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Test your basic knowledge |
CLEP Marketing
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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. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product
interpretative research
loss leader
pushing strategy
business to business product
2. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders
order processing
skimming pricing strategies
direct marketing
social-cultural environment
3. Traditional prices that customers expect to pay for certain goods and services
focus group
customary prices
business to business product
direct marketing
4. Inner state that directs a person toward the goal of satisfying a need
planning
field selling
motive
channel captain
5. 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
strategic window
leader pricing
consumer orientation
scrambled merchandising
6. 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
advertising
psychographic segmentation
importing
strategic alliance
7. Observational research method developed by social anthropologists in which customers are observed in thier natural setting and thier behavior is interpreted based on an understanding of social and cultural characteristics; also known as ethnography o
loss leader
business plan
partnership
interpretative research
8. Affiliation of 2 or more companies that help each other achieve common goals
interpretative research
partnership
learning
AIDA concept
9. Brand for which the owner claims exclusive legal protection
allowance
consumer innovator
creative selling
trademark
10. 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
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11. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line
buying center
informative advertising
category management
Profit Impact of Market Strategies (PIMS) project
12. Application to marketing of knowledge based on discoveries in science - inventions - and innovations
interpretative research
product
mission
technological environment
13. Situation in which a similar merchandise is available from multiple retail outlets - resulting in the blurring of distinctions between type of retailer and merchandise offered
electronic data interchange (EDI)
bundle pricing
market segmentation
retail convergence
14. Firm's communications and relationships with its various publics
electronic data interchange (EDI)
public relations
motive
advertising
15. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs
cross-promotion
cooperative advertising
relationship selling
competitive pricing strategy
16. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.
elasticity
transaction based marketing
buying center
distribution
17. Firm whose marketing specialists help advertisers plan and prepare advertisements
yield management
advertising agency
consumer rights
loss leader
18. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market
culture
click through rate
brand
marketing mix
19. Process of collecting and using information for marketing decision making
North American Industry Classification System - NAICS
consumer innovator
marketing research
creative selling
20. Single brand name that identifies several related products
marketing research
family brand
demographic segmentation
marketing ethics
21. Component of the marketing environment consisting of the relationship between the marketer - society - and culture
bottom line
social-cultural environment
strategic window
scrambled merchandising
22. Exchange value of a good or service
value pricing
price
direct marketing
opinion leaders
23. Price of one nation's currency in terms of another country's currency
atmospherics
exchange rate
elasticity
social-cultural environment
24. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel
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25. International trade accord that has helped reduce world tariffs
field selling
strategic planning
General Agreement on Tariffs and Trade (GATT)
exporting
26. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective
marketing plan
adoption process
product
social responsibility
27. Offering within a product line such as a specific size of liquid detergent
price
planned shopping center
strategic plan
stock-keeping unit
28. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
Robinson-Patman Act
electronic data interchange (EDI)
product-line pricing
exchange rate
29. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior
corporate website
learning
customary prices
broker
30. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency
institutional advertising
consumer orientation
pulling strategy
brand preference
31. 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
learning
creative selling
European Union (EU)
product advertising
32. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings
competitive pricing strategy
value pricing
brand name
Porter's Five Forces
33. Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the internetand virtual reality kiosks
AIDA concept
promotion
corporate website
interactive marketing
34. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
sales forecast
differentiated marketing
consumerism
commercial market
35. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources
pulling strategy
marketing plan
marketing myopia
exploratory research
36. Tax levied against imported goods
generic products
tariff
spam
marketing myopia
37. 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
informative advertising
green marketing
stock-keeping unit
penetration pricing strategy
38. Detailed description of the resources and actions needed to achieve stated marketing objectives
direct marketing
marketing concept
marketing plan
market segmentation
39. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility
vendor-managed inventory (VMI)
economic environment
breakeven analysis
marketing web site
40. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.
utility
homeshoring
psychographic segmentation
elasticity
41. Grid that organizes numerical information in a standardized - easily understood format
breakeven analysis
intensive distribution
planning
spreadsheet analysis
42. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
broker
brand
direct marketing
offshoring
43. Products bought by ultimate consumers for personal use
b2b marketing
The BCG Matrix
organization marketing
consumer products
44. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves
computer-based segmentation
services
micromarketing
public relations
45. 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.
reseller
business plan
product line
corporate website
46. Intangible products that firms buy to facilitate their production and operating processes
business services
wholesaler
market segmentation
unfair-trade laws
47. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
interpretative research
consumer orientation
pulling strategy
trade industries
48. Amount that a retailer adds to the cost of a product to determine its selling price
markup
cannibalization
fair-trade laws
social-cultural environment
49. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment
Profit Impact of Market Strategies (PIMS) project
guerrilla marketing
persuasive advertising
reseller
50. Marketing of sporting - cultural - and charitable activities to selected target markets
import quotas
target-return objective
strategic alliance
event marketing
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