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CLEP Principles of Marketing: Study Guide & Test Prep Final Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Internal information search is likely to be the primary form of information search for which purchase?

Question 2 2. Marx Company seeks to satisfy the needs of targeted customers at a profit. Which orientation is Marx following?

Question 3 3. Which of the following would be an example of a slotting allowance?

Question 4 4. Which of these products would be an example of using demographic segmentation?

Question 5 5. A national retailer has two branded store chains. One carries premium quality merchandise at high prices and the other offers acceptable quality goods at the lowest prices. Which form of targeted marketing is the retailer following?

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Question 6 6. Which of these is the purpose for market segmentation?

Question 7 7. Housing starts would be an important leading indicator for which company?

Question 8 8. Intangibility, perishability, and variability are key characteristics of:

Question 9 9. Which form of transportation generally has the best accessibility to pickup and delivery locations?

Question 10 10. How would a firm follow the licensing approach to entering foreign markets?

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Question 11 11. JoAnn has an educational blog that has gained a large following. She collects ad revenue when readers follow links to the advertisers websites. Which metric is her ad revenue based on?

Question 12 12. Which of the following is an example of a global marketing standardization strategy?

Question 13 13. Which of the following activities occur when the marketing department is environmental scanning?

Question 14 14. Which of these situations illustrates elastic demand for a product?

Question 15 15. Which of the following is a feature of a good marketing objective in a marketing plan?

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Question 16 16. What is positioning?

Question 17 17. A local pizza restaurant decides to send flyers and menus to only people within their town, and the next town over. Which type of market segmentation did the pizza restaurant use?

Question 18 18. How do companies perform competitor product analysis?

Question 19 19. The measure of the response to the change in price of a product is called _____.

Question 20 20. If a butter manufacturer raises prices by 10% and the quantity of butter demanded by consumers falls 20%, this would be an example of _____.

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Question 21 21. How do teams assist under relationship selling theory?

Question 22 22. What is the main way marketers create a desire for their product?

Question 23 23. In its most recent advertisements, the Wild Watch Company is promoting the company rather than an individual product. They talk about how their customer service is geared entirely to help consumers. Which type of advertising are they using?

Question 24 24. Which of the following is the receiver's response to a promotional message?

Question 25 25. Sales for your company have plateaued. What is the most likely way to increase sales and revenue?

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Question 26 26. What part of the corn chip marketing mix will most likely be affected if there is a worldwide corn plague?

Question 27 27. Which is NOT an example of product adaptation?

Question 28 28. Which of the following answer choices demonstrates an example of sustainability in business?

Question 29 29. Which of the following BEST explains the stakeholder theory?

Question 30 30. Which of the following actions will assist the consumer in his/her evaluation of what products or causes are genuinely worthwhile?

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Question 31 31. The Wacky Watch Company is deciding on which of the following they should focus selling their watches to?

Question 32 32. The study of the human behavior in its natural context is an example of _____.

Question 33 33. Evaluate the importance of producer markets.

Question 34 34. What is a limited introduction of a product and marketing program to determine whether or not the product/service will be successful with the target market?

Question 35 35. In which type of retail store are you likely to find the lowest prices?

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Question 36 36. Which of the following is the BEST way to describe the maturity stage in the product life cycle?

Question 37 37. Product enhancements and informing customers are ways _____ impacts marketing.

Question 38 38. Mark owns a production plant that makes different types of rubber for car tires. Mark has to worry whether there are changes in laws that could change the product specifications for the tires. A regulatory agency could recall their product or shut down their facility if the tires are not being made correctly. Mark has to be careful because a lawsuit could impact their company profits. He is thinking of merging with another company to save money, but it could be blocked as anticompetitive. Which is the BEST answer to describe this scenario?

Question 39 39. If a spa offers a unique experience of underwater massage that can only be found at their location, this is an example of which of the following?

Question 40 40. What is environmental scanning?

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Question 41 41. Which is the BEST way to describe market penetration?

Question 42 42. What is marketing myopia?

Question 43 43. Consumer behavior helps marketers create an effective marketing strategy because:

Question 44 44. Which of the following is a learned part of consumer behavior?

Question 45 45. Which of the following is NOT true about low involvement purchases?

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Question 46 46. What are the three main functions of intermediaries?

Question 47 47. What is the difference between the marketing goals of non-profit and for-profit organizations?

Question 48 48. Letting customers (or potential customers) know about your product, with a focus on purchasing it, is the goal of:

Question 49 49. Sean owns a retail company. He shops various suppliers to get the best possible price for clothes that will be sold in his store. Which type of business customer is Sean?

Question 50 50. Which of the following is a characteristic of relationship selling?

CLEP Principles of Marketing: Study Guide & Test Prep Final Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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