TESTBANKS BY TESTBANKSNERD
Test Bank for Principles of Marketing 17th Edition
by Philip Kotler, Gary Armstrong
All Chapters (1-20) |Expert Verified Answers | Graded A+
1
Copyright © 2018 Pearson Education, Ltd.
,TESTBANKS BY TESTBANKSNERD
Principles of Marketing, 17e, 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
2
Copyright © 2018 Pearson Education, Ltd.
,TESTBANKS BY TESTBANKSNERD
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
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.
TRUEAnswer:
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
3
Copyright © 2018 Pearson Education, Ltd.
, TESTBANKS BY TESTBANKSNERD
8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
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
9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging
Answer: D
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers
and identify the five core marketplace concepts.
Difficulty: Easy
10) Greg Williams now has the buying power to purchase the desktop computer that
he has wanted for the last six months. Greg's want now has become a(n) .
A) need
B) necessity
C) demand
D) exchange
E) transactio
n Answer: C
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers
and identify the five core marketplace concepts.
Difficulty: Moderate
4
Copyright © 2018 Pearson Education, Ltd.
Test Bank for Principles of Marketing 17th Edition
by Philip Kotler, Gary Armstrong
All Chapters (1-20) |Expert Verified Answers | Graded A+
1
Copyright © 2018 Pearson Education, Ltd.
,TESTBANKS BY TESTBANKSNERD
Principles of Marketing, 17e, 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
2
Copyright © 2018 Pearson Education, Ltd.
,TESTBANKS BY TESTBANKSNERD
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
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.
TRUEAnswer:
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
3
Copyright © 2018 Pearson Education, Ltd.
, TESTBANKS BY TESTBANKSNERD
8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
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
9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging
Answer: D
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers
and identify the five core marketplace concepts.
Difficulty: Easy
10) Greg Williams now has the buying power to purchase the desktop computer that
he has wanted for the last six months. Greg's want now has become a(n) .
A) need
B) necessity
C) demand
D) exchange
E) transactio
n Answer: C
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers
and identify the five core marketplace concepts.
Difficulty: Moderate
4
Copyright © 2018 Pearson Education, Ltd.
