Principles of Marketing
The Principles of Marketing exam covers consumer and organizational markets, marketing strategy, and the marketing mix.
Overview
The Principles of Marketing exam covers material that is usually taught in a one-semester introductory course in marketing. Such a course is usually known as Basic Marketing, Introduction to Marketing, Fundamentals of Marketing, Marketing, or Marketing Principles. The exam is concerned with the role of marketing in society and within a firm, understanding consumer and organizational markets, marketing strategy planning, the marketing mix, marketing institutions, and other selected topics, such as international marketing, ethics, marketing research, services, and not-for-profit marketing. You're expected to have a basic knowledge of the economic/demographic, social/cultural, political/legal, and technological trends that are important to marketing.
The exam contains approximately 100 questions to be answered in 90 minutes. Some of these are pretest questions that will not be scored.
Knowledge and Skills Required
The subject matter of the Principles of Marketing exam is drawn from the following topics in the approximate proportions indicated. The percentages next to the main topics indicate the approximate percentage of exam questions on that topic.
World of Marketing (8%–15%)
- Marketing concept
- International marketing
- Nonprofit marketing
- Ethics
Role of Marketing in a Firm (17%–24%)
- Marketing strategy
- Marketing environment
- Marketing decision system
- Marketing research
- Marketing information system
Target Marketing (22%–27%)
- Consumer behavior/business buyer behavior
- Business-to-business markets
- Segmentation and targeting
- Positioning
Marketing Mix (40%–48%)
- Developing/managing products
- Types of products
- New product development process
- Product life cycle
- Brand identity
- Promoting products to potential customers
- Elements of promotional mix
- Regulation of promotion
- Digital marketing/other advertising media
- Managing the supply chain, channels of distribution and logistics
- Nature and scope of channel and supply chain management
- Types of distribution channels for products
- Logistical components of supply chain
- Barriers to the use of technology in channel management
- Effect of regulation on channel management activities
- Pricing products
- Nature and scope of the pricing function
- Legal considerations for pricing
- Technology use in pricing
- Factors that affect a product’s selling price
Score Information
ACE Recommendation for Principles of Marketing
| Credit-granting Score | 50 |
| Semester Hours | 3 |
Note: Each institution reserves the right to set its own credit-granting policy, which may differ from the American Council on Education (ACE). Contact your college to find out the score required for credit and the number of credit hours granted.