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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. 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.
business plan
markup
radio frequency identification (RFID)
self concept
2. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale
mission
corporate website
consultative selling
retail convergence
3. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price
market price
informative advertising
franchise
homeshoring
4. Frequent-buyer or user marketing programs that reward customers with cash - rebates - merchandise - or other premiums.
frequency marketing
demographic segmentation
over-the-counter selling
business plan
5. Placing a product at a certain point or location within a marketin the minds of prospective buyers
adoption process
services
positioning
skimming pricing strategies
6. Estimate of a firm's revenue for a specified future period
sales forecast
markup
exporting
market price
7. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public
reminder advertising
relationship selling
business services
strategic window
8. Person's enduring favorable or unfavorable evaluations - emotions - or action tendencies toward some object or idea
supply chain
primary data
list price
attitudes
9. Product destined for use by ultimate consumers
global sourcing
micromarketing
database marketing
consumer product (B2C)
10. Blending of the 4 strategy elements- product - distribution - promotion - and pricing- to fit the needs and preferences of a specific target market
marketing mix
commercial market
outsourcing
pulling strategy
11. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale
yield management
differentiated marketing
tariff
business products
12. 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
economic environment
marketing (distribution) channel
brand insistence
team selling
13. Affiliation of 2 or more companies that help each other achieve common goals
Eight Universal Marketing functions
interactive marketing
brand extension
partnership
14. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings
elasticity
brand insistence
lifetime value of a customer
value pricing
15. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information
atmospherics
phishing
secondary data
pushing strategy
16. Selling directly to consumers over the internet
Maslow's hierarchy of needs
social-cultural environment
b2c e-marketing (business to consumer)
adoption process
17. 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
retailing
adoption process
The BCG Matrix
b2b e-marketing (business to business)
18. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers
tactical planning
evaluative criteria
sponsorship
e-business
19. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing
end-use application segmentation
undifferentiated marketing
scrambled merchandising
vertical marketing system (VMS)
20. Complete sequence of suppliers and activities that contribute to the creation and delivery of merchandise
mission
supply chain
learning
countertrade
21. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands
channel captain
broker
comparitive advertising
marketing decision support system (MDSS)
22. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer
promotional mix
franchise
personal selling
psychological pricing
23. Selling by phone - mail - and electronic commerce
secondary data
frequency marketing
offshoring
inside selling
24. Product offered to consumers at less than cost to attract them to stores in the hope that they will buy other merchandise at regular prices
marketing concept
loss leader
value pricing
team selling
25. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives
planning
exchange rate
physical distribution
Robinson-Patman Act
26. Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their products
evaluative criteria
fair-trade laws
product maximization
consumer behavior
27. 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
foreign licensing
transaction based marketing
advertising agency
consumer behavior
28. Interactive process that occurs in the marketplace among marketers of directly competitive products - marketers of products that can be substituted for one another - and marketers competing for the consumer's purchasing power
The BCG Matrix
sales forecast
competitive environment
business plan
29. Organization that replaces GATT agreements - making binding decisions in mediating disputes (GATT were not binding agreements) - and reducing trade barriers-- 151members - must undergo extreme negotiations to enter WTO - China is one of the newest me
primary data
World Trade Organization (WTO)
personal selling
breakeven analysis
30. Component of the marketing environment consisting of the relationship between the marketer - society - and culture
social-cultural environment
marketing mix
intensive distribution
business to business product
31. Previously published information
secondary data
frequency marketing
demographic segmentation
marketing mix
32. Sample that gives every member of the population a chance of being selected
homeshoring
probability sample
corporate website
brand preference
33. Amount by which a retailer reduces the original selling price of a product
adoption process
markdown
price
General Agreement on Tariffs and Trade (GATT)
34. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments
marketing mix
category management
creative selling
environmental management
35. Pricing strategy designed to deemphasize price as a competitive variable by pricing a good or service at the general level of comparable offerings
evoked set
competitive pricing strategy
penetration pricing strategy
mission
36. Promotional effort by the seller directed to members of the marketing channel rather than final users
informative advertising
secondary data
b2b marketing
pushing strategy
37. Group of retail stores planned - coordinated - and marketed as a unit
business products
planned shopping center
customer relationship management (CRM)
Robinson-Patman Act
38. Simultaneous personal interview of a small group of individuals - which relies on group discussion about a certain topic
focus group
exploratory research
consumer behavior
marketing myopia
39. 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
lifetime value of a customer
competitive environment
consumer orientation
countertrade
40. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
vendor-managed inventory (VMI)
product maximization
consumerism
differentiated marketing
41. Added value that a respected - well-known brand name gives to a product in the marketplace
sponsorship
shopping products
brand equity
adoption process
42. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights
wheel of retailing
search marketing
political-legal environment
diffusion process
43. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.
positioning
trade industries
target-return objective
attitudes
44. Promotional technique in which marketing partners share the cost of a promotional campaign that meets their mutual needs
relationship selling
marketing plan
North American Free Trade Agreement (NAFTA)
cross-promotion
45. Pricing strategy involving the use of a high price relative to competitive offerings
psychographic segmentation
skimming pricing strategies
target-return objective
publicity
46. Strategic process of creating - distributing - promoting - and pricing goods and services to a target market over the internet or through digital tools-- downloading itunes music - booking a flight
inside selling
search marketing
e-marketing
learning
47. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers
markup
unfair-trade laws
supply-chain management
yield management
48. Consumer awareness and identification of a brand
total quality management
supply chain
brand recognition
search marketing
49. Retailing practice of combining dissimilar product lines to boost sales volume
corporate website
scrambled merchandising
family brand
manufacturer's brand
50. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user
marketing (distribution) channel
allowance
market price
nonprobability sampling