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






2. 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






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






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






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






6. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






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






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






9. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered






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






11. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again






12. Accord removing trade barriers between Canada - Mexico - and the US






13. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action






14. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase






15. Want-satisfying power of a good or service






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






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






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






19. Physiological - safety - social/belongingness - esteem needs - self-actualization

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






21. Observational research method developed by social anthropologists in which customers are observed in thier natural setting and thier behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography o






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






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






24. Affiliation of 2 or more companies that help each other achieve common goals






25. 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






26. Use of the internet for business transactions between organizations






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






28. Amount by which a retailer reduces the original selling price of a product






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






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






31. Person's multifaceted picture of himself or herself






32. Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling to achieve promotional objectives






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






34. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer






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






36. State laws requiring sellers to maintain minimum prices for comparable merchandise






37. Intangible tasks that satisfy the needs of consumer and business users






38. Activities involved in selling merchandise to ultimate consumers






39. 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






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






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






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






43. Features that a consumer considers in chosing among alternatives






44. Brand for which the owner claims exclusive legal protection






45. Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services






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






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






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






49. 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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50. Percentage of people presented with a banner ad who click on it