Test Bank For Marketing An introduction 6th Canadian Edition

Test Bank For Marketing An introduction 6th Canadian Edition

Marketing: An Introduction, 6e (Armstrong et al.)

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

Answer: C

Diff: 1 Type: MC Page Ref: 5

Skill: Concept

Objective: 1-1

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.

Answer: B

Diff: 1 Type: MC Page Ref: 5

Skill: Concept

Objective: 1-1

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

Answer: C

Diff: 1 Type: MC Page Ref: 6

Skill: Concept

Objective: 1-1

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

Diff: 2 Type: MC Page Ref: 6

Skill: Concept

Objective: 1-1

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

Answer: C

Diff: 2 Type: MC Page Ref: 7

Skill: Concept

Objective: 1-2

6) According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy.

A) determine how to deliver superior value

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 key components of a marketing program

Answer: D

Diff: 1 Type: MC Page Ref: 7

Skill: Concept

Objective: 1-2

7) ________ are human needs as shaped by individual personality and culture.

A) Deprivations

B) Wants

C) Demands

D) Values

E) Exchanges

Answer: B

Diff: 1 Type: MC Page Ref: 7

Skill: Concept

Objective: 1-2

8) When backed by buying power, wants become ________.

A) social needs

B) demands

C) physical needs

D) self-esteem needs

E) exchanges

Answer: B

Diff: 1 Type: MC Page Ref: 7

Skill: Concept

Objective: 1-2

9) Which of the following best encompasses market offerings?

A) products

B) people, places, and ideas

C) products and information

D) products and experiences

E) persons, places, organizations, information, and ideas

Answer: E

Diff: 1 Type: MC Page Ref: 8

Skill: Concept

Objective: 1-2

10) ________ refers to sellers that pay more attention to their own products than to the benefits and experiences produced by these products.

A) Selling myopia

B) Marketing management

C) Value proposition

D) Marketing myopia

E) The product concept