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






2. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user






3. 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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4. Product destined for use by ultimate consumers






5. 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






6. Previously published information






7. Purchasing goods and services from suppliers worldwide






8. 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






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






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






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






12. Price of one nation's currency in terms of another country's currency






13. Trendsetters who purchase new products before others in a group and then influence others in thier purchases






14. Hiring workers to do jobs from their homes






15. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public






16. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives






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






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






19. 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






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






21. Sample that gives every member of the population a chance of being selected






22. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels






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






24. State laws requiring sellers to maintain minimum prices for comparable merchandise






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






26. Tax levied against imported goods






27. 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






28. Tangible products that customers can see - hear - smell - taste - or touch






29. Placing a product at a certain point or location within a marketin the minds of prospective buyers






30. Established price normally quoted to potential buyers






31. 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






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






33. 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.






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






35. Products that consumers purchase after comparing competing offerings






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






37. 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






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






39. Movement of goods and services from producers to customers






40. Grid that organizes numerical information in a standardized - easily understood format






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






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






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






44. Model developed by strategy expert Michael Porter that identifies 5 competitive forces that influence planning strategies; 1. the threat of new entrants 2. the bargaining power of buyers 3. the bargaining power of suppliers 4. the threat of substitut

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






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






47. 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






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






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






50. Production - promotion - and reclamation of environmentally sensitive products