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Sample Questions: Principles of Marketing

The following Principles of Marketing sample questions aren't used in actual CLEP exams and aren’t presented here as they will be on the test. Use them to get a sense of question format and difficulty level.

Directions

Each of the questions or incomplete statements below is followed by five suggested answers or completions. Select the one that is best in each case.

Questions

  1. The stage of product development that involves launching a new product into the market is called
    1. a debut
    2. an inception
    3. an initiation
    4. test marketing
    5. commercialization
  2. In the marketing research process, companies often gather and analyze secondary data rather than primary data because secondary data
    1. are more readily available and less expensive to collect than primary data
    2. provide more detailed information about consumer preferences than do primary data
    3. are easier to analyze than primary data
    4. are limited to internal sources, whereas primary data include external sources as well
    5. can be more readily adapted to individual needs
  3. A fast-food chain seeking an easy and low-cost entry into a foreign market would most likely choose which of the following avenues?
    1. Franchising
    2. Joint ventures
    3. Wholly owned subsidiaries
    4. Turnkey operations
    5. Exporting
  4. Which of the following specifies a limit on the amount of certain products that can be imported into a country?
    1. A tariff
    2. A quota
    3. A credit restriction
    4. An exchange control
    5. An embargo
  5. A statement most consistent with the philosophy of the marketing concept would say that the key to success is
    1. innovative product development
    2. a persuasive sales force
    3. an experienced team of marketing managers
    4. customer satisfaction
    5. minimization
  6. During the first stage of the product life cycle, a marketer’s objective most likely will be to
    1. maximize market share
    2. build product awareness
    3. reduce expenditures
    4. defend a position
    5. diversify into new categories
  7. When a convenience store manager raised the price of fountain drinks by 10%, she found that the store sold only half as many fountain drinks. The manager’s observation indicates that the demand for fountain drinks is highly
    1. resilient
    2. antagonistic
    3. derived
    4. exponential
    5. elastic
  8. A market segmentation scheme that divides a product’s market into heavy users versus moderate users versus light users of the product is an example of
    1. benefit segmentation
    2. demographic segmentation
    3. behavioral segmentation
    4. geodemographic segmentation
    5. lifestyle segmentation

Answers

1) E   2) A   3) A   4) B   5) D   6) B   7) E   8) C