Part 1. Understanding Marketing Management 1. Defining Marketing for the New Realities 2. Developing Marketing Strategies and Plans Part 2. Capturing Marketing Insights 3. Collecting Information and Forecasting Demand 4. Conducting Marketing Research Part 3. Connecting with Customers 5. Creating Lo...
Marketing Management, 15e (Kotler)
Chapter 1 Defining Marketing for the New Realities
1) Which of the following statements about marketing is true? A)
It is of little importance when products are standardized.
M
B) It can help create jobs in the economy by increasing demand for goods and services.
C) It helps to build a loyal customer base but has no impact on a firm's intangible assets.
D) It is more important for bigger organizations than smaller ones.
ED
E) It is seldom used by nonprofit organizations.
Answer: B
Diff: 1
LO: 1.1: Why is marketing important?
AACSB: Reflective thinking
C
2) A marketer's only concern is how best to create demand for a new product produced by his/her
company. Improving product design is not his/her responsibility.
O
Answer: FALSE
Diff: 1
LO: 1.1: Why is marketing important?
N
AACSB: Reflective thinking
N
O
IS
SE
U
R
, 3) management is the art and science of choosing target markets and getting, keeping,
and growing customers through creating, delivering, and communicating superior customer
value.
A) Marketing
B) Knowledge
M
C) Operations
D) Strategic
E) Distribution
ED
Answer: A
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
4) Identify the correct statement about marketing management.
C
A) It is primarily concerned with the systematic gathering, recording, and analysis of data about
issues related to marketing products and services.
O
B) It focuses mostly on monitoring the profitability of a company's products and services.
C) It focuses solely on attaining an organization's sales goals in an efficient manner.
D) It is defined as the field that deals with planning and managing a business at the highest level
N
of corporate hierarchy.
E) It occurs when at least one party to a potential exchange thinks about the means of achieving
desired responses from other parties.
N
Answer: E
Diff: 2
LO: 1.2: What is the scope of marketing?
O
AACSB: Reflective thinking
5) A social definition of marketing says _.
IS
A) effective marketing requires companies to remove intermediaries to achieve a closer
connection with direct consumers
B) a company should focus exclusively on achieving high production efficiency, low costs,
and mass distribution to facilitate the broadest possible access to the company's products
SE
C) marketing is the process by which individuals and groups obtain what they need and
want through creating, offering, and freely exchanging products and services of value with
others D) marketing is the process of extracting the maximum value from consumers to facilitate
corporate growth
E) marketing is the process of aggressive selling and promotion to encourage the purchase of
U
products that might otherwise be unsought by the consumer
Answer: C
Diff: 1
R
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
6) goods constitute the bulk of most countries' production and marketing efforts.
, A) Durable
B) Impulse
C) Physical
D) Luxury
E) Intangible
M
Answer: C
Diff: 1
LO: 1.2: What is the scope of marketing?
ED
AACSB: Reflective thinking
7) As economies advance, a growing proportion of the economy's activities focuses on the
production of .
A) products
C
B) events
C) experiences
D) luxury goods
O
E) services
Answer: E
Diff: 2
N
LO: 1.2: What is the scope of marketing?
AACSB: Reflective thinking
N
8) Car rental firms, hair dressers, and management consultants provide .
A) goods
B) experiences
O
C) events
D) services
IS
E) information
Answer: D
Diff: 1
LO: 1.2: What is the scope of marketing?
SE
AACSB: Analytical thinking; Application of knowledge
9) Soccer's World Cup is promoted aggressively to both companies and fans. This is an example
of marketing a(n) .
A) idea
U
B) place
C) luxury item
D) event
R
E) service
Answer: D
Diff: 2
LO: 1.2: What is the scope of marketing?
, AACSB: Application of knowledge
10) The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and
its multicultural society in order to attract tourists is an example of marketing. A)
event
M
B) property
C) service
D) place
ED
E) idea
Answer: D
Diff: 2
LO: 1.2: What is the scope of marketing?
AACSB: Analytical thinking; Application of knowledge
C
11) In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even
a haunted house. Disney is marketing a(n) .
O
A) experience
B) service
C) event
N
D) organization
E) good
Answer: A
N
Diff: 1
LO: 1.2: What is the scope of marketing?
AACSB: Analytical thinking; Application of knowledge
O
12) Janet is very upset that she can't get tickets to the Rolling Stones concert because they are
sold out. Which of the following demand states applies to Janet's situation?
IS
A) nonexistent demand
B) latent demand
C) full demand
SE
D) unwholesome demand
E) overfull demand
Answer: E
Diff: 2
LO: 1.2: What is the scope of marketing?
U
AACSB: Analytical thinking; Application of knowledge
13) Sales of woolen clothing usually increase during the winter season and decline thereafter.
R
This is an example of demand.
A) irregular
B) declining
C) impulse
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