Test Bank for Principles of Marketing 18th edition by Gary Armstrong, Philip Kotler (Chapter 1-20), All Chapters

Test Bank for Principles of
Marketing
Revised by Michael Casey
TU

Principles of Marketing
Eighteenth Edition
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Philip Kotler
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Gary Armstrong
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,Principles of Marketing, 18e (Kotler)
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 thinking
TU
Skill: 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
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B) emphasize customer wants and not customer needs
C) make selling unnecessary
D) fulfill unrealistic customer expectations
E) sell products
Answer: C
AACSB: Application of knowledge
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Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy
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3) Marketing is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through .
A) research and development
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B) innovation and creativity
C) manufacturing efficiencies
D) value creation and exchange
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E) sales and revenue creation
Answer: D
AACSB: Application of knowledge
Skill: Concept
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Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate




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,4) According to the five-step model of the marketing process, which of the following is the final
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
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
TU
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
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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
AACSB: Application of knowledge
Skill: Concept
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Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate

6) Marketing is managing profitable customer relationships.
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Answer: TRUE
AACSB: Application of knowledge
Skill: Concept
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Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy
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7) are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
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D) Values
E) Exchanges
Answer: B
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy



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, 8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
Answer: B
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
TU
Difficulty: Easy

9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
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D) the newest iPhone
E) belonging
Answer: D
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
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identify the five core marketplace concepts.
Difficulty: Easy

10) Greg Williams now has the buying power to purchase the desktop computer that he has
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wanted for the last six months. Greg's want now has become a(n) .
A) need
B) necessity
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C) demand
D) exchange
E) transaction
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Answer: C
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
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identify the five core marketplace concepts.
Difficulty: Moderate