Marketing: An Introduction,
Chapter 1 Marketing: Creating and Capturing Customer Value
1) Which of the following is most essential to even the simplest definition of marketing?
A) demand management
B) the production concept
C) customer relationships
D) making a sale
E) making a profit
2) Which of the following is an accurate description of modern marketing today?
A) Marketing is the creation of products for customers.
B) Marketing is managing profitable customer relationships.
C) Selling and advertising are synonymous with marketing.
D) Marketing involves satisfying producers' needs first.
E) Marketing is used by for-profit organizations only.
3) According to management guru Peter Drucker, "The aim of marketing is to ________."
A) create customer demands
B) identify customer demands
C) make selling unnecessary
D) set realistic customer expectations
E) sell products
4) ________ is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through creating and exchanging value with
others.
A) Selling
B) Advertising
C) Bartering
D) Marketing
E) Negotiating
Answer: D
5) The ________ steps of the five-step marketing process are about understanding customers,
creating customer value, and building strong customer relationships.
A) first two
B) first three
C) first four
D) last three
E) last four
6) When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
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E) exchanges
7) A church targeting different demographic groups to increase attendance is an example of
________.
A) for-profit marketing
B) not-for-profit marketing
C) mindless marketing
D) ethics in marketing
E) societal marketing
8) The first four steps of the marketing process focus on ________.
A) understanding the market
B) delivering customer service
C) creating value for customers
D) understanding customer demands and needs
E) finding value from customers
9) Greg Williams now has the buying power to purchase the computer system he has wanted for
the last six months. Greg's want now has become a ________.
A) need
B) necessity
C) demand
D) satisfier
E) transaction
10) Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further
for increased consumer affordability. This reflects the ________.
A) product concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
11) Railroads were once operated based on the thinking that users wanted trains rather than
transportation, overlooking the challenge of other modes of transportation. This reflects the
________.
A) product concept
B) production concept
C) selling concept
D) marketing concept
E) societal marketing concept
12) Jolene's firm believes that consumers will not buy enough of its products unless the firm
undertakes a large-scale selling and promotion effort. Jolene's firm is practicing the ________.
A) production concept
B) marketing concept
C) selling concept
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D) relationship concept
E) social advertising campaign
13) The twofold goal of marketing is to attract new customers by promising superior value and to
keep and grow current customers by delivering satisfaction. T
14) When backed by buying power, needs become wants. F
15) Market offerings are limited to physical products. F
16) Market offerings can include products, services, information, or experiences offered to a
market to satisfy a need or want. T
17) When sellers focus on existing needs and lose sight of underlying customer wants, they suffer
from marketing myopia. F
18) New communication technologies create challenges as well as advantages for marketers. T
19) Consumer-generated marketing will have little impact as a marketing force. F
20) Every functional area of an organization, not only a marketing department, can and should
interact with customers. T
21) Social media spending by companies is at a maximum today. F
22) Mobile marketing is slowly taking off. F
23) Marketing, more than any other business function, deals with ________.
A) customers
B) sales
C) advertising
D) new products
E) brands
24) Amazon Prime strives to convert casual shoppers into loyal customers. An Amazon Prime
customer can be classified as a ________.
A) barnacle
B) true believer
C) stranger
D) laggard
E) butterfly
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