TEST BANK For Principles of Marketing 19e Global Edition By Kotler, Armstrong, Balasubramanian, Verified Chapters 1 - 20, Complete Newest Version

,
,Principles of Marketing, 19e, 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 thinking
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
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 and organizations
obtain what they need and want through ________.
A) research and development
B) innovation and creativity
C) manufacturing efficiencies
D) value creation and exchange
E) sales and revenue creation
Answer: D
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
Moderate

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

1
Copyright © 2018 Pearson Education, Ltd.

, 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 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) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges Answer: B
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy

8) When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges Answer: B


2
Copyright © 2018 Pearson Education, Ltd.