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






2. Identification and marketing of a social issue - cause - or idea to selected target markets






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






4. 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






5. 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






6. Movement of goods and services from producers to customers






7. Firm's communications and relationships with its various publics






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






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






10. Intangible products that firms buy to facilitate their production and operating processes






11. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe






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






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






14. 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






15. 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






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






17. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)






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






19. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways






20. Activities involved in selling merchandise to ultimate consumers






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






22. Brand name owned by a manufacturer or other producer

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






24. 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






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






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






27. Component of the marketing environment consisting of the relationship between the marketer - society - and culture






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






29. Tax levied against imported goods






30. Imbalance between a consumer's actual and desired states






31. 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






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






33. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise






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






35. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization






36. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment






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






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. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action






40. 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.






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






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






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






44. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer






45. Combination of physical chacterisitics and amenities that contribute to a store's image






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






47. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product






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






49. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights






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