FREE CLEP Marketing MCQ Question and Answers

Question 1

Which of the subsequent is not a component of the marketing mix?

Accepted Answer

planning

Answer

price

Answer

product

Answer

promotion

Question 2

In order to ensure that a research study measures what it is intended to, researchers must carefully consider its design. This is also known as:

Accepted Answer

validity

Answer

reliability

Answer

observation

Answer

sampling

Question 3

Which option is the worst one to use when shipping a product like stones?

Accepted Answer

air

Answer

rail

Answer

water

Answer

truck

Question 4

All of the following—with the exception of______ causes failure of new products frequently:

Accepted Answer

existence of protocol

Answer

too small of a target market

Answer

poor timing

Answer

bad execution of the marketing mix

Question 5

Peter is trying to calculate the markdown for a desk he is selling for $100.00 with a $31.00 markdown. What proportion would he estimate?

Accepted Answer

31%

Answer

15%

Answer

17%

Answer

3.7%

Question 6

What does a product that sells for $400.00 and has a 40% markdown cost at retail?

Accepted Answer

$240.00

Answer

$180.00

Answer

$200.00

Answer

$270.00

Question 7

The purchasing department at Wal-Mart just purchased leather belts for $30.00 each. On the belts, they demand a 20% markup at retail. What should the suggested retail price be?

Accepted Answer

$37.50

Answer

$36.50

Answer

$35.00

Answer

$39.00