TESTBANK FOR PRINCIPLES OF MARKETING, 14E (KOTLER) .pdf

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TESTBANK FOR PRINCIPLES OF MARKETING, 14E (KOTLER)




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Principles of Marketing, 14e (Kotler)
Chapter 1 Marketing: Creating and Capturing Customer Value


1) All of the following are accurate descriptions of modern marketing EXCEPT
which one? A) Marketing is the creation of value for customers.
B) Marketing is managing profitable customer relationships.

C) Selling and advertising are synonymous with marketing.

D) Marketing involves satisfying customers' needs.

E) Marketing is used by for-profit and not-for-profit organizations.

Answer ✅: C
Diff: 2 Page Ref: 4-5
Skill: Concept
Objective: 1-1


2) According to management guru Peter Drucker, "The aim of marketing is to
________."
A) create customer value

B) identify customer demands

C) make selling unnecessary

D) set realistic customer expectations

E) sell products

Answer ✅: C
Diff: 2 Page Ref: 5
Skill: Concept
Objective: 1-1




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3) ________ is defined as a social and managerial process by which individuals
and organizations obtain what they need and want through value creation and
exchange.
A) Selling

B) Advertising

C) Bartering

D) Marketing

E) Negotiating

Answer ✅: D
Diff: 2 Page Ref: 5
Skill: Concept
Objective: 1-1


4) Which steps of the five-step marketing process are about understanding
customers, creating customer value, and building strong customer relationships?
A) the first two only

B) the first three only

C) the first four only

D) the last three only

E) the last four only

Answer ✅: C
Diff: 2 Page Ref: 5
Skill: Concept
Objective: 1-1
5) According to the simple five-step model of the marketing process, a company
needs to ________ before designing a customer-driven marketing strategy.




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A) determine how to deliver superior value

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 key components of a marketing program

Answer ✅: D
Diff: 2 Page Ref: 5
Skill: Concept
Objective: 1-1


6) ________ are human needs as shaped by individual personality and culture.
A) Needs

B) Wants

C) Demands

D) Values

E) Exchanges

Answer ✅: B
Diff: 1 Page Ref: 6
Skill: Concept
Objective: 1-2


7) When backed by buying power, wants become ________.
A) social needs

B) demands

C) physical needs




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