Marketing Chapter 1

Chapter 1
Marketing: Creating and Capturing Customer Value

GENERAL CONTENT: Multiple-Choice Questions

1. “Which of the following is central to any definition of marketing?” a. demand management b. transactions c. customer relationships d. making a sale e. making a profit
(c; p. 3; Easy) {AACSB: Communication}

2. All of the following are accurate descriptions of modern marketing today, except which one? f. Marketing is creation of value for customers. g. Marketing is managing profitable customer relationships. h. Selling and advertising are synonymous with marketing. i. Marketing involves satisfying customers’ needs. j. Marketing is used by for-profit and not-for-profit organizations.
(c; p. 3; Easy) {AACSB: Communication}

3. At home, at school, at work, and at the local supermarket, Americans see ________ almost everywhere they go. k. social marketing campaigns l. customer relationship management m. marketing n. brand experiences o. demand management
(c; p. 5; Moderate) {AACSB: Communication}

4. 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
(c; p. 6; Moderate) {AACSB: Communication}

5. _____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange. p. Selling q. Advertising r. Bartering s. Marketing t. Negotiating
(d; p. 6; Moderate) {AACSB: Communication}

6. The ________ steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships. a. first two b. first three c. first four d. last three e. last four
(c; p. 6; Moderate) {AACSB: Communication}

7. According to the