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Test your basic knowledge |
CLEP Marketing
Start Test
Study First
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. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
Eight Universal Marketing functions
North American Industry Classification System - NAICS
market price
exchange rate
2. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.
economic environment
marketing communications
promotion
order processing
3. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
direct marketing
secondary data
pushing strategy
Porter's Five Forces
4. Development - growth - and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit.
strategic window
direct marketing
relationship marketing
sales promotion
5. Previously published information
e-marketing
retailing
secondary data
adoption process
6. Series of different but related ads that use a single theme and appear in different media within a specified time period
advertising campaign
probability sample
markup
marketing web site
7. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same
yield management
brand insistence
General Agreement on Tariffs and Trade (GATT)
blog
8. Marketing domestically produced goods and services in foreign countries
consumer orientation
outsourcing
exporting
yield management
9. Grid that organizes numerical information in a standardized - easily understood format
intergrated marketing communications
broker
spreadsheet analysis
micromarketing
10. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels
pushing strategy
interactive marketing
The BCG Matrix
product-line pricing
11. 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
12. Division of the total market into smaller - relatively homogenous groups
culture
affinity marketing
market segmentation
persuasive advertising
13. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship
importing
homeshoring
relationship selling
brand name
14. 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
foreign licensing
category management
positioning
selective distribution
15. Number of alternatives that a consumer actually considers in making a purchase decision
evoked set
franchise
wholesing intermediary
need
16. 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
marketing ethics
leader pricing
cognitive dissonance
goods
17. Measure of responsiveness of purchasers and suppliers to a change in price
World Trade Organization (WTO)
frequency marketing
elasticity
social responsibility
18. Established price normally quoted to potential buyers
social responsibility
target-return objective
list price
consumer product (B2C)
19. People who purchase new products almost as soon as the products reach the market
General Agreement on Tariffs and Trade (GATT)
utility
consumer innovator
product maximization
20. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business
supply chain
over-the-counter selling
differentiated marketing
supply-chain management
21. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe
The BCG Matrix
leader pricing
cooperative advertising
consumer rights
22. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs
creative selling
evoked set
direct marketing
foreign licensing
23. Division of an overall market into homogenous groups based on thier location
geographic segmentation
bottom line
competitive pricing strategy
end-use application segmentation
24. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again
adoption process
brand preference
demographic segmentation
utility
25. Process by which new goods or services are accepted in the marketplace
team selling
Porter's Five Forces
intergrated marketing communications
diffusion process
26. Affiliation of 2 or more companies that help each other achieve common goals
publicity
partnership
culture
adoption process
27. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product
marketing research
business to business product
Eight Universal Marketing functions
e-marketing
28. Specified deduction from a list price - including a trade-in or promotional allowance
marketing
direct marketing
countertrade
allowance
29. Division of a population into homogenous groups based on thier relationships to the product
Eight Universal Marketing functions
product-related segmentation
modified breakeven analysis
family brand
30. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort
b2b marketing
event marketing
convenience products
supply chain
31. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs
publicity
customary prices
brand preference
product maximization
32. State laws requiring sellers to maintain minimum prices for comparable merchandise
offshoring
unfair-trade laws
order processing
bottom line
33. Sample that involves personal judgement somehwere in the selection process
bundle pricing
sampling
nonprobability sampling
World Trade Organization (WTO)
34. Sales presentations made at prospective customer's' locations on a face-to- face basis
learning
field selling
corporate website
electronic data interchange (EDI)
35. Nonpersonal selling of a particular good or service
brand equity
product advertising
convenience products
spreadsheet analysis
36. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments
yield management
transaction based marketing
North American Industry Classification System - NAICS
probability sample
37. Strategy of attaching a popular brand name to a new product in an unrelated product category
focus group
evoked set
spam
brand extension
38. 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.
competitive environment
shopping products
business plan
intermodal operations
39. Offering two or more complementary products and selling them for a single price
bundle pricing
technological environment
direct marketing
Maslow's hierarchy of needs
40. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products
guerrilla marketing
pushing strategy
electronic data interchange (EDI)
missionary selling
41. Product destined for use by ultimate consumers
consumer product (B2C)
customary prices
market segmentation
tariff
42. 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
intermodal operations
product line
sampling
brand extension
43. 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
competitive environment
lifetime value of a customer
order processing
cognitive dissonance
44. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.
transaction based marketing
person marketing
geographic segmentation
target-return objective
45. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's
SWOT analysis
markdown
brand
demarketing
46. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
corporate website
Robinson-Patman Act
differentiated marketing
computer-based segmentation
47. Exchange value of a good or service
direct marketing
price
franchise
cross-promotion
48. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance
utility
Profit Impact of Market Strategies (PIMS) project
direct marketing
total quality management
49. Brand name owned by a manufacturer or other producer
50. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats
personal selling
foreign licensing
SWOT analysis
physical distribution