corporate, and governmental settings.### 1. **Introduction to Ethical
and Legal Issues**Ethics and law both serve as foundational principles
that guide behavior and decision-making. Ethics refers to a system of
moral principles or values that govern the conduct of individuals and
groups. These principles often help people determine what is "right" or
"wrong" in different situations. Law, on the other hand, is a system of
rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when
an individual or organization FACES a situation in which different
moral principles conflict, or where there is no clear "right" answer.
Legal issues, meanwhile, come into play when actions conflict with
established laws or legal norms. The challenge arises in balancing both
ethical and legal considerations when making decisions.### 2.
**Ethical Issues in Healthcare**Healthcare is one of the sectors where
ethical and legal issues are particularly
Solution Manual For
Principles of Marketing, 17e, Global Edition (Kotler/Armstrong)
Chapter 1-20
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.
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
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
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
1
Copyright © 2018 Pearson Education, Ltd.
,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
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
6) Marketing is managing profitable customer relationships.
TRUE
7) are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging
corporate, and governmental settings.### 1. **Introduction to Ethical and Legal Issues**Ethics and
law both serve as foundational principles that guide behavior and decision-making. Ethics refers to a
system of moral principles or values that govern the conduct of individuals and groups. These
principles often help people determine what is "right" or "wrong" in different situations. Law, on the
other hand, is a system of rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when an individual or organization
FACES a situation in which different moral principles conflict, or where there is no clear "right"
answer. Legal issues, meanwhile, come into play when actions conflict with established laws or legal
norms. The challenge arises in balancing both ethical and legal considerations when making
decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and
legal issues are particularly
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) .
2
Copyright © 2018 Pearson Education, Ltd.
,A) need
B) necessity
C) demand
D) exchange
E) transaction
11) 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
12) 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
corporate, and governmental settings.### 1. **Introduction to Ethical and Legal Issues**Ethics and
law both serve as foundational principles that guide behavior and decision-making. Ethics refers to a
system of moral principles or values that govern the conduct of individuals and groups. These
principles often help people determine what is "right" or "wrong" in different situations. Law, on the
other hand, is a system of rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when an individual or organization
FACES a situation in which different moral principles conflict, or where there is no clear "right"
answer. Legal issues, meanwhile, come into play when actions conflict with established laws or legal
norms. The challenge arises in balancing both ethical and legal considerations when making
decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and
legal issues are particularly
13) 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
14) is the act of obtaining a desired object from someone by offering something in
return.
A) Valuation
B) Exchange
C) Market offering
D) Confiscation
E) Donation
15) A(n) is the set of actual and potential buyers of a product or service.
3
Copyright © 2018 Pearson Education, Ltd.
, A) market
B) control group
C) subsidiary
D) focus group
E) audience
corporate, and governmental settings.### 1. **Introduction to Ethical and Legal Issues**Ethics and
law both serve as foundational principles that guide behavior and decision-making. Ethics refers to a
system of moral principles or values that govern the conduct of individuals and groups. These
principles often help people determine what is "right" or "wrong" in different situations. Law, on the
other hand, is a system of rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when an individual or organization
FACES a situation in which different moral principles conflict, or where there is no clear "right"
answer. Legal issues, meanwhile, come into play when actions conflict with established laws or legal
norms. The challenge arises in balancing both ethical and legal considerations when making
decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and
legal issues are particularly
16) Consumer research, product development, communication, distribution, pricing,
and service are all core activities.
A) positioning
B) marketing
C) outsourcing
D) production
E) logistics
17) When are sellers most effective?
A) when they focus more on their specific products and services
B) when they focus more on the price of their products and services
C) when they focus more on the benefits and experiences produced by their products and
services
D) when they focus more on where their products and services can be purchased
E) when they focus more on cost to produce the product or service
Refer to the scenario below to answer the following question(s).
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside
motel to a thriving year-round resort in just a few years. Atop a cliff overlooking the Maine
coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a
tremendous downturn in business during winter. "But, given the established industries in the
nearby towns, very little year-round competition, and our close proximity to Portland," Carol
added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a promotional
package designed to attract business travelers year-round. Carol's plan also involved a seasonal
promotional gimmick—to be implemented from early winter to late spring—that would attract
the same numbers as the large summer crowd. Her idea worked! During her second winter,
Carol greeted numerous business travelers—both satisfied repeat guests as well as new guests
who had been snagged by her promotional appeals.
4
Copyright © 2018 Pearson Education, Ltd.
and Legal Issues**Ethics and law both serve as foundational principles
that guide behavior and decision-making. Ethics refers to a system of
moral principles or values that govern the conduct of individuals and
groups. These principles often help people determine what is "right" or
"wrong" in different situations. Law, on the other hand, is a system of
rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when
an individual or organization FACES a situation in which different
moral principles conflict, or where there is no clear "right" answer.
Legal issues, meanwhile, come into play when actions conflict with
established laws or legal norms. The challenge arises in balancing both
ethical and legal considerations when making decisions.### 2.
**Ethical Issues in Healthcare**Healthcare is one of the sectors where
ethical and legal issues are particularly
Solution Manual For
Principles of Marketing, 17e, Global Edition (Kotler/Armstrong)
Chapter 1-20
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.
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
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
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
1
Copyright © 2018 Pearson Education, Ltd.
,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
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
6) Marketing is managing profitable customer relationships.
TRUE
7) are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging
corporate, and governmental settings.### 1. **Introduction to Ethical and Legal Issues**Ethics and
law both serve as foundational principles that guide behavior and decision-making. Ethics refers to a
system of moral principles or values that govern the conduct of individuals and groups. These
principles often help people determine what is "right" or "wrong" in different situations. Law, on the
other hand, is a system of rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when an individual or organization
FACES a situation in which different moral principles conflict, or where there is no clear "right"
answer. Legal issues, meanwhile, come into play when actions conflict with established laws or legal
norms. The challenge arises in balancing both ethical and legal considerations when making
decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and
legal issues are particularly
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) .
2
Copyright © 2018 Pearson Education, Ltd.
,A) need
B) necessity
C) demand
D) exchange
E) transaction
11) 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
12) 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
corporate, and governmental settings.### 1. **Introduction to Ethical and Legal Issues**Ethics and
law both serve as foundational principles that guide behavior and decision-making. Ethics refers to a
system of moral principles or values that govern the conduct of individuals and groups. These
principles often help people determine what is "right" or "wrong" in different situations. Law, on the
other hand, is a system of rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when an individual or organization
FACES a situation in which different moral principles conflict, or where there is no clear "right"
answer. Legal issues, meanwhile, come into play when actions conflict with established laws or legal
norms. The challenge arises in balancing both ethical and legal considerations when making
decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and
legal issues are particularly
13) 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
14) is the act of obtaining a desired object from someone by offering something in
return.
A) Valuation
B) Exchange
C) Market offering
D) Confiscation
E) Donation
15) A(n) is the set of actual and potential buyers of a product or service.
3
Copyright © 2018 Pearson Education, Ltd.
, A) market
B) control group
C) subsidiary
D) focus group
E) audience
corporate, and governmental settings.### 1. **Introduction to Ethical and Legal Issues**Ethics and
law both serve as foundational principles that guide behavior and decision-making. Ethics refers to a
system of moral principles or values that govern the conduct of individuals and groups. These
principles often help people determine what is "right" or "wrong" in different situations. Law, on the
other hand, is a system of rules that are created and enforced by institutions to regulate behavior,
ensure order, and resolve disputes.Ethical dilemmas often arise when an individual or organization
FACES a situation in which different moral principles conflict, or where there is no clear "right"
answer. Legal issues, meanwhile, come into play when actions conflict with established laws or legal
norms. The challenge arises in balancing both ethical and legal considerations when making
decisions.### 2. **Ethical Issues in Healthcare**Healthcare is one of the sectors where ethical and
legal issues are particularly
16) Consumer research, product development, communication, distribution, pricing,
and service are all core activities.
A) positioning
B) marketing
C) outsourcing
D) production
E) logistics
17) When are sellers most effective?
A) when they focus more on their specific products and services
B) when they focus more on the price of their products and services
C) when they focus more on the benefits and experiences produced by their products and
services
D) when they focus more on where their products and services can be purchased
E) when they focus more on cost to produce the product or service
Refer to the scenario below to answer the following question(s).
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside
motel to a thriving year-round resort in just a few years. Atop a cliff overlooking the Maine
coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a
tremendous downturn in business during winter. "But, given the established industries in the
nearby towns, very little year-round competition, and our close proximity to Portland," Carol
added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a promotional
package designed to attract business travelers year-round. Carol's plan also involved a seasonal
promotional gimmick—to be implemented from early winter to late spring—that would attract
the same numbers as the large summer crowd. Her idea worked! During her second winter,
Carol greeted numerous business travelers—both satisfied repeat guests as well as new guests
who had been snagged by her promotional appeals.
4
Copyright © 2018 Pearson Education, Ltd.
