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CLEP Marketing
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CLEP Marketing
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25 Questions

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

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

3. Movement of high-wage jobs from one country to lower-cost overseas locations

4. Division of an overall market into homogenous groups based on thier location

5. 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

6. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause

7. Previously published information

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

9. Planning that guides the implementation of activities specified in the strategic plan

10. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)

11. Specified deduction from a list price - including a trade-in or promotional allowance

12. Process of coordinating the flow of information - goods - and services among members of the distribution channel

13. 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

14. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing

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

16. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments

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

18. Distribution of a product through a single wholesaler or retailer in a specific geographic region

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

20. Intangible products that firms buy to facilitate their production and operating processes

21. Features that a consumer considers in chosing among alternatives

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

23. 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

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

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

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