1) All of the following are accurate descriptions of modern marketing, EXCEPT which one?
A) Selling and advertising are synonymous with
... [Show More] marketing.
B) Marketing is the creation of value for customers.
C) Marketing involves satisfying customers' needs.
D) Marketing is managing profitable customer relationships.
E) Marketing is used by for- profit and not- for- profit organizations.
2) According to the opening scenario, the Tide marketing team is MOST concerned about which of the following?
A) maintaining its brand share
B) advertising their product's benefits
C) comparing the effectiveness of their product to other brands
D) incorporating consumer- generated marketing in the marketing mix
E) fostering customers' emotional connections with their product
3) According to management guru Peter Drucker, "The aim of marketing is to ."
A) make selling unnecessary
B) create customer value
C) sell products
D) identify customer demands
E) set realistic customer expectations
4) is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange.
A) Selling
B) Negotiating
C) Bartering
D) Advertising
E) Marketing
5) Which steps of the five- step marketing process are about understanding customers, creating customer value, and building strong customer relationships?
A) the first three only
B) the first four only
C) the first two only
D) the last four only
E) the last three only
6) According to the simple five- step model of the marketing process, a company needs to before designing a customer- driven marketing strategy.
A) construct key components of a marketing program
B) build profitable relationships with customers
C) use customer relationship management to create full partnerships with key customers
D) determine how to deliver superior value
E) understand the marketplace and customer needs and wants
7) are human needs as shaped by individual personality and culture.
A) Values B) Needs C) Demands D) Wants E) Exchanges
8) When backed by buying power, wants become .
A) exchanges
B) social needs
C) physical needs
D) demands
E) self- esteem needs
9) What do companies call a set of benefits that they promise to consumers to satisfy their needs?
A) value proposition
B) demand satisfaction
C) need proposition
D) evoked set
E) market offering
10) Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
A) selling myopia
B) the product concept
C) marketing management
D) marketing myopia
E) value proposition
11) When marketers set low expectations for a market offering, the biggest risk they run is .
A) failing to attract enough customers
B) failing to understand their customers' needs
C) incorrectly identifying a target market
D) decreasing customer satisfaction
E) disappointing loyal customers
12) is the act of obtaining a desired object from someone by offering something in return
A) Exchange
B) Donation
C) Value creation
D) A value proposition
E) Bribery
13) A(n) is the set of actual and potential buyers of a product.
A) segment B) group C) audience D) market E) exchange
14) Consumer research, product development, communication, distribution, pricing, and service are all core
activities.
A) production
B) exchange
C) marketing
D) management
E) customer relationship management
15) Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers?
A) Customer evangelists will become unpaid salespersons for the service or product.
B) All customers will be delighted.
C) Customer- perceived value will increase.
D) The company will need to follow up with a demarketing campaign.
E) Not all customers will be satisfied. [Show Less]