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






2. Process of reducing consumer demand for a good or service to a level that the firm can supply






3. 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






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






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






6. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.






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






8. Process of collecting information about the external environment to identify and interpret potential trends






9. 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






10. 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






11. Comprehensive term that describes wholesalers as well as agents and brokers






12. 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






13. Sample that involves personal judgement somehwere in the selection process






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






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






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






17. Using outside vendors to provide goods and services formerly produced in-house






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






19. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.






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






21. 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






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






23. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale






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






25. Company website that sells products to customers






26. 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






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






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






29. Process of collecting and using information for marketing decision making






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






31. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer






32. Messages that deal with buyer-seller relationships






33. Marketers' standards of conduct and moral values






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






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

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






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






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






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






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






41. Site whose main purpose is to increase purchases by visitors






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






43. Use of the internet for business transactions between organizations






44. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer






45. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale

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46. Meaning that a person attributes to incoming stimuli gathered through the 5 senses






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






48. Single brand name that identifies several related products






49. Brand name owned by a manufacturer or other producer

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







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