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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. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment
marketing
marketing myopia
target-return objective
markdown
2. Products characterized by plain labels - no advertising - and the absence of brand names
product advertising
generic products
relationship marketing
wheel of retailing
3. Pricing strategy that allows marketers to vary prices based on such factors as demand - even though the cost of providing those goods or services remains the same
yield management
tariff
affinity marketing
undifferentiated marketing
4. 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
commercial market
field selling
consumer rights
motive
5. Combination of physical chacterisitics and amenities that contribute to a store's image
blog
family brand
atmospherics
manufacturer's brand
6. Process by which new goods or services are accepted in the marketplace
selective distribution
The BCG Matrix
diffusion process
services
7. Loss of sales of an existing product due to competition from a new product in the same line
global sourcing
consumer innovator
cannibalization
yield management
8. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.
psychographic segmentation
economic environment
social responsibility
comarketing
9. Tangible products that customers can see - hear - smell - taste - or touch
goods
marketing decision support system (MDSS)
brand insistence
click through rate
10. Cooperative agreement in which two businesses jointly market each other's product
computer-based segmentation
promotion
perception
comarketing
11. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior
learning
spreadsheet analysis
business to business product
scrambled merchandising
12. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives
strategic plan
breakeven analysis
planned shopping center
micromarketing
13. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.
strategic alliance
target-return objective
electronic storefront
frequency marketing
14. Process of collecting and using information for marketing decision making
marketing research
retailing
General Agreement on Tariffs and Trade (GATT)
perception
15. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.
reference groups
promotion
list price
geographic segmentation
16. 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
team selling
bundle pricing
exchange process
17. Process of coordinating the flow of information - goods - and services among members of the distribution channel
loss leader
SWOT analysis
logistics
countertrade
18. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information
phishing
transaction based marketing
positioning
marketing concept
19. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
culture
Robinson-Patman Act
probability sample
SWOT analysis
20. Trade restrictions that limit the number of units of certain goods that can enter a country for resale
import quotas
homeshoring
target-return objective
supply chain
21. 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
exchange process
marketing
interpretative research
nonprobability sampling
22. Purchasing foreign goods and services
target-return objective
competitive pricing strategy
Maslow's hierarchy of needs
importing
23. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
exchange rate
Profit Impact of Market Strategies (PIMS) project
brand equity
consumer orientation
24. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights
channel captain
political-legal environment
diffusion process
loss leader
25. Features that a consumer considers in chosing among alternatives
exporting
target-return objective
evaluative criteria
marketing (distribution) channel
26. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.
breakeven analysis
trade industries
Profit Impact of Market Strategies (PIMS) project
lifetime value of a customer
27. 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
partnership
interactive marketing
marketing mix
demarketing
28. List of legitimate consumer expectations suggested by President Kennedy - the right to chose freely - the right to be informed - the right to be heard - the right to be safe
consumer rights
undifferentiated marketing
target-return objective
lifetime value of a customer
29. 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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30. 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
allowance
institutional advertising
business to business product
marketing concept
31. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea
yield management
selective distribution
list price
attitudes
32. Percentage of visitors to a website who make a purchase
institutional advertising
supply chain
scrambled merchandising
conversion rate
33. Brand name owned by a manufacturer or other producer
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34. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities
organization marketing
bottom line
total quality management
affinity marketing
35. 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
evaluative criteria
modified breakeven analysis
product-line pricing
franchise
36. 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
geographic segmentation
business products
relationship selling
team selling
37. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace
b2b e-marketing (business to business)
second mover strategy
comparitive advertising
marketing concept
38. Product destined for use by ultimate consumers
exclusive distribution
consumer product (B2C)
environmental management
retail convergence
39. Offering two or more complementary products and selling them for a single price
person marketing
bundle pricing
trade industries
advertising campaign
40. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors
stock-keeping unit
brand name
cause marketing
manufacturer's brand
41. Division of the total market into smaller - relatively homogenous groups
social-cultural environment
market segmentation
vendor-managed inventory (VMI)
importing
42. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs
product maximization
tactical planning
commercial market
brand equity
43. Form of exporting whereby goods and services are bartered rather than sold for cash
value pricing
goods
demographic segmentation
countertrade
44. Sequence of suppliers that contribute to the creation and delivery of a good or service
supply chain
markdown
diffusion process
economic environment
45. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user
psychological pricing
planning
marketing (distribution) channel
services
46. 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
goods
primary data
relationship selling
retail convergence
47. Amount by which a retailer reduces the original selling price of a product
exporting
category management
markdown
business to business product
48. Accord removing trade barriers between Canada - Mexico - and the US
personal selling
psychographic segmentation
North American Free Trade Agreement (NAFTA)
customer relationship management (CRM)
49. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line
category management
intergrated marketing communications
promotional mix
buying center
50. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise
supply chain
logistics
generic products
reference groups