"Principles of marketing" chapter 1 test bank multiple choice questions
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.-: C) Marketing emphasizes selling and advertising exclusively.
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: C) make selling unnecessary
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: D) value creation and exchange
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
, "Principles of marketing" chapter 1 test bank multiple choice questions
E) capturing value from customers to create profit and customer equity: E)
capturing value from customers to create profit and customer equity
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: D) understand the marketplace
and customer needs and wants
6. ________ are human needs that are shaped by culture and individual
personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges: B) Wants
7. When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges: B) demands
8. Needs include all of the following EXCEPT ________.
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging: D) the newest iphone
, "Principles of marketing" chapter 1 test bank multiple choice questions
9. 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: C) demand
10. A ________ is some combination of products, services, information, or
experiences provided to consumers to satisfy a need or want.
A) market offering
B) value proposition
C) brand positioning
D) market segment
E) market mix: A) market offering
11. Which of the following terms refers to sellers being preoccupied with
their own products and losing sight of underlying consumer needs?
A) vendor lock-in
B) social loafing
C) value proposition
D) marketing myopia
E) conspicuous consumption: D) marketing myopia
12. When marketers set low expectations for a market offering, they run the
risk of ________.
A) disappointing loyal customers
B) having to use an outside-in rather than an inside-out perspective
C) failing to attract enough customers
D) failing to understand their customers' needs
E) incorrectly identifying a target market: C) failing to attract enough
customers
13. ________ is the act of obtaining a desired object from someone by
offering something in return.
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.-: C) Marketing emphasizes selling and advertising exclusively.
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: C) make selling unnecessary
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: D) value creation and exchange
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
, "Principles of marketing" chapter 1 test bank multiple choice questions
E) capturing value from customers to create profit and customer equity: E)
capturing value from customers to create profit and customer equity
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: D) understand the marketplace
and customer needs and wants
6. ________ are human needs that are shaped by culture and individual
personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges: B) Wants
7. When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges: B) demands
8. Needs include all of the following EXCEPT ________.
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging: D) the newest iphone
, "Principles of marketing" chapter 1 test bank multiple choice questions
9. 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: C) demand
10. A ________ is some combination of products, services, information, or
experiences provided to consumers to satisfy a need or want.
A) market offering
B) value proposition
C) brand positioning
D) market segment
E) market mix: A) market offering
11. Which of the following terms refers to sellers being preoccupied with
their own products and losing sight of underlying consumer needs?
A) vendor lock-in
B) social loafing
C) value proposition
D) marketing myopia
E) conspicuous consumption: D) marketing myopia
12. When marketers set low expectations for a market offering, they run the
risk of ________.
A) disappointing loyal customers
B) having to use an outside-in rather than an inside-out perspective
C) failing to attract enough customers
D) failing to understand their customers' needs
E) incorrectly identifying a target market: C) failing to attract enough
customers
13. ________ is the act of obtaining a desired object from someone by
offering something in return.
