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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. Segmenting a business-to-business market based on how industrial purchasers will use the product
exploratory research
end-use application segmentation
retailing
loss leader
2. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives
foreign licensing
pulling strategy
strategic planning
retail convergence
3. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase
relationship marketing
perception
first mover strategy
cognitive dissonance
4. Promotional effort by the seller to stimulate final-user demand - which then exerts pressure on the distribution channel
manufacturer's brand
pulling strategy
brand recognition
e-marketing
5. Nonpersonal selling of a particular good or service
category management
product advertising
end-use application segmentation
loss leader
6. Grid that organizes numerical information in a standardized - easily understood format
channel captain
North American Free Trade Agreement (NAFTA)
spreadsheet analysis
cognitive dissonance
7. 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.
spam
yield management
business plan
competitive pricing strategy
8. Products characterized by plain labels - no advertising - and the absence of brand names
generic products
tariff
commercial market
consultative selling
9. Distribution of a product through a single wholesaler or retailer in a specific geographic region
exclusive distribution
reference groups
b2b marketing
informative advertising
10. Single brand name that identifies several related products
family brand
brand equity
penetration pricing strategy
markup
11. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives
focus group
brand equity
evaluative criteria
strategic plan
12. Consumer awareness and identification of a brand
allowance
brand recognition
unfair-trade laws
promotion
13. Process of collecting information about the external environment to identify and interpret potential trends
environmental scanning
retailing
e-business
persuasive advertising
14. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort
convenience products
trademark
Robinson-Patman Act
place marketing
15. Product destined for use by ultimate consumers
b2b e-marketing (business to business)
consumer product (B2C)
demographic segmentation
strategic window
16. 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
bottom line
reminder advertising
modified breakeven analysis
17. Affiliation of 2 or more companies that help each other achieve common goals
partnership
brand preference
broker
environmental management
18. Theory that advocates observing closely the innovations of first movers and then improving on them to gain advantage in the marketplace
second mover strategy
bundle pricing
brand name
event marketing
19. Consumer refusal of alternatives and extensive search for desired merchandise
intensive distribution
customary prices
brand insistence
advertising agency
20. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers
inside selling
place marketing
business services
promotional mix
21. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments
North American Industry Classification System - NAICS
learning
utility
cobranding
22. Social force within the environment that aids and protects the consumer by exerting legal - moral - and economic pressures on business and government
atmospherics
electronic storefront
exclusive distribution
consumerism
23. Firm whose marketing specialists help advertisers plan and prepare advertisements
brand name
reminder advertising
World Trade Organization (WTO)
advertising agency
24. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action
trade industries
comparitive advertising
interpretative research
AIDA concept
25. Offering two or more complementary products and selling them for a single price
computer-based segmentation
yield management
bundle pricing
broker
26. Component of the marketing environment consisting of the relationship between the marketer - society - and culture
promotion
global sourcing
social-cultural environment
click through rate
27. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
consumer orientation
b2b marketing
interpretative research
yield management
28. 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
markup
mission
marketing communications
29. Marketing intermediaries that operate in the trade sector
reseller
broker
focus group
tactical planning
30. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers
supply chain
bundle pricing
e-business
sponsorship
31. 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)
blog
consumerism
marketing research
32. Comprehensive term that describes wholesalers as well as agents and brokers
outsourcing
wholesing intermediary
generic products
b2c e-marketing (business to consumer)
33. Application to marketing of knowledge based on discoveries in science - inventions - and innovations
technological environment
direct marketing
global sourcing
strategic planning
34. Tax levied against imported goods
wholesaler
North American Free Trade Agreement (NAFTA)
selective distribution
tariff
35. Sales presentations made at prospective customer's' locations on a face-to- face basis
target-return objective
field selling
e-business
intermodal operations
36. 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
mission
economic environment
publicity
exclusive distribution
37. 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
exchange process
penetration pricing strategy
brand equity
consumerism
38. Amount that a retailer adds to the cost of a product to determine its selling price
bundle pricing
markup
broker
primary data
39. Attainment of organizational objectives by predicting and influencing the competitive - political-legal - economic - technological - and social-cultural environments
AIDA concept
micromarketing
environmental management
public relations
40. 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 behavior
countertrade
consumer rights
cannibalization
41. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
yield management
Robinson-Patman Act
commercial market
technological environment
42. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products
trade industries
relationship selling
missionary selling
Profit Impact of Market Strategies (PIMS) project
43. Price of one nation's currency in terms of another country's currency
promotion
exchange rate
nonprobability sampling
business products
44. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together
strategic window
brand extension
planned shopping center
creative selling
45. Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment
countertrade
Profit Impact of Market Strategies (PIMS) project
social responsibility
guerrilla marketing
46. Marketing philosophies - policies - procedures - and actions that have the enhancement of society's welfare as a primary objective
services
social responsibility
second mover strategy
micromarketing
47. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
brand name
persuasive advertising
direct marketing
target-return objective
48. 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
pushing strategy
utility
lifetime value of a customer
spam
49. Exchange value of a good or service
database marketing
intermodal operations
price
order processing
50. 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
The BCG Matrix
interpretative research
intermodal operations
Eight Universal Marketing functions