1
Copyright © 2018 Pearson Education, Ltd.
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, 2
Copyright © 2018 Pearson Education, Ltd.
r r r r r
,Principles of Marketing, 19e, Global Edition (Kotler/Armstrong)
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Chapter 1 Marketing: Creating Customer Value and Engagement
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1) Which of the following is NOT an accurate description of modern marketing?
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A) Marketing is the creation of value for customers. r r r r r r r
B) Marketing involves managing profitable customer relationships.
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C) Marketing emphasizes selling and advertising exclusively.
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D) Marketing involves satisfying customers' needs. r r r r
E) Marketing is building value-laden exchange relationships with customers.
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Answer: C
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AACSB: Analyticalthinking r r
Skill: Concept
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Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
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Moderate
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2) According to management guru Peter Drucker, "The aim of marketing is to
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A) maximize profits of the company r r r r
B) emphasize customer wants and not customer needs r r r r r r
C) make selling unnecessary
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D) fulfill unrealistic customer expectations
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E) sellproducts
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Answer: C
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Skill:
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Concept
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Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
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Easy
r
3) Marketing is defined as a social and managerial process by which individuals and
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organizations obtain what they need and want through
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A) research and development r r
B) innovation and creativity r r
C) manufacturing efficiencies r
D) value creation and exchange
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E) salesandrevenuecreation
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Answer: D
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AACSB: Application ofknowledge r r r
Skill: Concept
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Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
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Moderate
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3
Copyright © 2018 Pearson Education, Ltd. r r r r r
, 4) According to the five-step model of the marketing process , which of the following is the
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final step in creating value for customers ?
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A) designing a customer-driven marketing strategy r r r r
B) understanding the marketplace and customer needs r r r r r
C) constructing an integrated marketing program that delivers superior value
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D) building profitable relationships and creating customer delight
r v v v v v v
E) capturing value from customers to create profit and customer equity
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Answer: E
r r
Skill: Concept r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Moderate
r
5) According to the five-step model of the marketing process, a company should
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before designing a customer-driven marketing strategy.
r r r r r r
A) determine how to deliver superior value to customers
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B) build profitable relationships with customers
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C) use customer relationship management to create full partnerships with key customers D)
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understand
E) construct
r an ithe marketplace
ntegrated and customer
marketing program needs and wants
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Answer: D
r r
Skill: Concept r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Moderate
r
6) Marketing is managing profitable customer relationships.
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Answer: TRUE
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Skill: Concept r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
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Easy
r
7) are human needs that are shaped by culture and individual personality.
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A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
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Skill:
r
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.
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Difficulty: Easy r r
4
Copyright © 2018 Pearson Education, Ltd. r r r r r
Copyright © 2018 Pearson Education, Ltd.
r r r r r
, 2
Copyright © 2018 Pearson Education, Ltd.
r r r r r
,Principles of Marketing, 19e, Global Edition (Kotler/Armstrong)
r r r r r r
Chapter 1 Marketing: Creating Customer Value and Engagement
r r r r r r r
1) Which of the following is NOT an accurate description of modern marketing?
r r r r r r r r r v
A) Marketing is the creation of value for customers. r r r r r r r
B) Marketing involves managing profitable customer relationships.
r r r r r
C) Marketing emphasizes selling and advertising exclusively.
r v v v v v
D) Marketing involves satisfying customers' needs. r r r r
E) Marketing is building value-laden exchange relationships with customers.
r r r r r r r
Answer: C
r r
AACSB: Analyticalthinking r r
Skill: Concept
r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Moderate
r
2) According to management guru Peter Drucker, "The aim of marketing is to
r r ." r r r r r r r r r r
A) maximize profits of the company r r r r
B) emphasize customer wants and not customer needs r r r r r r
C) make selling unnecessary
r v v
D) fulfill unrealistic customer expectations
r r r
E) sellproducts
r
Answer: C
r r
Skill:
r
Concept
r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Easy
r
3) Marketing is defined as a social and managerial process by which individuals and
r r r r r r r r r r r r
organizations obtain what they need and want through
r .r r r r r r r r
A) research and development r r
B) innovation and creativity r r
C) manufacturing efficiencies r
D) value creation and exchange
r v v v
E) salesandrevenuecreation
r r r r
Answer: D
r r
AACSB: Application ofknowledge r r r
Skill: Concept
r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Moderate
r
3
Copyright © 2018 Pearson Education, Ltd. r r r r r
, 4) According to the five-step model of the marketing process , which of the following is the
r r v v v v v v r r r r r r
final step in creating value for customers ?
r r v v v v
A) designing a customer-driven marketing strategy r r r r
B) understanding the marketplace and customer needs r r r r r
C) constructing an integrated marketing program that delivers superior value
r r r r r r r r
D) building profitable relationships and creating customer delight
r v v v v v v
E) capturing value from customers to create profit and customer equity
r r r r r r r r r r
Answer: E
r r
Skill: Concept r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Moderate
r
5) According to the five-step model of the marketing process, a company should
r r r r r r r r r r r r
before designing a customer-driven marketing strategy.
r r r r r r
A) determine how to deliver superior value to customers
r r r r r r r
B) build profitable relationships with customers
r r r r
C) use customer relationship management to create full partnerships with key customers D)
r r r r r r r r r r r
understand
E) construct
r an ithe marketplace
ntegrated and customer
marketing program needs and wants
r vr v r v vr v v v
Answer: D
r r
Skill: Concept r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Moderate
r
6) Marketing is managing profitable customer relationships.
r r v v v
Answer: TRUE
r r
Skill: Concept r r
Objective: LO 1.1: Define marketing and outline the steps in the marketing process. Difficulty:
r r r r r r r r r r r r r
Easy
r
7) are human needs that are shaped by culture and individual personality.
v v r r r r r r r r
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
r r
Skill:
r
Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
r r r r r r r r r r r r
identify the five core marketplace concepts.
r r r r r r
Difficulty: Easy r r
4
Copyright © 2018 Pearson Education, Ltd. r r r r r
