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
1
Copyright © 2018 Pearson Education, Ltd.
,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.
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
2
Copyright © 2018 Pearson Education, Ltd.
, 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) transaction
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
3
Copyright © 2018 Pearson Education, Ltd.
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
1
Copyright © 2018 Pearson Education, Ltd.
,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.
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
2
Copyright © 2018 Pearson Education, Ltd.
, 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) transaction
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
3
Copyright © 2018 Pearson Education, Ltd.
