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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. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs
field selling
advertising
product maximization
trademark
2. Application to marketing of knowledge based on discoveries in science - inventions - and innovations
marketing (distribution) channel
search marketing
missionary selling
technological environment
3. Percentage of people presented with a banner ad who click on it
click through rate
e-marketing
political-legal environment
leader pricing
4. Agent wholesaling intermediary that does not take title to or possesion of goods in the course of its primary function - which is to bring together buyers and sellers
micromarketing
e-business
broker
import quotas
5. Comprehensive term that describes wholesalers as well as agents and brokers
wholesing intermediary
differentiated marketing
pulling strategy
persuasive advertising
6. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale
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7. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel
environmental management
foreign licensing
undifferentiated marketing
pulling strategy
8. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.
undifferentiated marketing
cognitive dissonance
event marketing
customer relationship management (CRM)
9. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs
Eight Universal Marketing functions
product line
sales promotion
cross-promotion
10. International trade accord that has helped reduce world tariffs
General Agreement on Tariffs and Trade (GATT)
promotional mix
intermodal operations
cross-promotion
11. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace
green marketing
category management
second mover strategy
modified breakeven analysis
12. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
b2b marketing
differentiated marketing
direct marketing
psychographic segmentation
13. Selling by phone - mail - and electronic commerce
blog
market price
radio frequency identification (RFID)
inside selling
14. Consumer reliance on previous experiences with a product to choose that product again
brand preference
broker
business plan
missionary selling
15. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment
wholesaler
Profit Impact of Market Strategies (PIMS) project
tactical planning
attitudes
16. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
transaction based marketing
brand recognition
vendor-managed inventory (VMI)
exchange rate
17. Process of collecting information about the external environment to identify and interpret potential trends
environmental scanning
attitudes
publicity
business products
18. Detailed description of the resources and actions needed to achieve stated marketing objectives
interactive marketing
brand
person marketing
marketing plan
19. Imbalance between a consumer's actual and desired states
trademark
brand name
need
selective distribution
20. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats
distribution
allowance
SWOT analysis
logistics
21. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
relationship marketing
consumer orientation
outsourcing
reminder advertising
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
cause marketing
cannibalization
product-line pricing
database marketing
23. 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.
sampling
business plan
World Trade Organization (WTO)
technological environment
24. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance
markup
total quality management
affinity marketing
nonprobability sampling
25. Computer-to-computer exchanges of invoices - orders - and other business documents
modified breakeven analysis
blog
electronic data interchange (EDI)
strategic business units (SBU's)
26. Firm's communications and relationships with its various publics
marketing concept
public relations
evoked set
elasticity
27. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
Eight Universal Marketing functions
Robinson-Patman Act
organization marketing
markdown
28. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
marketing research
customary prices
differentiated marketing
advertising
29. Consumer awareness and identification of a brand
marketing communications
frequency marketing
brand recognition
The BCG Matrix
30. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight
e-marketing
shopping products
comarketing
outsourcing
31. Promotion that attempts to increase demand for an existing good - service - organization - person - place - idea - or cause.
marketing concept
convenience products
corporate website
persuasive advertising
32. Process by which new goods or services are accepted in the marketplace
secondary data
diffusion process
green marketing
organization marketing
33. Intangible products that firms buy to facilitate their production and operating processes
evoked set
retailing
tariff
business services
34. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources
channel captain
exploratory research
psychological pricing
team selling
35. Percentage of visitors to a website who make a purchase
conversion rate
first mover strategy
lifetime value of a customer
family brand
36. Series of related products offered by one company
selective distribution
conversion rate
advertising
product line
37. Site designed to increase a firm's visibility - promote its offerings - and provide information to interested parties
perception
spam
customary prices
corporate website
38. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products
fair-trade laws
blog
opinion leaders
place marketing
39. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation
product maximization
atmospherics
demographic segmentation
lifetime value of a customer
40. 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
reseller
The BCG Matrix
intensive distribution
Profit Impact of Market Strategies (PIMS) project
41. Promotional effort by the seller directed to members of the marketing channel rather than final users
Profit Impact of Market Strategies (PIMS) project
pushing strategy
trademark
cooperative advertising
42. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.
b2b marketing
buying center
promotion
relationship marketing
43. Marketing intermediaries that operate in the trade sector
secondary data
self concept
reseller
comarketing
44. Individuals and firms that acquire products to support - directly or indirectly - production of other goods and services-- HP buys chips from Intel - Sara Lee buys wheat to mill into flour for an ingredient in its breads - lightbulbs for a factory--l
wholesing intermediary
trademark
commercial market
order processing
45. Marketers' standards of conduct and moral values
penetration pricing strategy
probability sample
positioning
marketing ethics
46. Products that consumers purchase after comparing competing offerings
secondary data
environmental management
shopping products
unfair-trade laws
47. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives
wholesaler
markup
planning
brand insistence
48. Sample that involves personal judgement somehwere in the selection process
exclusive distribution
psychographic segmentation
vendor-managed inventory (VMI)
nonprobability sampling
49. Estimate of a firm's revenue for a specified future period
electronic data interchange (EDI)
pushing strategy
sales forecast
e-marketing
50. Form of exporting whereby goods and services are bartered rather than sold for cash
self concept
personal selling
countertrade
marketing mix