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 related products offered by one company






2. 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






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






4. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market






5. Consumer awareness and identification of a brand






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






7. Planning that guides the implementation of activities specified in the strategic plan






8. Purchasing goods and services from suppliers worldwide






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






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






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






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

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13. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency






14. Organizational sales and purchases of goods and services to support production of other products - to facilitate daily company operations - or for resale






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






16. Promotional effort by the seller directed to members of the marketing channel rather than final users






17. Formal document that outlines a companies objectives - how they will be met - how the business will obtain financing - and how much money the company expects to earn.






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






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






20. Hiring workers to do jobs from their homes






21. Amount that a retailer adds to the cost of a product to determine its selling price






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






23. Nonpersonal selling of a particular good or service






24. Activities involved in selling merchandise to ultimate consumers






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






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






27. 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






28. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market






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






30. 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






31. Firm whose marketing specialists help advertisers plan and prepare advertisements






32. 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






33. 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






34. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications






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






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






37. 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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38. Process of selecting survey respondents or research participants






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






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






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






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






43. Brand name owned by a manufacturer or other producer

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






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






46. Products characterized by plain labels - no advertising - and the absence of brand names






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






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






49. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






50. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness