1) All of the following are accurate descriptions of modern marketing, EXCEPT
which one?
A) Marketing is the creation of value for customers.
B) Marketing is managing profitable customer relationships.
C) Selling and advertising are synonymous with marketing.
D) Marketing involves satisfying customers' needs.
E) Marketing is used by for-profit and not-for-profit organizations.
Answer: C
Diff: 2Page Ref: 2 and 4
Skill: Concept
2) According to the opening scenario, the Tide marketing team is MOST concerned
about which of the following?
A) maintaining its brand share
B) fostering customers' emotional connections with their product
C) advertising their product's benefits
D) comparing the effectiveness of their product to other brands
E) incorporating consumer-generated marketing in the marketing mix
Answer: B
3) According to management guru Peter Drucker, "The aim of marketing is to
________."
A) create customer value
B) identify customer demands
C) make selling unnecessary
D) set realistic customer expectations
E) sell products
Answer: C
Diff: 2Page Ref: 5
Skill: Concept
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) Advertising
C) Bartering
D) Marketing
E) Negotiating
Answer: D
Diff: 2Page Ref: 5
Skill: Concept
5) Which steps of the five-step marketing process are about understanding customers,
creating customer value, and building strong customer relationships?
1
Quiz #1
Marketing Management
Section E and F
Date:__________________ Roll No:_____________________
Circle the correct option.
1) When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
2) A(n) ________ is some combination of products, services, information, or experiences offered to consumers
to satisfy a need or want.
A) market offering
B) value proposition
C) demand satisfaction
D) need proposition
E) evoked set
3) Which of the following refers to sellers being preoccupied with their own products and losing sight of
underlying consumer needs?
A) selling myopia
B) marketing management
C) value proposition
D) marketing myopia
E) the product concept
4) When marketers set low expectations for a market offering, the biggest risk they run is ________.
A) disappointing loyal customers
B) decreasing customer satisfaction
C) failing to attract enough customers
D) failing to understand their customers' needs
E) incorrectly identifying a target market
5) Consumer research, product development, communication, distribution, pricing, and service are all core
________ activities.
A) exchange
B) marketing
C) management
D) production
E) customer relationship management
6) Selecting which segments of a population of customers to serve is called ________.
A) market segmentation
B) positioning
C) customization
D) target marketing
E) managing the marketing effort