Kotler / Armstrong 11e, Chapter 1
Marketing is _____.
1.another word for advertising and sales
2.only used by major corporations
3.about satisfying customer needs
4.about simply making a profit
Kotler / Armstrong 11e, Chapter 1
Marketing is _____.
1.another word for advertising and sales
2.only used by major corporations
3.about satisfying customer needs
4.about simply making a profit
Kotler / Armstrong 11e, Chapter 1
The first step in the marketing process is to work
to understand customers.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
The first step in the marketing process is to work
to understand customers.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
Once we have created value for customers, the
final step in the marketing process is to
capture value from them.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
Once we have created value for customers, the
final step in the marketing process is to
capture value from them.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
The most basic concept underlying marketing is
that of _____.
1.profits
2.products
3.human needs
4.services
Kotler / Armstrong 11e, Chapter 1
The most basic concept underlying marketing is
that of _____.
1.profits
2.products
3.human needs
4.services
Kotler / Armstrong 11e, Chapter 1
Marketers create social needs in consumers.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
Marketers create social needs in consumers.
1.True
2.False (Marketers do not create customer
needs, whether social, physical or
individual. Needs are a basic part of the
human makeup.)
Kotler / Armstrong 11e, Chapter 1
The act of obtaining a desired object from
someone by offering something in return is
called a(n) _____.
1.exchange
2.switch
3.market
4.sale
Kotler / Armstrong 11e, Chapter 1
The act of obtaining a desired object from
someone by offering something in return is
called a(n) _____.
1.exchange
2.switch
3.market
4.sale
Kotler / Armstrong 11e, Chapter 1
The art and science of choosing target markets
and building profitable relationships with them
is called _____.
1.marketing profiles
2.marketing maneuvers
3.marketing selection
4.marketing management
Kotler / Armstrong 11e, Chapter 1
The art and science of choosing target markets
and building profitable relationships with them
is called _____.
1.marketing profiles
2.marketing maneuvers
3.marketing selection
4.marketing management
Kotler / Armstrong 11e, Chapter 1
Which marketing philosophy listed below is
useful when supply exceeds demand and
when production costs are too high and need
to be reduced?
1.production concept
2.product concept
3.selling concept
4.marketing concept
Kotler / Armstrong 11e, Chapter 1
Which marketing philosophy listed below is
useful when supply exceeds demand and
when production costs are too high and need
to be reduced?
1.production concept
2.product concept
3.selling concept
4.marketing concept
Kotler / Armstrong 11e, Chapter 1
Which marketing philosophy believes that an
organization can achieve its goals if it knows
the needs of its target market well and delivers
satisfaction better than its competition?
1.production concept
2.product concept
3.selling concept
4.marketing concept
Kotler / Armstrong 11e, Chapter 1
Which marketing philosophy believes that an
organization can achieve its goals if it knows
the needs of its target market well and delivers
satisfaction better than its competition?
1.production concept
2.product concept
3.selling concept
4.marketing concept
Kotler / Armstrong 11e, Chapter 1
Customer relationship management (CRM) is
solely about acquiring and keeping customers.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
Customer relationship management (CRM) is
solely about acquiring and keeping customers.
1.True
2.False (CRM is about acquiring, keeping and
growing customers.)
Kotler / Armstrong 11e, Chapter 1
To build lasting customer relationships, firms
should focus on delivering _____ and _____.
1.high quality products; low prices
2.customer value; customer satisfaction
3.customer satisfaction; customer growth
4.customer value; high profits
Kotler / Armstrong 11e, Chapter 1
To build lasting customer relationships, firms
should focus on delivering _____ and _____.
1.high quality products; low prices
2.customer value; customer satisfaction
3.customer satisfaction; customer growth
4.customer value; high profits
Kotler / Armstrong 11e, Chapter 1
It costs 5 to 10 times more to find a new
customer than to keep a current one happy.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
It costs 5 to 10 times more to find a new
customer than to keep a current one happy.
1.True (Due to changing demographics, more
competition, and overcapacity in many
industries, the cost of finding new
customers is rising.)
2.False
Kotler / Armstrong 11e, Chapter 1
The aim of customer relationship management is
to _____.
1.create customer satisfaction
2.create customer profits
3.create customer delight
4.create customer longing
Kotler / Armstrong 11e, Chapter 1
The aim of customer relationship management is
to _____.
1.create customer satisfaction
2.create customer profits
3.create customer delight
4.create customer longing
Kotler / Armstrong 11e, Chapter 1
The portion of the customer’s purchasing power
that a company gets in its product categories
is called its _____.
1.customer equity
2.share of customer
3.customer quotient
4.customer lifetime value
Kotler / Armstrong 11e, Chapter 1
The portion of the customer’s purchasing power
that a company gets in its product categories
is called its _____.
1.customer equity
2.share of customer
3.customer quotient
4.customer lifetime value
Kotler / Armstrong 11e, Chapter 1
Customers that are a good fit between a
company’s offerings and that are expected to
be loyal over the long term are called _____.
1.butterflies
2.barnacles
3.true friends
4.strangers
Kotler / Armstrong 11e, Chapter 1
Customers that are a good fit between a
company’s offerings and that are expected to
be loyal over the long term are called _____.
1.butterflies
2.barnacles
3.true friends
4.strangers
Kotler / Armstrong 11e, Chapter 1
The most dramatic new technology is the
Internet.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
The most dramatic new technology is the
Internet.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
The _____ is the nation’s 24th largest advertiser
with an annual budget of over $1 billion.
1.Procter and Gamble Co.
2.Boeing Co.
3.Levi Strauss Co.
4.U.S. Government
Kotler / Armstrong 11e, Chapter 1
The _____ is the nation’s 24th largest advertiser
with an annual budget of over $1 billion.
1.Procter and Gamble Co.
2.Boeing Co.
3.Levi Strauss Co.
4.U.S. Government
Kotler / Armstrong 11e, Chapter 1
Which of the first four steps of the marketing
process asks, “What consumers will we
serve?” and “How can we best serve targeted
customers?”
1.Step 1: Understanding the marketplace
2.Step 2: Designing the marketing strategy
3.Step 3: Constructing the marketing program
4.Step 4: Building profitable relationships with
customers
Kotler / Armstrong 11e, Chapter 1
Which of the first four steps of the marketing
process asks, “What consumers will we
serve?” and “How can we best serve targeted
customers?”
1.Step 1: Understanding the marketplace
2.Step 2: Designing the marketing strategy
3.Step 3: Constructing the marketing program
4.Step 4: Building profitable relationships with
customers
Kotler / Armstrong 11e, Chapter 1
Which step of the marketing process is the most
important?
1.Step 1: Understanding the marketplace
2.Step 2: Designing the marketing strategy
3.Step 3: Constructing the marketing program
4.Step 4: Building profitable relationships with
customers
Kotler / Armstrong 11e, Chapter 1
Which step of the marketing process is the most
important?
1.Step 1: Understanding the marketplace
2.Step 2: Designing the marketing strategy
3.Step 3: Constructing the marketing program
4.Step 4: Building profitable relationships with
customers
Kotler / Armstrong 11e, Chapter 1
In addition to delighting customers, companies
today must also harness technology, think
globally and be ethically and socially
responsible.
1.True
2.False
Kotler / Armstrong 11e, Chapter 1
In addition to delighting customers, companies
today must also harness technology, think
globally and be ethically and socially
responsible.
1.True
2.False