Practice Quiz

CLEP Principles of Marketing Exam Prep - Question List

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11. A local Wal-Mart store urges its customers to bring competitors’ advertisements for certain products sold at the store, and they would beat those prices. This is an example of
  1. Price underselling
  2. Price competition
  3. Price gouging
  4. Horizontal pricing
  5. Vertical pricing
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12. Selye, Inc. and the Pomona Company produce and sell different products-diet supplements and home exercise equipment respectively-but they satisfy the same customer need of losing weight. The companies are referred to as
  1. Niche competitors
  2. Brand competitors
  3. Product competitors
  4. Generic competitors
  5. Lifestyle competitors
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13. GrowIt collaborated with Nestle to develop a new line of healthy fruit and vegetable juices called “Healthy Drinks.” Healthy Drinks is thus considered a
  1. Licensed brand
  2. Organic brand
  3. Specialty brand
  4. Multi-brand
  5. Co-brand
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14. Which of the following information would not be readily available to a shift manager in a retail store?
  1. Location of other store branches
  2. Total sales figures in the store
  3. Expected sales figures per shift
  4. Updated information on store sales items
  5. Demographic spending of middle-income earners
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15. In a focus group, participants recognize Nike, Reebok, and Puma in what marketers refer to as ______________.
  1. An evoked set
  2. An invoked set
  3. An implicitly known set
  4. An explicitly known set
  5. An evaluative set
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