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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. Revenues and intangible benefits such as referrals and customer feedback that a customer brings to the seller over the average lifetime - less the amount the company must spend to acquire - market to - and service the customer
person marketing
unfair-trade laws
The BCG Matrix
lifetime value of a customer
2. Marketing intermediaries that operate in the trade sector
reseller
tariff
electronic data interchange (EDI)
foreign licensing
3. Product destined for use by ultimate consumers
marketing communications
environmental management
consumer product (B2C)
diffusion process
4. Site whose main purpose is to increase purchases by visitors
tactical planning
marketing web site
technological environment
relationship selling
5. Offering within a product line such as a specific size of liquid detergent
stock-keeping unit
person marketing
distribution
field selling
6. Firm that targets customers by collecting and analyzing business information - conducting customer transactions - and maintaining online relationships with customers
e-business
cannibalization
strategic planning
lifetime value of a customer
7. 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
product life cycle
lifetime value of a customer
breakeven analysis
exporting
8. Part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm's offerings from those of its competitors
consumer product (B2C)
modified breakeven analysis
brand recognition
brand name
9. Essential purpose that differentitates one company from others-- specifies the overall goals and operational scope and provides general guidelines for future management actions
learning
pulling strategy
mission
sampling
10. Blending of the four strategy elements - product - distribution - promotion - and price - to fit the needs and preferences of a specific target market
informative advertising
persuasive advertising
marketing mix
target-return objective
11. Activity in which 2 or more parties give something of value to each other to satisy perceived needs
exchange process
sales promotion
Porter's Five Forces
product life cycle
12. 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
evaluative criteria
marketing mix
manufacturers' representative
World Trade Organization (WTO)
13. Group of retail stores planned - coordinated - and marketed as a unit
brand
affinity marketing
culture
planned shopping center
14. Dominant and controlling member of a marketing channel
cobranding
logistics
channel captain
transaction based marketing
15. Trade restrictions that limit the number of units of certain goods that can enter a country for resale
import quotas
selective distribution
product-line pricing
outsourcing
16. Strategy of attaching a popular brand name to a new product in an unrelated product category
business services
direct marketing
brand extension
value pricing
17. 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.
convenience products
price
marketing
reference groups
18. Firm whose marketing specialists help advertisers plan and prepare advertisements
advertising agency
marketing plan
consumerism
cross-promotion
19. Inventory management system in which the seller--based on an existing agreement with a buyer--determines how much of a product is needed.
demarketing
promotional mix
planning
vendor-managed inventory (VMI)
20. Intangible tasks that satisfy the needs of consumer and business users
services
marketing myopia
supply chain
comarketing
21. Steps through which an individual reaches a purchase decision: attention - interest - desire - and action
vendor-managed inventory (VMI)
transaction based marketing
category management
AIDA concept
22. People who purchase new products almost as soon as the products reach the market
consumer innovator
primary data
place marketing
trademark
23. Development and maintenance of long-term - cost-effective relationships with individual customers - suppliers - employees - and other partners for mutual benefit
relationship marketing
relationship selling
sales promotion
strategic window
24. Process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives
bottom line
strategic business units (SBU's)
strategic planning
consumer products
25. Promotional effort by the seller directed to members of the marketing channel rather than final users
marketing concept
organization marketing
place marketing
pushing strategy
26. Pricing policy based on the belief that certain prices or price ranges make a good or service more appealing than others to buyers
marketing ethics
The BCG Matrix
need
psychological pricing
27. 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
interpretative research
product maximization
penetration pricing strategy
relationship marketing
28. Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world class performance
total quality management
franchise
advertising agency
organization marketing
29. Cooperative arrangement in which 2 or more businesses team up to closely link thier names on a single product
channel captain
personal selling
consumer innovator
cobranding
30. Hiring workers to do jobs from their homes
World Trade Organization (WTO)
trade industries
homeshoring
tariff
31. Want-satisfying power of a good or service
utility
shopping products
field selling
marketing mix
32. Broad range of activities aimed at efficient movement of finished good from the end of the production line to the consumer
physical distribution
self concept
market price
motive
33. Features that a consumer considers in chosing among alternatives
b2b marketing
global sourcing
evaluative criteria
elasticity
34. Meaning that a person attributes to incoming stimuli gathered through the 5 senses
business products
nearshoring
opinion leaders
perception
35. Advertising strategy that emphasizes messages with direct or indirect promotional comparisons between competing brands
electronic data interchange (EDI)
comparitive advertising
focus group
pushing strategy
36. Sample that involves personal judgement somehwere in the selection process
exclusive distribution
nonprobability sampling
physical distribution
channel captain
37. Measure of responsiveness of purchasers and suppliers to a change in price
physical distribution
The BCG Matrix
marketing communications
elasticity
38. Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them
product line
supply chain
brand equity
consumer orientation
39. Grid that organizes numerical information in a standardized - easily understood format
adoption process
spreadsheet analysis
spam
retailing
40. Movement of goods and services from producers to customers
motive
homeshoring
distribution
retail convergence
41. 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
broker
stock-keeping unit
exploratory research
conversion rate
42. Paid - nonpersonal communication through various media about a business firm - not-for-profit organization - product - or idea by a sponsor identified in a message that is intended to inform or persuade members of a particular audience
business services
advertising
brand preference
intergrated marketing communications
43. Products that consumers purchase after comparing competing offerings
organization marketing
b2b marketing
b2c e-marketing (business to consumer)
shopping products
44. Buying and Selling (Exchange functions) - Transporting and Storing (Physical distribution functions) - Standardizing and Grading - Financing - Risk Taking - and Securing marketing information (Facilitating functions)
brand recognition
Eight Universal Marketing functions
consultative selling
market segmentation
45. Products bought by ultimate consumers for personal use
search marketing
consumer products
countertrade
franchise
46. Process of anticipating events and market conditions and deciding how a firm can best achieve its organizational objectives
strategic plan
opinion leaders
planned shopping center
stock-keeping unit
47. Number of alternatives that a consumer actually considers in making a purchase decision
planned shopping center
consumer rights
modified breakeven analysis
evoked set
48. Brand for which the owner claims exclusive legal protection
fair-trade laws
first mover strategy
trademark
strategic planning
49. Goods and services that consumers want to purchase frequently - immediately - and with minimal effort
convenience products
interpretative research
sampling
selective distribution
50. Imbalance between a consumer's actual and desired states
sampling
convenience products
need
cross-promotion