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. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace






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






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






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






5. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale






6. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l






7. 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






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






9. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)






10. Segmenting a business-to-business market based on how industrial purchasers will use the product






11. Consumer refusal of alternatives and extensive search for desired merchandise






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






13. Marketing intermediaries that operate in the trade sector






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






15. Division of an overall market into homogenous groups based on thier location






16. Purchasing goods and services from suppliers worldwide






17. Hiring workers to do jobs from their homes






18. Use of the internet for business transactions between organizations






19. Messages that deal with buyer-seller relationships






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






21. Purchasing foreign goods and services






22. Marketing domestically produced goods and services in foreign countries






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






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






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






27. Information collected specifically for the investigation at hand






28. Added value that a respected - well-known brand name gives to a product in the marketplace






29. 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






30. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel






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






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






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






34. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me






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






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






37. Company website that sells products to customers






38. Grid that organizes numerical information in a standardized - easily understood format






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






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






41. Nonpersonal stimulation of demand for a good - service - place - idea - person - or organization by unpaid placement of significant news regarding the product in a print or broadcast medium






42. 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






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






44. Activities involved in selling merchandise to ultimate consumers






45. Values - beliefs - preferences - and tastes handed down from one generation to the next






46. Offering within a product line such as a specific size of liquid detergent






47. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.






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






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






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