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. 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


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






3. 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






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






5. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands






6. Marketers' standards of conduct and moral values






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






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






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






10. 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






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






12. Process of selecting survey respondents or research participants






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






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






15. Products that consumers purchase after comparing competing offerings






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






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






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






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






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






21. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers






22. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.






23. 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






24. 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






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






26. Company website that sells products to customers






27. Product destined for use by ultimate consumers






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






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






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






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






32. Series of related products offered by one company






33. Application to marketing of knowledge based on discoveries in science - inventions - and innovations






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






35. Inner state that directs a person toward the goal of satisfying a need






36. Selling by phone - mail - and electronic commerce






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






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






39. 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






40. Retailing practice of combining dissimilar product lines to boost sales volume






41. Messages that deal with buyer-seller relationships






42. Products bought by ultimate consumers for personal use






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






44. Dominant and controlling member of a marketing channel






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






46. 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






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






48. Interactive process that occurs in the marketplace among marketers of directly competitive products - marketers of products that can be substituted for one another - and marketers competing for the consumer's purchasing power






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






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