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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. Traditional prices that customers expect to pay for certain goods and services
tariff
customary prices
exploratory research
brand
2. Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings
value pricing
probability sample
cognitive dissonance
elasticity
3. Meaning that a person attributes to incoming stimuli gathered through the 5 senses
brand equity
differentiated marketing
perception
evaluative criteria
4. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance
business products
total quality management
b2b marketing
marketing myopia
5. 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
psychographic segmentation
database marketing
electronic storefront
wheel of retailing
6. 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
North American Free Trade Agreement (NAFTA)
strategic planning
over-the-counter selling
7. Tangible products that customers can see - hear - smell - taste - or touch
consumerism
goods
green marketing
foreign licensing
8. Segmenting a business-to-business market based on how industrial purchasers will use the product
broker
distribution
cannibalization
end-use application segmentation
9. Percentage of people presented with a banner ad who click on it
product maximization
publicity
brand equity
click through rate
10. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
marketing concept
advertising campaign
Eight Universal Marketing functions
buying center
11. Factors that influence consumer buying power and marketing strategies - including stage of the business cycle - inflation and deflation - unemployment - income - and resource availibility
motive
exchange rate
economic environment
wholesaler
12. Identification and marketing of a social issue - cause - or idea to selected target markets
generic products
cause marketing
customer relationship management (CRM)
category management
13. Division of an overall market into homogenous groups based on thier location
foreign licensing
geographic segmentation
order processing
relationship selling
14. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause
supply-chain management
cognitive dissonance
informative advertising
consumer innovator
15. Promotional effort by the seller directed to members of the marketing channel rather than final users
nearshoring
competitive pricing strategy
pushing strategy
franchise
16. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers
World Trade Organization (WTO)
supply-chain management
first mover strategy
e-marketing
17. Marketing by mutual benefit organizations - service organizations - and government organizations intended to influence others to accept their goals - receive thier services - or contribute to them in some way (BSU - political parties - UPS)
competitive environment
marketing (distribution) channel
consumer innovator
organization marketing
18. Price of one nation's currency in terms of another country's currency
social-cultural environment
exchange rate
e-business
nonprobability sampling
19. Distribution of a product through a single wholesaler or retailer in a specific geographic region
mission
business plan
modified breakeven analysis
exclusive distribution
20. 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
supply chain
market price
General Agreement on Tariffs and Trade (GATT)
broker
21. Goods and services purchased for use either directly or indirectly in the production of other goods or services for resale
attitudes
commercial market
business products
consultative selling
22. Brand name owned by a manufacturer or other producer
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23. Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product
computer-based segmentation
nearshoring
business to business product
strategic planning
24. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer
organization marketing
physical distribution
evaluative criteria
wholesaler
25. Movement of goods and services from producers to customers
North American Industry Classification System - NAICS
secondary data
distribution
bottom line
26. Marketing domestically produced goods and services in foreign countries
adoption process
exporting
physical distribution
unfair-trade laws
27. Strategy that focuses on producing a single product and marketing it to all customers - also called mass marketing
broker
undifferentiated marketing
marketing ethics
tactical planning
28. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
sales promotion
vendor-managed inventory (VMI)
planned shopping center
SWOT analysis
29. People who purchase new products almost as soon as the products reach the market
breakeven analysis
Maslow's hierarchy of needs
wholesaler
consumer innovator
30. Exchange value of a good or service
price
diffusion process
primary data
World Trade Organization (WTO)
31. Federal legislation prohibiting price discrimination that is not based on a cost differential; also prohibits selling at an unreasonably low price to eliminate competition
customary prices
political-legal environment
Robinson-Patman Act
persuasive advertising
32. Division of a population into homogenous groups based on thier relationships to the product
vertical marketing system (VMS)
outsourcing
product-related segmentation
motive
33. Consumer awareness and identification of a brand
generic products
environmental scanning
publicity
brand recognition
34. Detailed description of the resources and actions needed to achieve stated marketing objectives
consumer product (B2C)
marketing plan
pushing strategy
b2c e-marketing (business to consumer)
35. Hiring workers to do jobs from their homes
homeshoring
consumer behavior
consumer innovator
evoked set
36. 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
competitive environment
wheel of retailing
consumer innovator
modified breakeven analysis
37. Percentage of visitors to a website who make a purchase
phishing
marketing plan
conversion rate
cobranding
38. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands
retailing
comparitive advertising
bundle pricing
exchange process
39. 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
search marketing
organization marketing
reseller
40. Amount by which a retailer reduces the original selling price of a product
probability sample
SWOT analysis
markdown
evaluative criteria
41. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
brand insistence
trademark
radio frequency identification (RFID)
differentiated marketing
42. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.
promotion
psychographic segmentation
demographic segmentation
The BCG Matrix
43. Marketing activities other than personal selling - advertising - guerrila marketing - and public relations that stimulate consumer purchasing and dealer effectiveness
sales promotion
culture
wholesing intermediary
exploratory research
44. Using outside vendors to provide goods and services formerly produced in-house
outsourcing
conversion rate
blog
informative advertising
45. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
consumer orientation
product
markup
sales promotion
46. Name - term - sign - symbol - design - or some combination that identifies the products of one firm while differentiating them from the competition's
stock-keeping unit
goods
brand
computer-based segmentation
47. Activity in which 2 or more parties give something of value to each other to satisy perceived needs
spreadsheet analysis
demographic segmentation
The BCG Matrix
exchange process
48. Sales presentations made at prospective customer's' locations on a face-to- face basis
loss leader
click through rate
field selling
reseller
49. Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business
SWOT analysis
promotion
over-the-counter selling
publicity
50. Previously published information
Robinson-Patman Act
marketing (distribution) channel
secondary data
generic products