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Test your basic knowledge |
CLEP Marketing
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Study First
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. Product destined for use by ultimate consumers
services
consumer product (B2C)
social responsibility
tactical planning
2. Offering two or more complementary products and selling them for a single price
trade industries
bundle pricing
environmental management
World Trade Organization (WTO)
3. Sample that gives every member of the population a chance of being selected
probability sample
bundle pricing
exchange rate
reference groups
4. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer
advertising
personal selling
market segmentation
offshoring
5. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders
pulling strategy
promotion
social responsibility
order processing
6. Process of collecting and using information for marketing decision making
marketing myopia
exploratory research
marketing research
convenience products
7. 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
publicity
penetration pricing strategy
field selling
cause marketing
8. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price
psychological pricing
market price
yield management
demographic segmentation
9. Computer-to-computer exchanges of invoices - orders - and other business documents
market price
business products
electronic data interchange (EDI)
consumerism
10. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency
business products
institutional advertising
planned shopping center
marketing
11. Group of retail stores planned - coordinated - and marketed as a unit
planned shopping center
loss leader
product maximization
selective distribution
12. Short for web log-- an online journal for an individual or organization
blog
distribution
exchange process
geographic segmentation
13. Coordination of all promotional activities to produce a unified - customer-focused promotional message
marketing mix
intergrated marketing communications
exploratory research
North American Free Trade Agreement (NAFTA)
14. Trendsetters who purchase new products before others in a group and then influence others in thier purchases
Eight Universal Marketing functions
consumerism
opinion leaders
value pricing
15. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
marketing
shopping products
Robinson-Patman Act
evoked set
16. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective
skimming pricing strategies
phishing
social responsibility
self concept
17. Partnerships in which 2 or more companies combine resources and capital to create competitive advantages in a new market
manufacturers' representative
product maximization
strategic alliance
advertising agency
18. Placing a product at a certain point or location within a marketin the minds of prospective buyers
brand recognition
leader pricing
positioning
supply-chain management
19. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.
relationship selling
business plan
sales promotion
psychographic segmentation
20. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market
marketing mix
lifetime value of a customer
cooperative advertising
marketing plan
21. Company website that sells products to customers
countertrade
electronic storefront
business products
advertising agency
22. Consumer refusal of alternatives and extensive search for desired merchandise
persuasive advertising
brand insistence
brand extension
business plan
23. Selling by phone - mail - and electronic commerce
advertising
intensive distribution
inside selling
scrambled merchandising
24. Cooperative agreement in which two businesses jointly market each other's product
public relations
technological environment
culture
comarketing
25. Messages that deal with buyer-seller relationships
trade industries
marketing communications
e-marketing
exploratory research
26. Intangible products that firms buy to facilitate their production and operating processes
public relations
business services
informative advertising
product advertising
27. Brand for which the owner claims exclusive legal protection
affinity marketing
product maximization
trademark
AIDA concept
28. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities
affinity marketing
brand equity
order processing
electronic data interchange (EDI)
29. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer
goods
spreadsheet analysis
lifetime value of a customer
b2c e-marketing (business to consumer)
30. Activities involved in selling merchandise to ultimate consumers
advertising agency
retailing
sampling
value pricing
31. Pricing strategy involving the use of a high price relative to competitive offerings
North American Industry Classification System - NAICS
commercial market
skimming pricing strategies
political-legal environment
32. People who purchase new products almost as soon as the products reach the market
consumer innovator
database marketing
exchange rate
mission
33. Loss of sales of an existing product due to competition from a new product in the same line
cannibalization
electronic data interchange (EDI)
marketing research
wholesaler
34. Production - promotion - and reclamation of environmentally sensitive products
green marketing
physical distribution
brand
demographic segmentation
35. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights
product-line pricing
order processing
political-legal environment
marketing ethics
36. 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
differentiated marketing
person marketing
demographic segmentation
team selling
37. 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
marketing ethics
guerrilla marketing
market price
intermodal operations
38. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments
conversion rate
allowance
environmental management
yield management
39. Process through which buyers make purchasing decisions
elasticity
partnership
consumer behavior
brand extension
40. Application to marketing of knowledge based on discoveries in science - inventions - and innovations
marketing ethics
product line
technological environment
countertrade
41. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.
nonprobability sampling
markup
promotion
social responsibility
42. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product
trade industries
utility
green marketing
cobranding
43. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
countertrade
Eight Universal Marketing functions
sales promotion
partnership
44. Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs
spam
product maximization
electronic data interchange (EDI)
logistics
45. Exchange value of a good or service
manufacturers' representative
price
affinity marketing
end-use application segmentation
46. Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and nonpersonal selling to achieve promotional objectives
promotional mix
partnership
e-business
fair-trade laws
47. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers
trademark
political-legal environment
psychological pricing
North American Free Trade Agreement (NAFTA)
48. Imbalance between a consumer's actual and desired states
need
European Union (EU)
list price
differentiated marketing
49. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
consumer orientation
sampling
strategic window
pulling strategy
50. 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
primary data
relationship marketing
learning
wheel of retailing
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