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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. Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost
advertising agency
unfair-trade laws
breakeven analysis
exporting
2. Consumer reliance on previous experiences with a product to choose that product again
motive
personal selling
brand preference
geographic segmentation
3. Estimate of a firm's revenue for a specified future period
order processing
political-legal environment
sales forecast
breakeven analysis
4. Consumer awareness and identification of a brand
culture
brand recognition
partnership
informative advertising
5. Theory advocating that the company that is first to offer product in a marketplace will be the long-term market winner
business services
comarketing
first mover strategy
list price
6. 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
World Trade Organization (WTO)
adoption process
demarketing
foreign licensing
7. Sample that gives every member of the population a chance of being selected
economic environment
e-business
probability sample
creative selling
8. Knowledge or skill that is acquired as a result of experience - which changes consumer behavior
shopping products
business to business product
learning
demographic segmentation
9. 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
retailing
penetration pricing strategy
SWOT analysis
b2b marketing
10. Promotion that seeks to develop initial demand for a good - service - organization - person - place - idea - or cause
informative advertising
atmospherics
motive
micromarketing
11. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers
psychological pricing
manufacturers' representative
franchise
advertising campaign
12. Physiological - safety - social/belongingness - esteem needs - self-actualization
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13. Participants in an organizational buying action A
b2b e-marketing (business to business)
buying center
relationship selling
leader pricing
14. Advertising that reinforces previous promotional activity by keeping the name of a good - service - organization - person - place - idea - or cause before the public
opinion leaders
global sourcing
reminder advertising
yield management
15. Short-run or long-run pricing objectives of achieving a specified return on either sales or investment
cross-promotion
physical distribution
category management
target-return objective
16. Comprehensive term that describes wholesalers as well as agents and brokers
wholesing intermediary
trade industries
opinion leaders
order processing
17. Unconventional - innovative - and low-cost marketing techniques designed to get consumers' attention in unusual ways
vertical marketing system (VMS)
consumer innovator
phishing
guerrilla marketing
18. Classification used by NAFTA countries to categorize the business marketplace into detailed market segments
North American Industry Classification System - NAICS
product-related segmentation
brand preference
price
19. Strategy that focuses on producing several products and pricing - promoting - and distributing them with different marketing mixes designed to satisfy smaller segments.
blog
allowance
marketing communications
differentiated marketing
20. Purchasing goods and services from suppliers worldwide
modified breakeven analysis
manufacturers' representative
planning
global sourcing
21. Combination of physical chacterisitics and amenities that contribute to a store's image
economic environment
person marketing
atmospherics
sales promotion
22. Products bought by ultimate consumers for personal use
outsourcing
consumer products
planned shopping center
affinity marketing
23. Pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices
modified breakeven analysis
marketing concept
exchange rate
promotion
24. Distribution of a product through a single wholesaler or retailer in a specific geographic region
outsourcing
target-return objective
nonprobability sampling
exclusive distribution
25. Values - beliefs - preferences - and tastes handed down from one generation to the next
countertrade
culture
product line
brand preference
26. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action
scrambled merchandising
AIDA concept
economic environment
marketing (distribution) channel
27. Key business units within diversified firms-- each SBU has its own managers - resources - objectives - and competitors. A division - a product line - or single product may define the boundaries of an SBU - each persues its own mission and often devel
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28. Inner state that directs a person toward the goal of satisfying a need
product
consumer innovator
motive
family brand
29. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
social responsibility
consumer behavior
marketing web site
vendor-managed inventory (VMI)
30. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels
promotional mix
sponsorship
tariff
product-line pricing
31. Use of software to analyze marketing information - identifying and targeting messages toward specific groups of potential customers
database marketing
marketing (distribution) channel
positioning
strategic window
32. Meeting customer needs by listening to them - understanding their problems - paying attention to details - and following through after the sale
family brand
consultative selling
distribution
exporting
33. Marketing activities other than personal selling - advertising - and publicity that enhance consumer purchasing and dealer effectiveness
creative selling
homeshoring
trade industries
sales promotion
34. Personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs
product-line pricing
outsourcing
creative selling
brand extension
35. Marketers' standards of conduct and moral values
homeshoring
marketing ethics
goods
consumer product (B2C)
36. Marketing intermediaries that operate in the trade sector
positioning
evoked set
marketing ethics
reseller
37. State laws requiring sellers to maintain minimum prices for comparable merchandise
evaluative criteria
unfair-trade laws
creative selling
cognitive dissonance
38. Component of the marketing environment consisting of laws and thier interpretations that require firms to operate under competitive conditions and to protect consumer rights
phishing
supply chain
e-business
political-legal environment
39. Percentage of people presented with a banner ad who click on it
exclusive distribution
click through rate
place marketing
exchange process
40. Company wide consumer orientation with the objective of achieving long-run success--all facets from top to bottom of the organization contribute to satisfying customer needs and wants
marketing concept
business to business product
Eight Universal Marketing functions
brand insistence
41. 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
promotion
supply chain
loss leader
logistics
42. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market
marketing mix
supply chain
countertrade
product
43. Component of the marketing environment consisting of the relationship between the marketer - society - and culture
event marketing
social-cultural environment
tactical planning
marketing communications
44. International trade accord that has helped reduce world tariffs
brand name
goods
relationship selling
General Agreement on Tariffs and Trade (GATT)
45. Sample that involves personal judgement somehwere in the selection process
nonprobability sampling
business plan
culture
consumer product (B2C)
46. Products that consumers purchase after comparing competing offerings
lifetime value of a customer
marketing
wholesing intermediary
shopping products
47. Offering two or more complementary products and selling them for a single price
skimming pricing strategies
end-use application segmentation
bundle pricing
product
48. 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
search marketing
promotional mix
planning
mission
49. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance
advertising agency
total quality management
yield management
b2b e-marketing (business to business)
50. Control of the activities of purchasing - processing - and delivery through which raw materials are transformed into products and made available to final consumers
undifferentiated marketing
stock-keeping unit
exclusive distribution
supply-chain management