Marketing Management, 15e (Kotler)
Chapter 1 Defining Marketing for the New Realities
1) Which of the following statements about marketing is true?
A) It is of little importance when products are standardized.
B) It can help create jobs in the economy by increasing demand for goods and services.
C) It helps to build a loyal customer base but has no impact on a firm's intangible assets.
D) It is more important for bigger organizations than smaller ones.
E) It is seldom used by nonprofit organizations.
Answer: B
Diff: 1
LO: 1.1: Why is marketing important?
AACSB: Reflective thinking
2) A marketer's only concern is how best to create demand for a new product produced
by his/her company. Improving product design is not his/her responsibility.
Answer: FALSE
Diff: 1
LO: 1.1: Why is marketing important?
AACSB: Reflective thinking
3) ________ management is the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating
superior customer value.
A) Marketing
B) Knowledge
,C) Operations
D) Strategic
E) Distribution
Answer: A
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
4) Identify the correct statement about marketing management.
A) It is primarily concerned with the systematic gathering, recording, and analysis of data
about issues related to marketing products and services.
B) It focuses mostly on monitoring the profitability of a company's products and services.
C) It focuses solely on attaining an organization's sales goals in an efficient manner.
D) It is defined as the field that deals with planning and managing a business at the
highest level of corporate hierarchy.
E) It occurs when at least one party to a potential exchange thinks about the means of
achieving desired responses from other parties.
Answer: E
Diff: 2
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
5) A social definition of marketing says ________.
A) effective marketing requires companies to remove intermediaries to achieve a closer
connection with direct consumers
B) a company should focus exclusively on achieving high production efficiency, low
costs, and mass distribution to facilitate the broadest possible access to the company's
products
,C) marketing is the process by which individuals and groups obtain what they need and
want through creating, offering, and freely exchanging products and services of value
with others
D) marketing is the process of extracting the maximum value from consumers to
facilitate corporate growth
E) marketing is the process of aggressive selling and promotion to encourage the
purchase of products that might otherwise be unsought by the consumer
Answer: C
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
6) ________ goods constitute the bulk of most countries' production and marketing
efforts.
A) Durable
B) Impulse
C) Physical
D) Luxury
E) Intangible
Answer: C
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
7) As economies advance, a growing proportion of the economy's activities focuses on
the production of ________.
A) products
, B) events
C) experiences
D) luxury goods
E) services
Answer: E
Diff: 2
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
Chapter 1 Defining Marketing for the New Realities
1) Which of the following statements about marketing is true?
A) It is of little importance when products are standardized.
B) It can help create jobs in the economy by increasing demand for goods and services.
C) It helps to build a loyal customer base but has no impact on a firm's intangible assets.
D) It is more important for bigger organizations than smaller ones.
E) It is seldom used by nonprofit organizations.
Answer: B
Diff: 1
LO: 1.1: Why is marketing important?
AACSB: Reflective thinking
2) A marketer's only concern is how best to create demand for a new product produced
by his/her company. Improving product design is not his/her responsibility.
Answer: FALSE
Diff: 1
LO: 1.1: Why is marketing important?
AACSB: Reflective thinking
3) ________ management is the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating
superior customer value.
A) Marketing
B) Knowledge
,C) Operations
D) Strategic
E) Distribution
Answer: A
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
4) Identify the correct statement about marketing management.
A) It is primarily concerned with the systematic gathering, recording, and analysis of data
about issues related to marketing products and services.
B) It focuses mostly on monitoring the profitability of a company's products and services.
C) It focuses solely on attaining an organization's sales goals in an efficient manner.
D) It is defined as the field that deals with planning and managing a business at the
highest level of corporate hierarchy.
E) It occurs when at least one party to a potential exchange thinks about the means of
achieving desired responses from other parties.
Answer: E
Diff: 2
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
5) A social definition of marketing says ________.
A) effective marketing requires companies to remove intermediaries to achieve a closer
connection with direct consumers
B) a company should focus exclusively on achieving high production efficiency, low
costs, and mass distribution to facilitate the broadest possible access to the company's
products
,C) marketing is the process by which individuals and groups obtain what they need and
want through creating, offering, and freely exchanging products and services of value
with others
D) marketing is the process of extracting the maximum value from consumers to
facilitate corporate growth
E) marketing is the process of aggressive selling and promotion to encourage the
purchase of products that might otherwise be unsought by the consumer
Answer: C
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
6) ________ goods constitute the bulk of most countries' production and marketing
efforts.
A) Durable
B) Impulse
C) Physical
D) Luxury
E) Intangible
Answer: C
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
7) As economies advance, a growing proportion of the economy's activities focuses on
the production of ________.
A) products
, B) events
C) experiences
D) luxury goods
E) services
Answer: E
Diff: 2
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
