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






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






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






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






5. Trendsetters who purchase new products before others in a group and then influence others in thier purchases






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






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






8. Features that a consumer considers in chosing among alternatives






9. Movement of goods and services from producers to customers






10. Product destined for use by ultimate consumers






11. 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






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






13. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers






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






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






16. Dominant and controlling member of a marketing channel






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






18. Percentage of visitors to a website who make a purchase






19. 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






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






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






22. Nonpersonal selling of a particular good or service






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






24. Form of exporting whereby goods and services are bartered rather than sold for cash






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






26. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities






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






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






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






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






31. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits






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






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






34. 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






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






36. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility






37. 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






38. 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






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






40. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same






41. Consumer reliance on previous experiences with a product to choose that product again






42. Process through which buyers make purchasing decisions






43. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






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






45. Coordination of all promotional activities to produce a unified - customer-focused promotional message






46. Person's multifaceted picture of himself or herself






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






48. Popular name for junk email






49. Hiring workers to do jobs from their homes






50. 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