Kotler/Keller/Cunningham/Sivaramakrishnan Marketing Management, Fourteenth Canadian Edition Chapter 1 Defining Marketing for the 21st Century

a. execution. b. research. c. tactics. d. selling. e. strategies. Answer a Diff 2 Type MC Page Reference 3 Skill General Concept 2) Marketing is both an art and a science because there is constant tension between the formulated side of marketing and the ________ side. a. behaviour b. creative c. management d. selling e. forecasting Answer b Diff 1 Type MC Page Reference 3 Skill General Concept 3) A social definition of marketing says ________. 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 companys products 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 products that might otherwise be unsought by the consumer Answer c Diff 2 Type MC Page Reference 5 Skill General Concept 4) Marketing management is a. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. b. developing marketing strategies to move the company forward. c. monitoring the profitability of the companies products and services. d. a set of processes for creating, communicating, and delivering value to customers. e. identifying and meeting human and social needs. Answer a Diff 1 Type MC Page Reference 5 Skill General Concept 5) ________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. a. Targeting b. Marketing management c. Forecasting d.