Complete Test Bank Principles of Marketing 17th Edition Kotler Questions & Answers with rationales (Chapter 1-20)

Principles0of0Marketing,017e,0Global0Edition0(Kotler/Armstrong)0Chapt
er010 Marketing:0Creating0Customer0Value0and0Engagement

1) Which0of0the0following0is0NOT0an0accurate0description0of0modern0marketing?
A) Marketing0is0the0creation0of0value0for0customers.
B) Marketing0involves0managing0profitable0customer0relationships.
C) Marketing0emphasizes0selling0and0advertising0exclusively.
D) Marketing0involves0satisfying0customers'0needs.
E) Marketing0is0building0value-
laden0exchange0relationships0with0customers.0Answer:0 C
AACSB:0Analytical0thinking0
Skill:0 Concept
Objective:0 LO01.1:0Define0marketing0and0outline0the0steps0in0the0marketing0process.0Difficulty
:0 Moderate

2) According0to0management0guru0Peter0Drucker,0"The0aim0of0marketing0is0to ."
A) maximize0profits0of0the0company
B) emphasize0customer0wants0and0not0customer0needs
C) make0selling0unnecessary
D) fulfill0unrealistic0customer0expectations
E) sell0products0
Answer:0C0Skil
l:0 Concept
Objective:0 LO01.1:0Define0marketing0and0outline0the0steps0in0the0marketing0process.0Difficulty
:0 Easy

3) Marketing0is0defined0as0a0social0and0managerial0process0by0which0individuals0and0o
rganizations0obtain0what0they0need0and0want0through .
A) research0and0development
B) innovation0and0creativity
C) manufacturing0efficiencies
D) value0creation0and0exchange
E) sales0and0revenue0creation0
Answer:0 D
AACSB:0 Application0of0knowledge0
Skill:0 Concept
Objective:0 LO01.1:0Define0marketing0and0outline0the0steps0in0the0marketing0process.0Difficulty
:0 Moderate




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,4) According0to0the0five-
step0model0of0the0marketing0process,0which0of0the0following0is0the0final0step0in0creating0valu
e0for0customers?
A) designing0a0customer-driven0marketing0strategy
B) understanding0the0marketplace0and0customer0needs
C) constructing0an0integrated0marketing0program0that0delivers0superior0value
D) building0profitable0relationships0and0creating0customer0delight
E) capturing0value0from0customers0to0create0profit0and0customer0equity0
Answer:0 E
Skill:0 Concept
Objective:0 LO01.1:0Define0marketing0and0outline0the0steps0in0the0marketing0process.0Difficulty
:0 Moderate

5) According0to0the0five-step0model0of0the0marketing0process,0a0company0should00
before0designing0a0customer-driven0marketing0strategy.
A) determine0how0to0deliver0superior0value0to0customers
B) build0profitable0relationships0with0customers
C) use0customer0relationship0management0to0create0full0partnerships0with0key0customers
D) understand0the0marketplace0and0customer0needs0and0wants
E) construct0an0integrated0marketing0program0
Answer:0 D
Skill:0 Concept
Objective:0 LO01.1:0Define0marketing0and0outline0the0steps0in0the0marketing0process.0Difficulty
:0 Moderate

6) Marketing0is0managing0profitable0customer0relationships.0
Answer:0 TRUE
Skill:0 Concept
Objective:0 LO01.1:0Define0marketing0and0outline0the0steps0in0the0marketing0process.0Difficulty
:0 Easy

7) 0 0are0human0needs0that0are0shaped0by0culture0and0individual0personality.

A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges0
Answer:0B0Ski
ll:0 Concept
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Easy




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,8) When0backed0by0buying0power,0wants0become .
A) social0needs
B) demands
C) physical0needs
D) self-esteem0needs
E) exchanges0
Answer:0B0Ski
ll:0 Concept
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Easy

9) Needs0include0all0of0the0following0EXCEPT .
A) food
B) knowledge
C) affection
D) the0newest0iphone
E) belonging0
Answer:0D0Ski
ll:0 Concept
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Easy

10) Greg0Williams0now0has0the0buying0power0to0purchase0the0desktop0computer0that0he0has0
wanted0for0the0last0six0months.0Greg's0want0now0has0become0a(n) .
A) need
B) necessity
C) demand
D) exchange
E) transaction0
Answer:0 C
AACSB:0Analytical0thinking0
Skill:0 Application
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Moderate




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, 11) A
is0some0combination0of0products,0services,0information,0or0experiences0provided0to0c
onsumers0to0satisfy0a0need0or0want.
A) market0offering
B) value0proposition
C) brand0positioning
D) market0segment
E) market0mix0
Answer:0 A
AACSB:0Analytical0thinking0
Skill:0 Concept
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Easy

12) Which0of0the0following0terms0refers0to0sellers0being0preoccupied0with0their0own0products0a
nd0losing0sight0of0underlying0consumer0needs?
A) vendor0lock-in
B) social0loafing
C) value0proposition
D) marketing0myopia
E) conspicuous0consumption0
Answer:0 D
AACSB:0Analytical0thinking0
Skill:0 Concept
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Moderate

13) When0marketers0set0low0expectations0for0a0market0offering,0they0run0the0risk0of .
A) disappointing0loyal0customers
B) having0to0use0an0outside-in0rather0than0an0inside-out0perspective
C) failing0to0attract0enough0customers
D) failing0to0understand0their0customers'0needs
E) incorrectly0identifying0a0target0market0
Answer:0 C
Skill:0 Concept
Objective:0 LO01.2:0Explain0the0importance0of0understanding0the0marketplace0and0customers0and0ide
ntify0the0five0core0marketplace0concepts.
Difficulty:0 Easy




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