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. Application to marketing of knowledge based on discoveries in science - inventions - and innovations






2. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices






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






4. Dominant and controlling member of a marketing channel






5. Marketing intermediaries that operate in the trade sector






6. Marketers' standards of conduct and moral values






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






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






9. 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






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






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






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






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






14. Products bought by ultimate consumers for personal use






15. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors






16. 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






17. Detailed description of the resources and actions needed to achieve stated marketing objectives






18. 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






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






20. Distribution of a product through a limited number of channels






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






22. Activities involved in selling merchandise to ultimate consumers






23. Pricing strategy involving the use of a high price relative to competitive offerings






24. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel

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






26. 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






27. Messages that deal with buyer-seller relationships






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






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






30. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers






31. 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






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






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






34. 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






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






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






37. 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






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






39. Exchange value of a good or service






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






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






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






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






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






45. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives






46. Use of the internet for business transactions between organizations






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






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






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






50. Hiring workers to do jobs from their homes