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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. Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost
team selling
vertical marketing system (VMS)
breakeven analysis
consumer orientation
2. 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
learning
vendor-managed inventory (VMI)
bottom line
3. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.
supply chain
frequency marketing
database marketing
retailing
4. Nonpersonal stimulation of demand for a good - service - place - idea - person - or organization by unpaid placement of significant news regarding the product in a print or broadcast medium
customer relationship management (CRM)
publicity
marketing ethics
modified breakeven analysis
5. Price of one nation's currency in terms of another country's currency
exchange rate
manufacturer's brand
pushing strategy
environmental scanning
6. Marketing information system component that links a decision marketer with relevant databases and analysis tools
marketing
customary prices
marketing decision support system (MDSS)
product
7. Firm's communications and relationships with its various publics
undifferentiated marketing
public relations
probability sample
over-the-counter selling
8. Percentage of visitors to a website who make a purchase
click through rate
reminder advertising
elasticity
conversion rate
9. 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
manufacturer's brand
marketing (distribution) channel
The BCG Matrix
business to business product
10. Products bought by ultimate consumers for personal use
loss leader
exchange rate
consumer products
outsourcing
11. Site whose main purpose is to increase purchases by visitors
field selling
electronic storefront
European Union (EU)
marketing web site
12. Segmenting a business-to-business market based on how industrial purchasers will use the product
homeshoring
end-use application segmentation
place marketing
evaluative criteria
13. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers
e-business
wholesing intermediary
b2b e-marketing (business to business)
product maximization
14. Hypothesis that each new type of retailer gains a competitive foothold by offering lower prices than current suppliers charge; the result of reducing or eliminating services
consumerism
culture
political-legal environment
wheel of retailing
15. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product
spreadsheet analysis
business to business product
diffusion process
pushing strategy
16. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace
tariff
selective distribution
vendor-managed inventory (VMI)
second mover strategy
17. Series of different but related ads that use a single theme and appear in different media within a specified time period
Profit Impact of Market Strategies (PIMS) project
advertising campaign
radio frequency identification (RFID)
modified breakeven analysis
18. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders
order processing
cause marketing
goods
fair-trade laws
19. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers
supply-chain management
environmental scanning
total quality management
self concept
20. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market
markdown
marketing ethics
marketing mix
customary prices
21. Inner state that directs a person toward the goal of satisfying a need
motive
sponsorship
product-related segmentation
environmental scanning
22. 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
database marketing
brand preference
intermodal operations
family brand
23. Brand name owned by a manufacturer or other producer
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24. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's
marketing concept
list price
place marketing
brand
25. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
psychographic segmentation
Eight Universal Marketing functions
social responsibility
homeshoring
26. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth
marketing decision support system (MDSS)
strategic window
marketing myopia
cause marketing
27. 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
product
vendor-managed inventory (VMI)
consumer rights
sales promotion
28. State laws requiring sellers to maintain minimum prices for comparable merchandise
product-line pricing
social responsibility
psychographic segmentation
unfair-trade laws
29. 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
bottom line
affinity marketing
computer-based segmentation
brand equity
30. Identification and marketing of a social issue - cause - or idea to selected target markets
cause marketing
market price
spreadsheet analysis
franchise
31. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives
cognitive dissonance
mission
planning
business to business product
32. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit
product maximization
political-legal environment
relationship marketing
undifferentiated marketing
33. Coordination of all promotional activities to produce a unified - customer-focused promotional message
physical distribution
intergrated marketing communications
unfair-trade laws
marketing
34. Promotional effort by the seller directed to members of the marketing channel rather than final users
leader pricing
marketing myopia
exclusive distribution
pushing strategy
35. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy
promotional pricing
advertising campaign
distribution
publicity
36. Production - promotion - and reclamation of environmentally sensitive products
services
probability sample
green marketing
database marketing
37. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
modified breakeven analysis
competitive environment
supply chain
vendor-managed inventory (VMI)
38. 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
spreadsheet analysis
marketing (distribution) channel
technological environment
39. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
consultative selling
direct marketing
outsourcing
political-legal environment
40. 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
loss leader
franchise
lifetime value of a customer
team selling
41. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business
trademark
target-return objective
over-the-counter selling
culture
42. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea
product maximization
attitudes
value pricing
corporate website
43. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers
cross-promotion
wholesaler
psychographic segmentation
marketing concept
44. Purchasing foreign goods and services
cannibalization
exclusive distribution
frequency marketing
importing
45. 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
guerrilla marketing
franchise
political-legal environment
focus group
46. Consumer refusal of alternatives and extensive search for desired merchandise
brand insistence
focus group
tactical planning
inside selling
47. Selling by phone - mail - and electronic commerce
total quality management
consumer rights
brand name
inside selling
48. Estimate of a firm's revenue for a specified future period
differentiated marketing
sales forecast
marketing ethics
over-the-counter selling
49. 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
click through rate
marketing web site
strategic window
European Union (EU)
50. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products
missionary selling
wholesing intermediary
comparitive advertising
countertrade