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. 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






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






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






4. 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






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






6. 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






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






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






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






10. Marketing domestically produced goods and services in foreign countries






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






12. Combination of physical chacterisitics and amenities that contribute to a store's image






13. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers






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






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






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






17. Hiring workers to do jobs from their homes






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






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






20. Features that a consumer considers in chosing among alternatives






21. Messages that deal with buyer-seller relationships






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






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






24. Company website that sells products to customers






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






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






27. Pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices






28. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept






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






30. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.






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






32. 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.






33. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives






34. Comprehensive term that describes wholesalers as well as agents and brokers






35. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together






36. Moving jobs to vendors in countries close to the businesses home country






37. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation






38. Using outside vendors to provide goods and services formerly produced in-house






39. Marketing intermediaries that operate in the trade sector






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






41. 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






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






43. Selling directly to consumers over the internet






44. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort






45. Nonpersonal selling of a particular good or service






46. Specified deduction from a list price - including a trade-in or promotional allowance






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






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






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






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