Test Bank for Marketing An Introduction 6th Edition by Gary Armstrong and Philip Kotler

1) Which of the following is most essential to even the simplest definition of marketing? A) demand management B) the production concept C) customer relationships D) making a sale E) making a profit Answer: C Diff: 1 Type: MC Page Ref: 5 Skill: Concept Objective: 1-1 2) Which of the following is an accurate description of modern marketing today? A) Marketing is the creation of products for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying producers' needs first. E) Marketing is used by for-profit organizations only. Answer: B Diff: 1 Type: MC Page Ref: 5 Skill: Concept Objective: 1-1 3) According to management guru Peter Drucker, "The aim of marketing is to ." A) create customer demands B) identify customer demands C) make selling unnecessary D) set realistic customer expectations E) sell products Answer: C Diff: 1 Type: MC Page Ref: 6 Skill: Concept Objective: 1-1 4) is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. A) Selling B) Advertising C) Bartering D) Marketing E) Negotiating Answer: D Diff: 2 Type: MC Page Ref: 6 Skill: Concept Objective: 1-1 5) The steps of the five-step marketing process are about understanding customers, creating customer value,....................................continued