TEST BANK for Principles of Marketing 18th Edition by Philip Kotler and Gary Armstrong. Complete Chapters 1-20 Newest Version 2024 EDITION ISBN: 9780136708582

Microsoft Word - 9b2e73934610867-1.doc - TEST BANK for Principles... file:///C:/Users/HP/Downloads/TEST%20BANK%20for%20Princip




TEST BANK
For Principles Of Marketing 18th Edition By Philip
Kotler And Gary Armstrong. Complete
All Chapters 1-20 Complete.




1 of 1401 8/14/2024, 3:18

,Microsoft Word - 9b2e73934610867-1.doc - TEST BANK for Principles... file:///C:/Users/HP/Downloads/TEST%20BANK%20for%20Princip




Principles of Marketing, 18e, Global Edition (Kotler/Armstrong)
Chapter 1 Marketing: Creating Customer Value and Engagement

1) Which of the following is NOT an accurate description of modern marketing?
A) Marketing is the creation of value for customers.
B) Marketing involves managing profitable customer relationships.
C) Marketing emphasizes selling and advertising exclusively.
D) Marketing involves satisfying customers' needs.
E) Marketing is building value-laden exchange relationships with
customers.
Answer: C

AACSB: Analytical
thinkingSkill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing
process.Difficulty: Moderate

2) According to management guru Peter Drucker, "The aim of marketing is to ."
A) maximize profits of the company
B) emphasize customer wants and not customer needs
C) make selling unnecessary
D) fulfill unrealistic customer expectations
E) sell
products
Answer: C

Skill:
Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing
process.Difficulty: Easy

3) Marketing is defined as a social and managerial process by which
individuals andorganizations obtain what they need and want through .
A) research and development
B) innovation and creativity
C) manufacturing
efficiencies D) value
creation and exchange
D) sales and revenue
creation
Answer: D

AACSB: Application of
knowledgeSkill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing
process.Difficulty: Moderate




2 of 1401 8/14/2024, 3:18

,Microsoft Word - 9b2e73934610867-1.doc - TEST BANK for Principles... file:///C:/Users/HP/Downloads/TEST%20BANK%20for%20Princip




4) According to the five-step model of the marketing process, which of the
following is thefinal step in creating value for customers?
A) designing a customer-driven marketing strategy
B) understanding the marketplace and customer needs
C) constructing an integrated marketing program that delivers superior value
D) building profitable relationships and creating customer delight
E) capturing value from customers to create profit and
customer equity
Answer: E

Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing
process.Difficulty: Moderate

5) According to the five-step model of the marketing process, a company should
before designing a customer-driven marketing strategy.
A) determine how to deliver superior value to customers
B) build profitable relationships with customers
C) use customer relationship management to create full partnerships with key
customers
D) understand the marketplace and customer needs and wants
E) construct an integrated marketing
program
Answer: D

Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing
process.Difficulty: Moderate

6) Marketing is managing profitable customer
TRUE
relationships.
Answer:true
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing
process.Difficulty: Easy

7) are human needs that are shaped by culture and individual personality.
A) Necessiti
esB) Wants
C) Demands
D) Values
E) Exchange
s
Answer: B

Skill:
Concept




3 of 1401 8/14/2024, 3:18

,Microsoft Word - 9b2e73934610867-1.doc - TEST BANK for Principles... file:///C:/Users/HP/Downloads/TEST%20BANK%20for%20Princip




Objective: LO 1.2: Explain the importance of understanding the marketplace and
customers andidentify the five core marketplace concepts.
Difficulty: Easy




4 of 1401 8/14/2024, 3:18