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






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






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






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






5. Marketers' standards of conduct and moral values






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






7. Person's multifaceted picture of himself or herself






8. Activities involved in selling merchandise to ultimate consumers






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






10. Offering two or more complementary products and selling them for a single price






11. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line






12. Purchasing foreign goods and services






13. Promotional effort by the seller directed to members of the marketing channel rather than final users






14. Brand name owned by a manufacturer or other producer

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






16. 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






17. Product destined for use by ultimate consumers






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






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






20. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government






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






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






23. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information






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






25. Activity in which 2 or more parties give something of value to each other to satisy perceived needs






26. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions






27. 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






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






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






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






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






32. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products






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






34. Marketing information system component that links a decision marketer with relevant databases and analysis tools






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






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






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






38. Popular name for junk email






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






40. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales






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






42. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness






43. 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






44. 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.






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






46. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them






47. Consumer awareness and identification of a brand






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






49. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings






50. Percentage of people presented with a banner ad who click on it