






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






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






50. Movement of goods and services from producers to customers