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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. 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
informative advertising
European Union (EU)
importing
consumer rights
2. High tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal information
penetration pricing strategy
World Trade Organization (WTO)
manufacturers' representative
phishing
3. Detailed description of the resources and actions needed to achieve stated marketing objectives
marketing plan
loss leader
value pricing
business services
4. 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
retail convergence
competitive pricing strategy
bundle pricing
marketing concept
5. Channel intermediary that takes title to goods it handles and then distributes these goods to retailers - other distributors - or B2B customers
marketing web site
supply-chain management
adoption process
wholesaler
6. Selling situation in which several sales associates or other members of the organization are recruited to help the lead sales representative reach all those who influence the purchase decision
exchange rate
fair-trade laws
sponsorship
team selling
7. Strategy in which a retailer shares advertising costs with a manufacturer or wholesaler
offshoring
cooperative advertising
trademark
Profit Impact of Market Strategies (PIMS) project
8. Marketing of sporting - cultural - and charitable activities to selected target markets
product line
place marketing
brand
event marketing
9. Percentage of visitors to a website who make a purchase
target-return objective
stock-keeping unit
product
conversion rate
10. Marketing domestically produced goods and services in foreign countries
marketing ethics
probability sample
exporting
electronic storefront
11. Price that a consumer or marketing intermediary actually pays for a product after subtracting any discounts - allowances - or rebates from the list price
market price
strategic planning
environmental management
foreign licensing
12. Combination of physical chacterisitics and amenities that contribute to a store's image
atmospherics
green marketing
marketing decision support system (MDSS)
trade industries
13. Marketing efforts to attract people and organization to a particular geographic area-- tourist attractions lure vacation travelers
evaluative criteria
product line
place marketing
environmental management
14. Indirect type of selling in which specialized salespeople promote the firms goodwill among indirect customers - often by helping customers use products
missionary selling
brand insistence
micromarketing
end-use application segmentation
15. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
public relations
Eight Universal Marketing functions
geographic segmentation
brand
16. Development - growth - and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit.
bundle pricing
skimming pricing strategies
relationship marketing
competitive environment
17. Hiring workers to do jobs from their homes
foreign licensing
geographic segmentation
customer relationship management (CRM)
homeshoring
18. Process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources
relationship selling
loss leader
exploratory research
cobranding
19. Sequence of suppliers that contribute to the creation and delivery of a good or service
supply chain
culture
vertical marketing system (VMS)
consumer product (B2C)
20. Features that a consumer considers in chosing among alternatives
The BCG Matrix
evaluative criteria
cooperative advertising
probability sample
21. Messages that deal with buyer-seller relationships
sales promotion
marketing communications
fair-trade laws
bundle pricing
22. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives
Eight Universal Marketing functions
vendor-managed inventory (VMI)
focus group
strategic planning
23. Distribution of a product through a limited number of channels
selective distribution
commercial market
pushing strategy
social-cultural environment
24. Company website that sells products to customers
exclusive distribution
electronic storefront
fair-trade laws
convenience products
25. Product management system in which a category manager--with profit and loss responsibility-- oversees a product line
category management
psychological pricing
SWOT analysis
allowance
26. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit
fair-trade laws
political-legal environment
promotional pricing
relationship marketing
27. 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
manufacturer's brand
countertrade
modified breakeven analysis
selective distribution
28. 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
bottom line
product-line pricing
affinity marketing
franchise
29. Measure of responsiveness of purchasers and suppliers to a change in price
cannibalization
geographic segmentation
evaluative criteria
elasticity
30. Division of a population into groups that have similar psychological characteristics - values - and lifestyles.
product
consumer rights
psychographic segmentation
unfair-trade laws
31. Practice of setting a limited number of prices for a selection of merchandise and marketing different product lines at each of these price levels
organization marketing
demographic segmentation
search marketing
product-line pricing
32. People or institutions whose opinions are valued and to whom a person looks for guidance in his or her own behavior - values - and conduct - such as family - friends - or celebrities.
foreign licensing
planning
reference groups
phishing
33. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives
strategic plan
advertising agency
vendor-managed inventory (VMI)
The BCG Matrix
34. Comprehensive term that describes wholesalers as well as agents and brokers
wholesing intermediary
over-the-counter selling
geographic segmentation
opinion leaders
35. Limited periods in during which the key requirements of a market and the particular competencies of a firm best fit together
exporting
supply chain
direct marketing
strategic window
36. Moving jobs to vendors in countries close to the businesses home country
World Trade Organization (WTO)
nearshoring
Robinson-Patman Act
exchange process
37. 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
planned shopping center
exporting
demographic segmentation
global sourcing
38. Using outside vendors to provide goods and services formerly produced in-house
lifetime value of a customer
SWOT analysis
outsourcing
publicity
39. Marketing intermediaries that operate in the trade sector
first mover strategy
vertical marketing system (VMS)
radio frequency identification (RFID)
reseller
40. Retailers or wholesalers that purchase products for resale to others-- usually finished goods are bought and resold to consumers; clothing - auto parts - meat.
trade industries
organization marketing
services
public relations
41. 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
tactical planning
intermodal operations
trademark
public relations
42. Consumer reliance on previous experiences with a product to choose that product again
business plan
brand preference
World Trade Organization (WTO)
foreign licensing
43. Selling directly to consumers over the internet
b2c e-marketing (business to consumer)
retailing
product advertising
product life cycle
44. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort
vendor-managed inventory (VMI)
supply chain
intensive distribution
convenience products
45. Nonpersonal selling of a particular good or service
product advertising
cooperative advertising
marketing mix
buying center
46. Specified deduction from a list price - including a trade-in or promotional allowance
electronic data interchange (EDI)
frequency marketing
nearshoring
allowance
47. Sample that gives every member of the population a chance of being selected
political-legal environment
target-return objective
probability sample
interactive marketing
48. Activity in which 2 or more parties give something of value to each other to satisy perceived needs
exchange process
advertising
marketing communications
inside selling
49. Component of the marketing environment consisting of the relationship between the marketer - society - and culture
business to business product
product maximization
perception
social-cultural environment
50. Loss of sales of an existing product due to competition from a new product in the same line
social-cultural environment
cannibalization
markup
bottom line