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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. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea
exporting
direct marketing
cooperative advertising
attitudes
2. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency
stock-keeping unit
institutional advertising
social-cultural environment
interpretative research
3. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.
channel captain
demarketing
customer relationship management (CRM)
wholesing intermediary
4. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product
elasticity
business to business product
import quotas
trade industries
5. 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
unfair-trade laws
foreign licensing
consumer products
advertising campaign
6. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities
informative advertising
yield management
affinity marketing
psychological pricing
7. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings
lifetime value of a customer
creative selling
competitive pricing strategy
over-the-counter selling
8. Form of exporting whereby goods and services are bartered rather than sold for cash
inside selling
countertrade
attitudes
demarketing
9. Exchange value of a good or service
frequency marketing
price
cobranding
field selling
10. Marketing intermediaries that operate in the trade sector
reseller
consumer behavior
services
brand
11. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective
consultative selling
social responsibility
demarketing
exchange rate
12. Amount by which a retailer reduces the original selling price of a product
shopping products
differentiated marketing
markdown
creative selling
13. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept
comarketing
trade industries
franchise
lifetime value of a customer
14. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product
channel captain
commercial market
cobranding
field selling
15. Amount that a retailer adds to the cost of a product to determine its selling price
SWOT analysis
markup
inside selling
mission
16. Physiological - safety - social/belongingness - esteem needs - self-actualization
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17. Percentage of visitors to a website who make a purchase
manufacturer's brand
business services
commercial market
conversion rate
18. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs
sampling
first mover strategy
marketing mix
cross-promotion
19. 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
marketing ethics
marketing plan
manufacturer's brand
modified breakeven analysis
20. Marketing information system component that links a decision marketer with relevant databases and analysis tools
global sourcing
marketing decision support system (MDSS)
evoked set
conversion rate
21. Group of retail stores planned - coordinated - and marketed as a unit
planned shopping center
direct marketing
World Trade Organization (WTO)
sampling
22. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me
planned shopping center
World Trade Organization (WTO)
business services
The BCG Matrix
23. Sequence of suppliers that contribute to the creation and delivery of a good or service
adoption process
supply chain
reference groups
brand recognition
24. Process of collecting and using information for marketing decision making
evaluative criteria
foreign licensing
promotional pricing
marketing research
25. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
cause marketing
consumer orientation
social responsibility
micromarketing
26. Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling to achieve promotional objectives
scrambled merchandising
psychological pricing
promotional mix
consumer product (B2C)
27. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship
corporate website
relationship selling
affinity marketing
team selling
28. Company wide consumer orientation with the objective of achieving long-run success--all facets from top to bottom of the organization contribute to satisfying customer needs and wants
vertical marketing system (VMS)
marketing concept
probability sample
b2b marketing
29. Activity in which 2 or more parties give something of value to each other to satisy perceived needs
creative selling
direct marketing
exchange process
allowance
30. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.
manufacturers' representative
social-cultural environment
unfair-trade laws
promotion
31. Distribution of a product through a limited number of channels
computer-based segmentation
blog
selective distribution
marketing communications
32. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs
marketing mix
sampling
product maximization
mission
33. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
consumer behavior
marketing
distribution
b2b e-marketing (business to business)
34. Consumer refusal of alternatives and extensive search for desired merchandise
brand insistence
modified breakeven analysis
marketing decision support system (MDSS)
consumer products
35. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner
positioning
SWOT analysis
total quality management
first mover strategy
36. Traditional prices that customers expect to pay for certain goods and services
customary prices
affinity marketing
European Union (EU)
Profit Impact of Market Strategies (PIMS) project
37. Process through which buyers make purchasing decisions
psychographic segmentation
demographic segmentation
consumer behavior
b2c e-marketing (business to consumer)
38. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel
pulling strategy
focus group
psychological pricing
marketing mix
39. Estimate of a firm's revenue for a specified future period
value pricing
elasticity
sales forecast
customary prices
40. Combination of physical chacterisitics and amenities that contribute to a store's image
team selling
atmospherics
e-business
technological environment
41. Promotional effort by the seller directed to members of the marketing channel rather than final users
pulling strategy
Porter's Five Forces
pushing strategy
persuasive advertising
42. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives
strategic plan
exclusive distribution
North American Industry Classification System - NAICS
personal selling
43. Established price normally quoted to potential buyers
vertical marketing system (VMS)
list price
product-line pricing
product-related segmentation
44. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior
consumer innovator
cross-promotion
learning
sales promotion
45. Accord removing trade barriers between Canada - Mexico - and the US
North American Free Trade Agreement (NAFTA)
marketing mix
product
Eight Universal Marketing functions
46. 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
field selling
marketing plan
exploratory research
intermodal operations
47. Product destined for use by ultimate consumers
physical distribution
frequency marketing
consumer product (B2C)
opinion leaders
48. 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
sponsorship
cross-promotion
breakeven analysis
marketing
49. Sample that gives every member of the population a chance of being selected
persuasive advertising
probability sample
bottom line
consumer innovator
50. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products
spreadsheet analysis
North American Industry Classification System - NAICS
fair-trade laws
electronic storefront