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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.
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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. Division of an overall market into homogenous groups based on variables such as gender - age - income - occupation - education - sexual orientation - household size - and stage in the family life cycle; also called socioeconomic segmentation
yield management
business products
stock-keeping unit
demographic segmentation
2. Grid that organizes numerical information in a standardized - easily understood format
conversion rate
sales promotion
market price
spreadsheet analysis
3. Movement of high-wage jobs from one country to lower-cost overseas locations
strategic window
sales forecast
offshoring
strategic alliance
4. Activity in which 2 or more parties give something of value to each other to satisy perceived needs
marketing concept
marketing (distribution) channel
sampling
exchange process
5. Number of alternatives that a consumer actually considers in making a purchase decision
cause marketing
evoked set
marketing concept
global sourcing
6. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
comarketing
vendor-managed inventory (VMI)
focus group
General Agreement on Tariffs and Trade (GATT)
7. Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship
wholesing intermediary
relationship selling
advertising agency
marketing communications
8. Marketers' standards of conduct and moral values
marketing ethics
demographic segmentation
cross-promotion
interactive marketing
9. Percentage of people presented with a banner ad who click on it
relationship marketing
business products
e-marketing
click through rate
10. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
tariff
direct marketing
Robinson-Patman Act
The BCG Matrix
11. 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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12. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights
pushing strategy
social-cultural environment
marketing mix
political-legal environment
13. 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
primary data
product-line pricing
competitive pricing strategy
14. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)
organization marketing
North American Free Trade Agreement (NAFTA)
cross-promotion
culture
15. Development - growth - and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit.
product maximization
customary prices
relationship marketing
vendor-managed inventory (VMI)
16. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer
personal selling
consumer orientation
interpretative research
unfair-trade laws
17. 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
b2c e-marketing (business to consumer)
bundle pricing
opinion leaders
interpretative research
18. Participants in an organizational buying action A
institutional advertising
tactical planning
buying center
physical distribution
19. Analysis that help planners compare internal organizational strengths and weaknesses with external oppertunities and threats
SWOT analysis
yield management
consumer rights
market segmentation
20. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products
brand extension
missionary selling
exchange rate
order processing
21. Progression of a product through introduction - growth - maturity - and decline stages
product life cycle
click through rate
retailing
consumer behavior
22. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands
penetration pricing strategy
manufacturers' representative
comparitive advertising
European Union (EU)
23. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user
supply chain
marketing (distribution) channel
retailing
buying center
24. Accord removing trade barriers between Canada - Mexico - and the US
North American Free Trade Agreement (NAFTA)
over-the-counter selling
marketing web site
evaluative criteria
25. Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.
advertising
transaction based marketing
tariff
brand equity
26. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause
informative advertising
importing
European Union (EU)
end-use application segmentation
27. Combination of strategies and tools that drives relationship programs - reorienting the entire organization to a concentrated focus on satisfying customers.
pulling strategy
customer relationship management (CRM)
consumer rights
micromarketing
28. Moving jobs to vendors in countries close to the businesses home country
broker
cooperative advertising
nearshoring
marketing (distribution) channel
29. Process of collecting information about the external environment to identify and interpret potential trends
environmental scanning
spreadsheet analysis
persuasive advertising
yield management
30. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions
strategic window
mission
cobranding
logistics
31. Products characterized by plain labels - no advertising - and the absence of brand names
consumer product (B2C)
direct marketing
generic products
b2b e-marketing (business to business)
32. Dividing a business-to-business market into homogeneous groups based on buyers' product specifications
price
countertrade
computer-based segmentation
supply chain
33. Person's multifaceted picture of himself or herself
self concept
brand extension
shopping products
conversion rate
34. Tangible products that customers can see - hear - smell - taste - or touch
goods
business plan
marketing communications
North American Free Trade Agreement (NAFTA)
35. Brand for which the owner claims exclusive legal protection
trademark
mission
promotion
guerrilla marketing
36. Computer-to-computer exchanges of invoices - orders - and other business documents
electronic data interchange (EDI)
promotional pricing
consumer orientation
environmental scanning
37. Use of the internet for business transactions between organizations
b2b e-marketing (business to business)
primary data
franchise
cooperative advertising
38. Component of the marketing environment consisting of the relationship between the marketer - society - and culture
markdown
social-cultural environment
wheel of retailing
SWOT analysis
39. Hiring workers to do jobs from their homes
personal selling
strategic business units (SBU's)
marketing
homeshoring
40. 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
culture
reminder advertising
foreign licensing
technological environment
41. Sample that gives every member of the population a chance of being selected
probability sample
cannibalization
offshoring
reseller
42. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
intensive distribution
direct marketing
search marketing
tactical planning
43. Process of selecting survey respondents or research participants
sampling
cognitive dissonance
economic environment
value pricing
44. Dominant and controlling member of a marketing channel
intergrated marketing communications
market price
first mover strategy
channel captain
45. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment
competitive pricing strategy
Profit Impact of Market Strategies (PIMS) project
SWOT analysis
database marketing
46. Want-satisfying power of a good or service
loss leader
environmental scanning
utility
exchange rate
47. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings
manufacturers' representative
value pricing
planning
culture
48. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers
e-business
perception
geographic segmentation
franchise
49. International trade accord that has helped reduce world tariffs
consumer orientation
General Agreement on Tariffs and Trade (GATT)
countertrade
consumer rights
50. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility
economic environment
informative advertising
goods
reference groups
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