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 pronounced.
Medical professionals regularly face situations that require them to make complex decisions that not only
have life-altering consequences for patients but also raise profound moral questions. These issues
include:#### 2.1 **Patient Autonomy and Informed Consent**One of the fundamental ethical principles in
healthcare is respect for patient autonomy—the right of patients to make decisions about their own bodies
and medical treatments. This principle is enshrined in the legal concept of informed consent. Informed
consent requires healthcare providers to disclose all relevant information about the risks, benefits, and
alternatives to a medical treatment or procedure, allowing patients to make
Test Bank For
with MCQs, True/False, and Answer Key
Principles of Marketing, 17e (Kotler/Armstrong)
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.
Answer: C
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
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
Answer: C
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy
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
Answer: D
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
,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
E) capturing value from customers to create profit and customer equity
Answer: E
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
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
Answer: D
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
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
pronounced. Medical professionals regularly face situations that require them to make complex
decisions that not only have life-altering consequences for patients but also raise profound moral
questions. These issues include:#### 2.1 **Patient Autonomy and Informed Consent**One of
the fundamental ethical principles in healthcare is respect for patient autonomy—the right of
patients to make decisions about their own bodies and medical treatments. This principle is
enshrined in the legal concept of informed consent. Informed consent requires healthcare
providers to disclose all relevant information about the risks, benefits, and alternatives to a
medical treatment or procedure, allowing patients to make
6) Marketing is managing profitable customer relationships.
Answer: TRUE
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy
7) are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy
,8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
Answer: B
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy
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 pronounced.
Medical professionals regularly face situations that require them to make complex decisions that not only
have life-altering consequences for patients but also raise profound moral questions. These issues
include:#### 2.1 **Patient Autonomy and Informed Consent**One of the fundamental ethical principles in
healthcare is respect for patient autonomy—the right of patients to make decisions about their own bodies
and medical treatments. This principle is enshrined in the legal concept of informed consent. Informed
consent requires healthcare providers to disclose all relevant information about the risks, benefits, and
alternatives to a medical treatment or procedure, allowing patients to make
9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging
Answer: D
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy
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) .
A) need
B) necessity
C) demand
D) exchange
E) transaction
Answer: C
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Moderate
, 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 Answer: A
AACSB: Analytical thinking Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and identify the
five core marketplace concepts.
Difficulty: Easy
both ethical and legal considerations when making decisions.### 2. **Ethical Issues in Healthcare**Healthca
of the sectors where ethical and legal issues are particularly pronounced. Medical professionals regularly face
that require them to make complex decisions that not only have life-altering consequences for patients but als
profound moral questions. These issues include:#### 2.1 **Patient Autonomy and Informed Consent**One o
fundamental ethical principles in healthcare is respect for patient autonomy—the right of patients to make dec
about their own bodies and medical treatments. This principle is enshrined in the legal concept of informed co
Informed consent requires healthcare providers to disclose all relevant information about the risks, benefits, a
alternatives to a medical treatment or procedure, allowing patients to make
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 Answer: D
AACSB: Analytical thinking Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and identify the
five core marketplace concepts.
Difficulty: Moderate
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 Answer: C
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and identify the
five core marketplace concepts.
Difficulty: Easy
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
Healthcare**Healthcare is one of the sectors where ethical and legal issues are particularly pronounced.
Medical professionals regularly face situations that require them to make complex decisions that not only
have life-altering consequences for patients but also raise profound moral questions. These issues
include:#### 2.1 **Patient Autonomy and Informed Consent**One of the fundamental ethical principles in
healthcare is respect for patient autonomy—the right of patients to make decisions about their own bodies
and medical treatments. This principle is enshrined in the legal concept of informed consent. Informed
consent requires healthcare providers to disclose all relevant information about the risks, benefits, and
alternatives to a medical treatment or procedure, allowing patients to make
Test Bank For
with MCQs, True/False, and Answer Key
Principles of Marketing, 17e (Kotler/Armstrong)
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.
Answer: C
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
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
Answer: C
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy
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
Answer: D
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
,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
E) capturing value from customers to create profit and customer equity
Answer: E
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
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
Answer: D
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate
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
pronounced. Medical professionals regularly face situations that require them to make complex
decisions that not only have life-altering consequences for patients but also raise profound moral
questions. These issues include:#### 2.1 **Patient Autonomy and Informed Consent**One of
the fundamental ethical principles in healthcare is respect for patient autonomy—the right of
patients to make decisions about their own bodies and medical treatments. This principle is
enshrined in the legal concept of informed consent. Informed consent requires healthcare
providers to disclose all relevant information about the risks, benefits, and alternatives to a
medical treatment or procedure, allowing patients to make
6) Marketing is managing profitable customer relationships.
Answer: TRUE
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy
7) are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy
,8) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
Answer: B
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy
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 pronounced.
Medical professionals regularly face situations that require them to make complex decisions that not only
have life-altering consequences for patients but also raise profound moral questions. These issues
include:#### 2.1 **Patient Autonomy and Informed Consent**One of the fundamental ethical principles in
healthcare is respect for patient autonomy—the right of patients to make decisions about their own bodies
and medical treatments. This principle is enshrined in the legal concept of informed consent. Informed
consent requires healthcare providers to disclose all relevant information about the risks, benefits, and
alternatives to a medical treatment or procedure, allowing patients to make
9) Needs include all of the following EXCEPT .
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging
Answer: D
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Easy
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) .
A) need
B) necessity
C) demand
D) exchange
E) transaction
Answer: C
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and
identify the five core marketplace concepts.
Difficulty: Moderate
, 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 Answer: A
AACSB: Analytical thinking Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and identify the
five core marketplace concepts.
Difficulty: Easy
both ethical and legal considerations when making decisions.### 2. **Ethical Issues in Healthcare**Healthca
of the sectors where ethical and legal issues are particularly pronounced. Medical professionals regularly face
that require them to make complex decisions that not only have life-altering consequences for patients but als
profound moral questions. These issues include:#### 2.1 **Patient Autonomy and Informed Consent**One o
fundamental ethical principles in healthcare is respect for patient autonomy—the right of patients to make dec
about their own bodies and medical treatments. This principle is enshrined in the legal concept of informed co
Informed consent requires healthcare providers to disclose all relevant information about the risks, benefits, a
alternatives to a medical treatment or procedure, allowing patients to make
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 Answer: D
AACSB: Analytical thinking Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and identify the
five core marketplace concepts.
Difficulty: Moderate
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 Answer: C
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and customers and identify the
five core marketplace concepts.
Difficulty: Easy
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
