100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Testbank Principles of Marketing Kotler, 133 questions with anwsers, not linked to a specific edition $7.95   Add to cart

Exam (elaborations)

Testbank Principles of Marketing Kotler, 133 questions with anwsers, not linked to a specific edition

 21 views  0 purchase
  • Course
  • Institution
  • Book

This is a testbank from Principles of Marketing by Kotler, not linked to a specific edition. 133 questions with anwsers.

Preview 4 out of 43  pages

  • May 1, 2024
  • 43
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • Unknown
avatar-seller
lOMoARcPSD|2668334

, lOMoARcPSD|2668334




Principles of Marketing (Kotler/Armstrong)
Chapter 1 Marketing: Creating and Capturing Customer Value

1) Which of the following is NOT an accurate description of modern marketing?
A) Marketing is the creation of value for customers.
B) Marketing involves managing profitable customer
relationships. C) Marketing emphasizes selling and advertising
exclusively.
D) Marketing involves satisfying customers' needs.
E) Marketing is building value-laden exchange relationships with
customers. Answer: C
Skill: Concept
Objective: 1-1
Difficulty: Moderate

2) According to management guru Peter Drucker, "The aim of marketing is to ."
A) maximize profits of the company
B) emphasize customer wants and not customer
needs C) make selling unnecessary
D) fulfill unrealistic customer expectations
E) sell products+++
Answer: C
Skill: Concept
Objective: 1-1
Difficulty: Easy

3) 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) Research
B) Innovation
C) Manufacturing
D) Marketing
E) Production
Answer: D
Skill: Concept
Objective: 1-1
Difficulty: Easy

, lOMoARcPSD|2668334




4) According to the five-step model of the marketing process, which of the following is the final
step in creating value for customers?
A) designing a customer-driven marketing strategy
B) understanding the marketplace and customer needs
C) constructing an integrated marketing program that delivers superior value
D) building profitable relationships and creating customer delight
E) capturing value from customers to create profit and customer equity
Answer: D
Skill: Concept
Objective: 1-1
Difficulty: Easy

5) According to the five-step model of the marketing process, a company should
before designing a customer-driven marketing strategy.
A) determine how to deliver superior value to customers
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 an integrated marketing program
Answer: D
Skill: Concept
Objective: 1-1
Difficulty: Easy

6) are human needs that are shaped by culture and individual personality.
A) Necessities
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
Skill: Concept
Objective: 1-2
Difficulty: Easy

7) When backed by buying power, wants become .
A) social
needs B)
demands
C) physical needs
D) self-esteem needs
E) exchanges
Answer: B
Skill: Concept
Objective: 1-2

, lOMoARcPSD|2668334




Difficulty: Easy

8) A is some combination of products, services, information, or experiences provided
to consumers to satisfy a need or want.
A) market offering
B) value proposition
C) brand positioning
D) market segment
E) market mix
Answer: A
Skill: Concept
Objective: 1-2
Difficulty: Easy

9) Which of the following terms refers to sellers being preoccupied with their own products
and losing sight of underlying consumer needs?
A) vendor lock-in
B) social loafing
C) value proposition
D) marketing myopia
E) conspicuous consumption
Answer: D
Skill: Concept
Objective: 1-2
Difficulty: Moderate

10) When marketers set low expectations for a market offering, they run the risk of .
A) disappointing loyal customers
B) having to use an outside-in rather than an inside-out perspective
C) failing to attract enough customers
D) failing to understand their customers' needs
E) incorrectly identifying a target
market Answer: C
Skill: Concept
Objective: 1-2
Difficulty: Easy

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Scriptiebibliotheek. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.95. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82215 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.95
  • (0)
  Add to cart