Armstrong; Marketing, Fifth Canadian Edition Test Item File questions with correct answers latest update.
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Course
MKTG 716
Institution
MKTG 716
Chapter 01: Marketing: Creating and Capturing Customer Value
1. Which of the following is most essential to any definition of marketing?
demand management the production concept customer relationships making a sale
making a profit
2. Which of the following is an accurate description of mo...
fifth canadian edition test item file questions with correct answers latest update
which of the following is most essential to any definition of marketing
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Armstrong; Marketing, Fifth Canadian Edition
Test Item File
Chapter 01: Marketing: Creating and Capturing Customer Value
1. Which of the following is most essential to any definition
of marketing?
demand management
the production concept
customer relationships
making a sale
making a profit
2. Which of the following is an accurate description of
modern marketing today?
Marketing is the creation of products for customers.
Marketing is managing profitable customer relationships.
Selling and advertising are synonymous with marketing.
Marketing involves satisfying producers' needs first.
Marketing is used by for-profit organizations only.
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, Armstrong; Marketing, Fifth Canadian Edition
Test Item File
Answer: Marketing is managing profitable customer relationships.
3. According to management guru Peter Drucker, "The aim
of marketing is to ."
create customer demands
identify customer demands
make selling unnecessary
set realistic customer expectations
sell products
, Armstrong; Marketing, Fifth Canadian Edition
Test Item File
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.
Selling
Advertising
Bartering
Marketing
Negotiating
5. The steps of the five-step marketing process are
about understanding customers, creating customer value,
and building strong customer relationships.
first two
first three
first four
last three
last four
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3
, Armstrong; Marketing, Fifth Canadian Edition
Test Item File
6. According to the simple five-step model of the marketing
process, a company needs to before designing a
customer-driven marketing strategy.
determine how to deliver superior value
build profitable relationships with customers
use customer relationship management to create full partnerships
with key customers
understand the marketplace and customer needs and wants
construct key components of a marketing program
Answer: understand the marketplace and customer needs and wants
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