TEST BANK For Principles of Marketing 19e Global Edition By Kotler, Armstrong, Balasubramanian, Verified Chapters 1 - 20, Complete Newest Version

PrinciplesloflMarketing,l17e,lGloballEditionl(Kotler/Armstrong)lChapter
l1l Marketing:lCreatinglCustomerlValuelandlEngagement




1) WhichloflthelfollowinglislNOTlanlaccurateldescriptionloflmodernlmarketing?
A) Marketinglislthelcreationloflvaluelforlcustomers.
B) Marketinglinvolveslmanaginglprofitablelcustomerlrelationships.
C) Marketinglemphasizeslsellinglandladvertisinglexclusively.
D) Marketinglinvolveslsatisfyinglcustomers'lneeds.
E) Marketinglislbuildinglvalue-
ladenlexchangelrelationshipslwithlcustomers.lAnswer:l C
AACSB:lAnalyticallthinkingl
Skill:l Concept
Objective:l LOl1.1:lDefinelmarketinglandloutlinelthelstepslinlthelmarketinglprocess.lDifficulty:l
Moderate

2) AccordingltolmanagementlgurulPeterlDrucker,l"Thelaimloflmarketinglislto ."
A) maximizelprofitsloflthelcompany
B) emphasizelcustomerlwantslandlnotlcustomerlneeds
C) makelsellinglunnecessary
D) fulfilllunrealisticlcustomerlexpectations
E) selllproductsl
Answer:lClSkill
:l Concept
Objective:l LOl1.1:lDefinelmarketinglandloutlinelthelstepslinlthelmarketinglprocess.lDifficulty:l E
asy

3) Marketinglisldefinedlaslalsociallandlmanageriallprocesslbylwhichlindividualslandlorg
anizationslobtainlwhatltheylneedlandlwantlthrough .
A) researchlandldevelopment
B) innovationlandlcreativity
C) manufacturinglefficiencies
D) valuelcreationlandlexchange
E) saleslandlrevenuelcreationl
Answer:l D
AACSB:l Applicationloflknowledgel
Skill:l Concept
Objective:l LOl1.1:lDefinelmarketinglandloutlinelthelstepslinlthelmarketinglprocess.lDifficulty:l
Moderate




1
Copyrightl©l2018lPearsonlEducation,lLtd.

,4) Accordingltolthelfive-
steplmodelloflthelmarketinglprocess,lwhichloflthelfollowinglislthelfinallsteplinlcreatinglvaluelfor
lcustomers?

A) designinglalcustomer-drivenlmarketinglstrategy
B) understandinglthelmarketplacelandlcustomerlneeds
C) constructinglanlintegratedlmarketinglprogramlthatldeliverslsuperiorlvalue
D) buildinglprofitablelrelationshipslandlcreatinglcustomerldelight
E) capturinglvaluelfromlcustomersltolcreatelprofitlandlcustomerlequitylA
nswer:l E
Skill:l Concept
Objective:l LOl1.1:lDefinelmarketinglandloutlinelthelstepslinlthelmarketinglprocess.lDifficulty:l
Moderate

5) Accordingltolthelfive-steplmodelloflthelmarketinglprocess,lalcompanylshouldll
beforeldesigninglalcustomer-drivenlmarketinglstrategy.
A) determinelhowltoldeliverlsuperiorlvalueltolcustomers
B) buildlprofitablelrelationshipslwithlcustomers
C) uselcustomerlrelationshiplmanagementltolcreatelfulllpartnershipslwithlkeylcustomers
D) understandlthelmarketplacelandlcustomerlneedslandlwants
E) constructlanlintegratedlmarketinglprograml
Answer:l D
Skill:l Concept
Objective:l LOl1.1:lDefinelmarketinglandloutlinelthelstepslinlthelmarketinglprocess.lDifficulty:l
Moderate

6) Marketinglislmanaginglprofitablelcustomerlrelationships.l
Answer:l TRUE
Skill:l Concept
Objective:l LOl1.1:lDefinelmarketinglandloutlinelthelstepslinlthelmarketinglprocess.lDifficulty:l E
asy

7) l larelhumanlneedslthatlarelshapedlbylculturelandlindividuallpersonality.

A) Necessities
B) Wants
C) Demands
D) Values
E) Exchangesl
Answer:lBlSkil
l:l Concept
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Easy




2
Copyrightl©l2018lPearsonlEducation,lLtd.

,8) Whenlbackedlbylbuyinglpower,lwantslbecome .
A) sociallneeds
B) demands
C) physicallneeds
D) self-esteemlneeds
E) exchangesl
Answer:lBlSkil
l:l Concept
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Easy

9) NeedslincludelallloflthelfollowinglEXCEPT .
A) food
B) knowledge
C) affection
D) thelnewestliphone
E) belongingl
Answer:lDlSkil
l:l Concept
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Easy

10) GreglWilliamslnowlhaslthelbuyinglpowerltolpurchaseltheldesktoplcomputerlthatlhelhaslwan
tedlforlthellastlsixlmonths.lGreg'slwantlnowlhaslbecomela(n) .
A) need
B) necessity
C) demand
D) exchange
E) transactionl
Answer:l C
AACSB:lAnalyticallthinkingl
Skill:l Application
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Moderate




3
Copyrightl©l2018lPearsonlEducation,lLtd.

, 11) A
islsomelcombinationloflproducts,lservices,linformation,lorlexperienceslprovidedltolcon
sumersltolsatisfylalneedlorlwant.
A) marketloffering
B) valuelproposition
C) brandlpositioning
D) marketlsegment
E) marketlmixl
Answer:l A
AACSB:lAnalyticallthinkingl
Skill:l Concept
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Easy

12) Whichloflthelfollowingltermslrefersltolsellerslbeinglpreoccupiedlwithltheirlownlproductslandl
losinglsightloflunderlyinglconsumerlneeds?
A) vendorllock-in
B) sociallloafing
C) valuelproposition
D) marketinglmyopia
E) conspicuouslconsumptionl
Answer:l D
AACSB:lAnalyticallthinkingl
Skill:l Concept
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Moderate

13) Whenlmarketerslsetllowlexpectationslforlalmarketloffering,ltheylrunlthelrisklof .
A) disappointinglloyallcustomers
B) havingltoluselanloutside-inlratherlthanlanlinside-outlperspective
C) failingltolattractlenoughlcustomers
D) failingltolunderstandltheirlcustomers'lneeds
E) incorrectlylidentifyinglaltargetlmarketl
Answer:l C
Skill:l Concept
Objective:l LOl1.2:lExplainlthelimportanceloflunderstandinglthelmarketplacelandlcustomerslandlidenti
fylthelfivelcorelmarketplacelconcepts.
Difficulty:l Easy




4
Copyrightl©l2018lPearsonlEducation,lLtd.