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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. 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
relationship selling
strategic planning
countertrade
leader pricing
2. Previously published information
opinion leaders
computer-based segmentation
reminder advertising
secondary data
3. Exchange value of a good or service
persuasive advertising
transaction based marketing
organization marketing
price
4. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner
direct marketing
buying center
first mover strategy
inside selling
5. Short for web log-- an online journal for an individual or organization
product-related segmentation
exchange rate
blog
sales promotion
6. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights
target-return objective
channel captain
political-legal environment
exploratory research
7. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business
over-the-counter selling
undifferentiated marketing
consumer orientation
bundle pricing
8. Planning that guides the implementation of activities specified in the strategic plan
marketing communications
field selling
tactical planning
broker
9. Percentage of people presented with a banner ad who click on it
customer relationship management (CRM)
click through rate
consultative selling
vendor-managed inventory (VMI)
10. Pricing strategy involving the use of a relatively low entry price compared with competitive offerings - based on the theory that this initial low price will help secure market acceptance
penetration pricing strategy
consumer rights
lifetime value of a customer
consultative selling
11. Process of selecting survey respondents or research participants
sampling
nonprobability sampling
cooperative advertising
value pricing
12. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs
product maximization
publicity
bundle pricing
customer relationship management (CRM)
13. People who purchase new products almost as soon as the products reach the market
The BCG Matrix
undifferentiated marketing
North American Free Trade Agreement (NAFTA)
consumer innovator
14. Division of the total market into smaller - relatively homogenous groups
fair-trade laws
nonprobability sampling
market segmentation
promotional pricing
15. Production - promotion - and reclamation of environmentally sensitive products
green marketing
positioning
place marketing
brand
16. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions
product
brand extension
franchise
mission
17. Messages that deal with buyer-seller relationships
consumer behavior
place marketing
social responsibility
marketing communications
18. Distribution of a product through a limited number of channels
exploratory research
marketing decision support system (MDSS)
product-line pricing
selective distribution
19. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
strategic planning
direct marketing
customary prices
homeshoring
20. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase
e-business
business plan
World Trade Organization (WTO)
cognitive dissonance
21. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior
Robinson-Patman Act
learning
social responsibility
marketing plan
22. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves
micromarketing
utility
World Trade Organization (WTO)
focus group
23. Company website that sells products to customers
partnership
brand insistence
transaction based marketing
electronic storefront
24. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market
market segmentation
strategic alliance
strategic business units (SBU's)
supply chain
25. 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
logistics
learning
wheel of retailing
North American Free Trade Agreement (NAFTA)
26. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings
marketing mix
interactive marketing
mission
competitive pricing strategy
27. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers
Maslow's hierarchy of needs
environmental scanning
product line
wholesaler
28. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market
reminder advertising
foreign licensing
interactive marketing
marketing mix
29. Moving jobs to vendors in countries close to the businesses home country
nearshoring
exporting
business plan
marketing plan
30. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
leader pricing
consumer orientation
learning
European Union (EU)
31. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
motive
selective distribution
Robinson-Patman Act
cognitive dissonance
32. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision
team selling
order processing
demographic segmentation
organization marketing
33. Segmenting a business-to-business market based on how industrial purchasers will use the product
end-use application segmentation
leader pricing
attitudes
comparitive advertising
34. Movement of goods and services from producers to customers
unfair-trade laws
European Union (EU)
distribution
scrambled merchandising
35. Sales presentations made at prospective customer's' locations on a face-to- face basis
strategic planning
nonprobability sampling
field selling
informative advertising
36. Distribution of a product through all available channels
intensive distribution
cobranding
political-legal environment
social responsibility
37. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities
cobranding
marketing concept
affinity marketing
demographic segmentation
38. Measure of responsiveness of purchasers and suppliers to a change in price
nonprobability sampling
elasticity
event marketing
wheel of retailing
39. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers
evaluative criteria
promotional mix
database marketing
cobranding
40. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility
comparitive advertising
economic environment
electronic storefront
supply chain
41. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together
loss leader
social responsibility
strategic window
World Trade Organization (WTO)
42. Intangible products that firms buy to facilitate their production and operating processes
outsourcing
place marketing
business services
brand name
43. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective
social responsibility
product life cycle
sponsorship
field selling
44. Amount that a retailer adds to the cost of a product to determine its selling price
countertrade
advertising
markup
competitive pricing strategy
45. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel
unfair-trade laws
pulling strategy
competitive environment
markup
46. Marketing efforts designed to cultivate the attention - interest - and preferences of a target market toward a person (perhaps political candidate or celebrity)
person marketing
pulling strategy
competitive environment
e-business
47. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
place marketing
Profit Impact of Market Strategies (PIMS) project
differentiated marketing
franchise
48. Meaning that a person attributes to incoming stimuli gathered through the 5 senses
bottom line
consumer behavior
marketing web site
perception
49. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again
Robinson-Patman Act
adoption process
customary prices
supply chain
50. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings
exclusive distribution
marketing myopia
fair-trade laws
value pricing