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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. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information
nonprobability sampling
phishing
price
partnership
2. Process of anticipating future events and conditions and of determining the best way to acheive organizational objectives
evaluative criteria
planning
retail convergence
differentiated marketing
3. State laws requiring sellers to maintain minimum prices for comparable merchandise
foreign licensing
persuasive advertising
lifetime value of a customer
unfair-trade laws
4. Cooperative agreement in which two businesses jointly market each other's product
business plan
offshoring
comarketing
frequency marketing
5. Offering two or more complementary products and selling them for a single price
business plan
product maximization
European Union (EU)
bundle pricing
6. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
need
Robinson-Patman Act
marketing plan
North American Industry Classification System - NAICS
7. People who purchase new products almost as soon as the products reach the market
marketing concept
consumer innovator
adoption process
bottom line
8. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale
e-business
Eight Universal Marketing functions
manufacturer's brand
business products
9. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
trademark
differentiated marketing
countertrade
perception
10. Exchange value of a good or service
attitudes
price
social-cultural environment
loss leader
11. 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
tactical planning
wheel of retailing
advertising agency
marketing plan
12. Bundle of physical - service - and symbolic attributes designed to satisfy a customer's wants and needs
learning
reseller
import quotas
product
13. Site whose main purpose is to increase purchases by visitors
marketing web site
import quotas
strategic business units (SBU's)
guerrilla marketing
14. The most obvious distiniction between not-for-profit organizations and for-profit commercial firms-- business jargon that refers to the overall profitability of an organization
bundle pricing
franchise
bottom line
technological environment
15. Segmenting a business-to-business market based on how industrial purchasers will use the product
end-use application segmentation
transaction based marketing
relationship marketing
brand insistence
16. Contractual agreement in which a wholesaler or retailer (the franchisee) agrees to meet the operating requirements of a manufacturer or other franchiser-- reduces risk by offering a proven concept
culture
value pricing
institutional advertising
franchise
17. Firm whose marketing specialists help advertisers plan and prepare advertisements
supply-chain management
wholesaler
advertising agency
European Union (EU)
18. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers
North American Industry Classification System - NAICS
e-business
environmental scanning
strategic plan
19. Process of reducing consumer demand for a good or service to a level that the firm can supply
lifetime value of a customer
customary prices
channel captain
demarketing
20. Distribution of a product through all available channels
intensive distribution
fair-trade laws
buying center
allowance
21. Using outside vendors to provide goods and services formerly produced in-house
brand name
outsourcing
brand recognition
culture
22. Targeting potential customers at very narrow - basic levels - such as by zip cod - specific occupation - or lifestyle--possibly even individuals themselves
goods
computer-based segmentation
marketing
micromarketing
23. Marketers' standards of conduct and moral values
electronic data interchange (EDI)
marketing ethics
exchange rate
total quality management
24. 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
sponsorship
strategic plan
yield management
lifetime value of a customer
25. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways
mission
guerrilla marketing
relationship marketing
exporting
26. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
Eight Universal Marketing functions
shopping products
value pricing
marketing myopia
27. Promotion of a concept - an idea - a philosophy - or the goodwill of an industry - company - organization - person - geopgraphic location - or gov't agency
interpretative research
computer-based segmentation
marketing ethics
institutional advertising
28. Short for web log-- an online journal for an individual or organization
marketing research
promotional mix
strategic business units (SBU's)
blog
29. Agent wholesaling intermediary that represents manufacterers of related but noncompeting products and receives a commision on each sale
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30. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort
foreign licensing
manufacturer's brand
convenience products
buying center
31. 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
publicity
product line
focus group
wholesing intermediary
32. Grid that organizes numerical information in a standardized - easily understood format
spreadsheet analysis
trade industries
breakeven analysis
business plan
33. Paying search engines - such as google - a fee to make sure that the company's listing appears toward the top of the search results
business services
search marketing
utility
brand insistence
34. Brand name owned by a manufacturer or other producer
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35. Estimate of a firm's revenue for a specified future period
sales forecast
General Agreement on Tariffs and Trade (GATT)
retail convergence
brand preference
36. Movement of high-wage jobs from one country to lower-cost overseas locations
market segmentation
persuasive advertising
commercial market
offshoring
37. Values - beliefs - preferences - and tastes handed down from one generation to the next
offshoring
culture
product advertising
promotion
38. Agent wholesaling intermediary that does not take title to or possesion of goods in the course of its primary function - which is to bring together buyers and sellers
conversion rate
broker
General Agreement on Tariffs and Trade (GATT)
interactive marketing
39. Variant of loss leader pricing in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and earn a minimal return on promotional sales
leader pricing
evoked set
retailing
organization marketing
40. Management's failure to recognize the scope of it's business-- product-oriented rather than consumer-oriented endangers future growth
economic environment
buying center
fair-trade laws
marketing myopia
41. Direct communications - other than personal sales contacts - between buyer and seller - designed to generate sales - information requests - or store or website visits
public relations
consumer orientation
direct marketing
marketing research
42. 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
yield management
b2c e-marketing (business to consumer)
loss leader
consumer product (B2C)
43. 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
probability sample
social responsibility
elasticity
promotional mix
44. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions
guerrilla marketing
political-legal environment
skimming pricing strategies
mission
45. Sample that involves personal judgement somehwere in the selection process
generic products
environmental management
nonprobability sampling
conversion rate
46. Imbalance among knowledge - beliefs - and attitudes that occurs after an action or decision - such as a purchase
manufacturer's brand
markdown
cognitive dissonance
marketing research
47. 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
psychographic segmentation
publicity
team selling
demographic segmentation
48. 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
business to business product
The BCG Matrix
pulling strategy
demographic segmentation
49. Process of collecting and using information for marketing decision making
marketing research
market price
marketing concept
learning
50. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers
exchange rate
primary data
intensive distribution
place marketing
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