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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. Stages that consumers go through in learning about a new product - trying it - and deciding whether to purchase it again
Porter's Five Forces
brand recognition
adoption process
frequency marketing
2. 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
North American Free Trade Agreement (NAFTA)
consumer products
commercial market
marketing myopia
3. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources
cannibalization
family brand
mission
exploratory research
4. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats
corporate website
broker
SWOT analysis
services
5. Consumer awareness and identification of a brand
sponsorship
brand recognition
price
brand equity
6. 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
customary prices
product life cycle
sponsorship
price
7. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products
target-return objective
first mover strategy
modified breakeven analysis
fair-trade laws
8. 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
marketing
nonprobability sampling
European Union (EU)
marketing research
9. People who purchase new products almost as soon as the products reach the market
creative selling
consumer innovator
General Agreement on Tariffs and Trade (GATT)
brand recognition
10. Planning that guides the implementation of activities specified in the strategic plan
tactical planning
scrambled merchandising
strategic business units (SBU's)
yield management
11. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
lifetime value of a customer
Eight Universal Marketing functions
marketing concept
wholesaler
12. Values - beliefs - preferences - and tastes handed down from one generation to the next
exchange rate
psychographic segmentation
supply-chain management
culture
13. Tangible products that customers can see - hear - smell - taste - or touch
advertising
goods
supply chain
nearshoring
14. Division of an overall market into homogenous groups based on thier location
technological environment
North American Free Trade Agreement (NAFTA)
modified breakeven analysis
geographic segmentation
15. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.
business to business product
frequency marketing
marketing (distribution) channel
cognitive dissonance
16. Price of one nation's currency in terms of another country's currency
affinity marketing
exchange rate
product advertising
broker
17. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels
foreign licensing
cross-promotion
product-line pricing
brand insistence
18. Purchasing foreign goods and services
consumer behavior
brand
importing
loss leader
19. Group of retail stores planned - coordinated - and marketed as a unit
Porter's Five Forces
supply chain
markup
planned shopping center
20. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products
inside selling
demographic segmentation
missionary selling
probability sample
21. State laws requiring sellers to maintain minimum prices for comparable merchandise
event marketing
exchange rate
creative selling
unfair-trade laws
22. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user
marketing (distribution) channel
target-return objective
buying center
customer relationship management (CRM)
23. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization
geographic segmentation
evoked set
bottom line
person marketing
24. Process of collecting information about the external environment to identify and interpret potential trends
business to business product
nearshoring
environmental scanning
brand equity
25. Traditional prices that customers expect to pay for certain goods and services
exchange rate
penetration pricing strategy
generic products
customary prices
26. Marketing domestically produced goods and services in foreign countries
event marketing
foreign licensing
comarketing
exporting
27. Offering two or more complementary products and selling them for a single price
personal selling
bundle pricing
global sourcing
franchise
28. Activity in which 2 or more parties give something of value to each other to satisy perceived needs
exchange process
European Union (EU)
environmental management
publicity
29. Product destined for use by ultimate consumers
consumer product (B2C)
missionary selling
differentiated marketing
vendor-managed inventory (VMI)
30. Tax levied against imported goods
tariff
promotion
North American Free Trade Agreement (NAFTA)
secondary data
31. Meaning that a person attributes to incoming stimuli gathered through the 5 senses
publicity
perception
scrambled merchandising
planned shopping center
32. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
nearshoring
Robinson-Patman Act
sales promotion
technological environment
33. Firm whose marketing specialists help advertisers plan and prepare advertisements
leader pricing
reseller
wheel of retailing
advertising agency
34. Customs union that is moving in the direction of an economic union by adopting a common currency - removing trade restrictions - and permitting free flow of goods and workers throughout the member nations-- 27countries--huge common market
business products
supply chain
competitive pricing strategy
European Union (EU)
35. Sample that involves personal judgement somehwere in the selection process
nonprobability sampling
strategic window
sponsorship
micromarketing
36. Process by which new goods or services are accepted in the marketplace
cause marketing
diffusion process
tariff
exchange process
37. Number of alternatives that a consumer actually considers in making a purchase decision
evoked set
direct marketing
lifetime value of a customer
business to business product
38. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment
e-business
creative selling
target-return objective
b2b e-marketing (business to business)
39. Process of collecting and using information for marketing decision making
total quality management
atmospherics
marketing research
lifetime value of a customer
40. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit
wheel of retailing
relationship marketing
self concept
informative advertising
41. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs
family brand
team selling
cross-promotion
advertising campaign
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
price
brand equity
General Agreement on Tariffs and Trade (GATT)
43. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments
demographic segmentation
North American Industry Classification System - NAICS
conversion rate
supply chain
44. Messages that deal with buyer-seller relationships
marketing communications
interactive marketing
search marketing
product advertising
45. Dominant and controlling member of a marketing channel
exchange rate
importing
channel captain
team selling
46. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers
psychological pricing
radio frequency identification (RFID)
marketing plan
vertical marketing system (VMS)
47. Comprehensive term that describes wholesalers as well as agents and brokers
wholesing intermediary
promotion
creative selling
interactive marketing
48. 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
total quality management
promotional mix
advertising
business services
49. 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
inside selling
strategic alliance
stock-keeping unit
50. Measure of responsiveness of purchasers and suppliers to a change in price
elasticity
exporting
sales forecast
family brand