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. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience






2. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market






3. 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






4. Dominant and controlling member of a marketing channel






5. Movement of goods and services from producers to customers






6. Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost






7. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves






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






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






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






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






12. Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services






13. Amount by which a retailer reduces the original selling price of a product






14. Products bought by ultimate consumers for personal use






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






16. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy






17. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs






18. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition






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






20. Distribution of a product through all available channels






21. Trade restrictions that limit the number of units of certain goods that can enter a country for resale






22. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.






23. Tax levied against imported goods






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






25. 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






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






27. Affiliation of 2 or more companies that help each other achieve common goals






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






29. Series of different but related ads that use a single theme and appear in different media within a specified time period






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






31. 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






32. International trade accord that has helped reduce world tariffs






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






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






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






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






37. 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






38. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior






39. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective






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






41. Person's multifaceted picture of himself or herself






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






43. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together






44. Marketing intermediaries that operate in the trade sector






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






46. Relationship in which an organization provides funds or in-kind resources to an event or activity in exchange for a direct association with that event or activity






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






48. 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






49. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea






50. Division of the total market into smaller - relatively homogenous groups