100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank for Principles of Marketing 17th Edition By Kotler Armstrong (2024) | All Chapter’s Covered | Complete Guide A+ $12.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. TB + SM
  4.  
  5. TB + SM

Exam (elaborations)

Test Bank for Principles of Marketing 17th Edition By Kotler Armstrong (2024) | All Chapter’s Covered | Complete Guide A+
 0 purchase
  • Course
  • TB + SM
  • Institution
  • TB + SM
  • Book
  • Principles of Marketing

Test Bank for Principles of Marketing 17th Edition By Kotler Armstrong (2024) | All Chapter’s Covered | Complete Guide A+

Preview 4 out of 1035  pages

Document information

  • October 27, 2024
  • 1035
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • test
  • bank
  • for
  • principles
  • marketing
  • 17th
  • edition
  • kotler
  • armstrong
  • all
  • chapters
  • 2024
  • latest
  • verified
  • 978 0134492513
  • updated
  • complete
  • guide
  • of
  • by

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Test Bank for Principles of Marketing 17th Edition Kotler All Chapters 1 - 20 Fully Covered A+ Guide Complete 2025 Edition ISBN:9780134492513 Newest Version
  • Test Bank for Principles of Marketing 17th Edition Kotler All Chapters 1 - 20 Full Complete 2024 Latest Newest Version Complete Solutions 9780134492513
  • Complete Test Bank Principles of Marketing 17th Edition Kotler Questions & Answers with rationales (Chapter 1-20)
All for this textbook (4)

Written for

  • TB + SM
All documents for this subject (1)

Seller

avatar-seller
TestsBanks

Reviews received

Content preview

Created By : TestsBanks



Test Bank for Principles of Marketing 17th Edition By Kotler
Armstrong (2024) | All Chapter’s Covered | Complete Guide A+

Chapter 1 Marketing: Creating Customer Value and Engagement

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
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
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: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy

3) Marketing is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through ________.
A) research and development
B) innovation and creativity
C) manufacturing efficiencies
D) value creation and exchange
E) sales and revenue creation



Page | 1

,Created By : TestsBanks


Answer: D
AACSB: Application of knowledge
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate

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: E
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate

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: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Moderate

6) Marketing is managing profitable customer relationships.
Answer: TRUE
Skill: Concept
Objective: LO 1.1: Define marketing and outline the steps in the marketing process.
Difficulty: Easy




Page | 2

,Created By : TestsBanks


7) ________ 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: LO 1.2: Explain the importance of understanding the marketplace and
customers and identify the five core marketplace concepts.
Difficulty: Easy

8) 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: LO 1.2: Explain the importance of understanding the marketplace and
customers and identify the five core marketplace concepts.
Difficulty: Easy

9) Needs include all of the following EXCEPT ________.
A) food
B) knowledge
C) affection
D) the newest iphone
E) belonging

Answer: D
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and
customers and identify the five core marketplace concepts.
Difficulty: Easy




Page | 3

, Created By : TestsBanks


10) Greg Williams now has the buying power to purchase the desktop computer that he
has wanted for the last six months. Greg's want now has become a(n) ________.
A) need
B) necessity
C) demand
D) exchange
E) transaction

Answer: C
AACSB: Analytical thinking
Skill: Application
Objective: LO 1.2: Explain the importance of understanding the marketplace and
customers and identify the five core marketplace concepts.
Difficulty: Moderate

11) 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
AACSB: Analytical thinking
Skill: Concept
Objective: LO 1.2: Explain the importance of understanding the marketplace and
customers and identify the five core marketplace concepts.
Difficulty: Easy

12) 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



Page | 4

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 TestsBanks. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64302 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(3)

Louisiana Class D Chauffeur's License Test | 55 Questions with 100% Correct Answers | Verified | Latest Update 2024

Exam (elaborations) ·

(0)

CS/MATH 1019 Discrete Math for Computer Science MATH 1019 Final Assignment Questions with Verified Solutions

Exam (elaborations) ·

(0)

ECON 1951 - Principles of Macroeconomics final exam questions and answers complete Thompson Rivers University

Exam (elaborations) ·

(0)

Test Bank for Pharmacology for Nurses: A Pathophysiologic Approach 6th Edition (Adams, 2020), Chapter 1-50 | All Chapters

Exam (elaborations) ·

(0)

ATI RN Medical-Surgical Proctored Exam 2019 Retake Correct questions and answers LATEST UPDATED 2023/2024 (100Q&A)

Exam (elaborations) ·

(0)

Exam (elaborations) TEST BANK LEADERSHIP ROLES AND MANAGEMENT FUNCTIONS IN NURSING 10TH EDITION MARQUIS HUSTON

Exam (elaborations) ·

(0)

NURS-6512N-34: Advanced Health Assessment (Updated Version) | 2023 Version | All Questions with 100% Correct Answers

Exam (elaborations) ·

(0)

Test Bank For The Human Body in Health and Disease 8th Edition by Patton||ISBN NO-||ISBN NO-||All Chapters Covered

Exam (elaborations) ·

(0)

Ati Teas, ATI TEAS: Science|Ati Teas, ATI TEAS: Science 2023 Question Bank | Over 800 Questions And Correct Answers

$12.99
  • (0)
Add to cart
Added