business

Principles of Marketing

Marketing is the process by which companies create customer interest in products or services. It creates strategies that establish sales approaches, business communication and development. It is an integrated process through which companies build customer relationships and create value for both the customer and for themselves.

The Principles of Marketing exam covers material that is usually taught in a one-semester introductory course in marketing. These classes are usually known as Basic Marketing, Introduction to Marketing, Fundamentals of Marketing, Marketing, or Marketing Principles. The exam concerns itself with how marketing works in society and within a firm, understanding consumer and organizational markets, planning marketing strategies, the marketing mix, marketing institutions. Other selected topics, such as international marketing, ethics, marketing research, services and not-for-profit marketing are also covered.

The exam contains approximately 100 questions to be answered in 90 minutes. Some of these are pretest questions that will not be scored. The College Board provides the parameters for the exam which are listed below.

WHAT YOU NEED TO KNOW ABOUT MARKETING:

The student is expected to have a basic knowledge of the economic/demographic, social/cultural, political/legal, and technological trends that are important to marketing. The subject matter of the Principles of Marketing exam is drawn from the following topics.

ROLE OF MARKETING IN SOCIETY: 8-13% of the exam

  • Ethics
  • Non profit marketing
  • International marketing

ROLE OF MARKETING IN A FIRM: 17-24% of the exam

  • Marketing concept
  • Marketing strategy
  • Marketing environment
  • Marketing decision system
  • Marketing research
  • Marketing information system

TARGET MARKETING: 22-27% of the exam

A well-defined target market is the first element of a marketing strategy.

  • Consumer Behavior
  • Segmentation
  • Positioning
  • Business-to-business markets

MARKETING MIX: 40-50% of the exam

The Marketing Mix is the set of marketing tools that a company uses to accomplish its marketing objectives.

  • Product and service management
  • Branding
  • Pricing policies
  • Distribution channels and logistics
  • Integrated marketing
    communications/Promotion
  • Marketing application in e-commerce

Each college sets their own credit-granting policies for the exam, so check with your college admission office, test center, or academic adviser before taking the test.

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