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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.
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. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale
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2. Process through which buyers make purchasing decisions
consumer behavior
channel captain
need
business services
3. Pricing strategy involving the use of a high price relative to competitive offerings
inside selling
environmental scanning
skimming pricing strategies
Profit Impact of Market Strategies (PIMS) project
4. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business
broker
over-the-counter selling
marketing plan
price
5. Selling directly to consumers over the internet
buying center
b2c e-marketing (business to consumer)
General Agreement on Tariffs and Trade (GATT)
generic products
6. Measure of responsiveness of purchasers and suppliers to a change in price
import quotas
spreadsheet analysis
environmental scanning
elasticity
7. People who purchase new products almost as soon as the products reach the market
person marketing
pushing strategy
consumer innovator
b2c e-marketing (business to consumer)
8. Form of exporting whereby goods and services are bartered rather than sold for cash
countertrade
affinity marketing
retail convergence
comparitive advertising
9. Information collected specifically for the investigation at hand
focus group
distribution
primary data
organization marketing
10. Pricing policy in which a lower than normal price is used as a temporary ingredient in a firm's marketing strategy
consumer orientation
relationship selling
environmental management
promotional pricing
11. 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
leader pricing
e-marketing
global sourcing
interpretative research
12. 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
European Union (EU)
strategic business units (SBU's)
loss leader
institutional advertising
13. Selling mostly at the wholesale and retail levels - that involves identifying customer needs - pointing them out to customers - and completing orders
order processing
Porter's Five Forces
pulling strategy
b2b marketing
14. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer
physical distribution
stock-keeping unit
database marketing
demarketing
15. Brand name owned by a manufacturer or other producer
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16. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands
sponsorship
comparitive advertising
outsourcing
brand preference
17. Movement of high-wage jobs from one country to lower-cost overseas locations
offshoring
consumer products
publicity
primary data
18. Consumer refusal of alternatives and extensive search for desired merchandise
probability sample
pushing strategy
brand insistence
markup
19. Marketing of sporting - cultural - and charitable activities to selected target markets
event marketing
marketing (distribution) channel
corporate website
brand extension
20. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together
strategic window
markdown
electronic storefront
transaction based marketing
21. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
consumer orientation
brand name
consumer products
Porter's Five Forces
22. System of marketing institutions that enhances the physical flow of goods and services - along with ownership title - from producer to consumer or business user
brand
social responsibility
AIDA concept
marketing (distribution) channel
23. Popular name for junk email
team selling
strategic window
spam
sampling
24. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
cognitive dissonance
product
Robinson-Patman Act
convenience products
25. Purchasing foreign goods and services
marketing myopia
event marketing
importing
blog
26. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings
tactical planning
value pricing
field selling
customer relationship management (CRM)
27. Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities
differentiated marketing
family brand
commercial market
affinity marketing
28. 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
intermodal operations
The BCG Matrix
North American Industry Classification System - NAICS
environmental scanning
29. Group of retail stores planned - coordinated - and marketed as a unit
consumer behavior
planned shopping center
brand name
stock-keeping unit
30. Want-satisfying power of a good or service
selective distribution
trade industries
breakeven analysis
utility
31. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness
manufacturer's brand
brand
fair-trade laws
sales promotion
32. Percentage of visitors to a website who make a purchase
brand insistence
social-cultural environment
conversion rate
consumer behavior
33. Imbalance between a consumer's actual and desired states
brand
scrambled merchandising
offshoring
need
34. 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
Robinson-Patman Act
intermodal operations
cognitive dissonance
evaluative criteria
35. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior
promotional mix
green marketing
North American Free Trade Agreement (NAFTA)
learning
36. Established price normally quoted to potential buyers
intermodal operations
opinion leaders
list price
selective distribution
37. 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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38. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market
consumer innovator
marketing mix
database marketing
marketing communications
39. Organizational function and a set of processes for creating - communicating - and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
marketing
channel captain
services
psychographic segmentation
40. Interpersonal influence process involving a seller's promotional presentation conducted on a person to person basis with the buyer
business services
exclusive distribution
personal selling
affinity marketing
41. Development - growth - and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit.
relationship marketing
offshoring
first mover strategy
Eight Universal Marketing functions
42. Communication link between buyers and sellers; the function of informing - persuading - and influencing a consumer's purchase decision.
strategic planning
promotion
relationship marketing
modified breakeven analysis
43. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
marketing mix
direct marketing
cognitive dissonance
environmental scanning
44. Products characterized by plain labels - no advertising - and the absence of brand names
generic products
product life cycle
over-the-counter selling
wholesaler
45. Placing a product at a certain point or location within a marketin the minds of prospective buyers
positioning
opinion leaders
import quotas
manufacturer's brand
46. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels
nearshoring
product-line pricing
reseller
direct marketing
47. Detailed description of the resources and actions needed to achieve stated marketing objectives
physical distribution
marketing plan
elasticity
business products
48. Series of different but related ads that use a single theme and appear in different media within a specified time period
event marketing
positioning
services
advertising campaign
49. Buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the internetand virtual reality kiosks
interactive marketing
place marketing
consumerism
frequency marketing
50. Percentage of people presented with a banner ad who click on it
yield management
click through rate
family brand
cognitive dissonance
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