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






2. Short for web log-- an online journal for an individual or organization






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






4. Exchange value of a good or service






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






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






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






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






9. Tax levied against imported goods






10. Activities involved in selling merchandise to ultimate consumers






11. 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






12. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing






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






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






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






16. Sales presentations made at prospective customer's' locations on a face-to- face basis






17. 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






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






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






20. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






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






22. Process through which buyers make purchasing decisions






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






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






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






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






27. Marketing information system component that links a decision marketer with relevant databases and analysis tools






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






29. 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






30. Previously published information






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






32. Division of the total market into smaller - relatively homogenous groups






33. Products that consumers purchase after comparing competing offerings






34. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats






35. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders






36. 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






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






38. Bundle of physical - service - and symbolic attributes designed to satisfy a customer's wants and needs






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






40. Simultaneous personal interview of a small group of individuals - which relies on group discussion about a certain topic






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. Price of one nation's currency in terms of another country's currency






43. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments






44. Marketing intermediaries that operate in the trade sector






45. Sample that involves personal judgement somehwere in the selection process






46. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






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






48. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth






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






50. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products