The CLEP: Principles of Marketing examination was developed by the College Board as a way for individuals to demonstrate undergraduate-level knowledge and skills in this subject. Almost three thousand American colleges give credit to students who pass a CLEP exam; for this reason, many college-bound students take a CLEP exam in order to skip over introductory courses.
The content of the exam is broken down as follows: the role of marketing in society (8-13% of the exam); the role of marketing in a firm (17-24%); target marketing (22-27%); and the marketing mix (40-50%). The marketing in society subset covers the following topics: ethics; nonprofit marketing; and international marketing. The marketing in a firm subset covers the following topics: marketing concepts; marketing strategy; marketing environment; and the marketing decision system, including marketing research and marketing information systems. The target marketing subset covers the following topics: consumer behavior; segmentation; positioning; and business-to-business markets. Finally, the marketing mix subset covers the following topics: product and service management; branding; pricing policies; distribution channels and logistics; integrated marketing communications and promotion; and marketing applications in e-commerce. The Principles of Marketing exam consists of 100 multiple-choice questions and must be completed within 90 minutes.
After the exam is complete, an unofficial score report will be made available. This score report will include the total score on a scale of 20 to 80; the American Council on Education recommends that students get credit if they score 50 or above. The total score is the raw score (number of correct answers) adjusted according to the difficulty of the exam version. The College Board does not distinguish between unanswered questions and questions answered incorrectly, so test-takers are encouraged to respond to every question. Some of the questions on the exam are pre-test questions, which are used to develop future versions of the exam and do not contribute to the raw score. It is impossible for test-takers to determine which questions are pre-test questions. The CLEP exams are administered in both computer and paper formats at over a thousand locations throughout the world. To register for an exam, visit the College Board website.
CLEP Principles Of Marketing Practice Questions
1. What kind of production method will likely be used when labor is inexpensive?
2. In marketing, what is the term for the usefulness of a product that is a consequence of its creation from raw material?
A: place utility
B: position utility
C: price utility
D: form utility
E: capital utility
3. Which of the following is not an example of a convenience good?
4. Which phase of the product life cycle is considered to be the most critical?
5. What is another name for the practice of introducing a new product at a high price for a brief period, in the hopes of recouping production costs?
A: market penetration pricing
B: market-skimming pricing
C: price lining
D: quantity discounts
6. Which of the following is a difference between merchant middlemen and agent middlemen?
A: Agent middlemen acquire ownership of the products they sell, while merchant middlemen do not.
B: Merchant middlemen sell products directly to the consumer.
C: Agent middlemen have no control over production processes.
D: Merchant middlemen acquire ownership of the products they sell, while agent middlemen do not.
E: Merchant middlemen only sell their goods to wholesalers.
7. Transportation services that are operated by the shipper are known as _____.
A: private carriers
B: middle carriers
C: common carriers
D: instrumental carriers
E: contract carriers
8. Which of the following is not part of the AIDA process in advertising?
9. What type of utility does a bag of rice acquire for the consumer upon purchase?
10. Which of the following is the final phase in the product development process?
A: building a prototype
B: test marketing
C: business analysis
E: product testing
CLEP Principles Of Marketing Answer Key
1. C. A labor-intensive process requires a great deal of labor as compared to capital.
2. D. Form utility can be increased by changing the physical characteristics of the product.
3. E. Convenience goods are purchased often.
4. C. It is in the introduction phase that the opinion of the public is largely established.
5. B. Market-skimming pricing is appropriate when a new product is being introduced to the market just ahead of competitors.
6. D. Agent middlemen receive a share of the sale price but must pass some along to the owner as well.
7. A. Private carriers, unlike common carriers, retain the authority to deny services to an organization.
8. A. In advertising, AIDA (attention, interest, desire, action) is the sequence of behaviors performed by the customer.
9. E. Ownership utility is the right to do something to a product by virtue of owning it.
10. D. Only after a product has been tested and refined should it be introduced commercially.