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Marketing Defined Explained Applied 2nd Edition by Michael P Levens -Test Bank
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,Marketing Defined, Explained, Applied, 2e (Levens)Chapter 1 The Meaning of Marketing
1) ________ is an organizational function and a collection of processes designed to plan for,
create, communicate, and deliver value to customers.
A) Selling
B) Advertising
C) Bartering
D) Marketing
E) Negotiating
Answer: D
Diff: 1 Page Ref: 3
AACSB: Communication abilities
Skill: Concept
Objective: 1-1
2) A company achieves ________ for itself by creating value for customers.
A) utility
B) needs
C) profits
D) a brand
E) a marketing concept
Answer: C
Diff: 2 Page Ref: 3
Skill: Concept
Objective: 1-1
3) A for-profit firm delivers ________ in exchange for money from consumers.
A) demand
B) value
C) perceived need
D) perceived want
E) need
Answer: B
Diff: 2 Page Ref: 3
Skill: Concept
Objective: 1-1
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Copyright © 2012 Pearson Education, Inc.
,4) According to your text, modern marketing has its roots in all BUT which of the following?
A) anthropology
B) economics
C) psychology
D) sociology
E) statistics
Answer: A
Diff: 3 Page Ref: 3
Skill: Concept
Objective: 1-1
5) Which of the following is the satisfaction received from owning or consuming a product or
service?
A) utility
B) demand
C) valuation
D) want
E) equity
Answer: A
Diff: 1 Page Ref: 3
Skill: Concept
Objective: 1-1
6) Which of the following is most likely to happen when a consumer does not perceive that a
product has utility?
A) The customer will not buy the product.
B) The customer will research the product before buying it.
C) The customer will buy the product without conducting research.
D) The customer will have a perceived need for the product.
E) The customer will not be influenced by marketing.
Answer: A
Diff: 3 Page Ref: 3
Skill: Concept
Objective: 1-1
7) ________ are necessities to meet urgent requirements.
A) Needs
B) Wants
C) Demands
D) Utilities
E) Equities
Answer: A
Diff: 1 Page Ref: 3
Skill: Concept
Objective: 1-1
2
Copyright © 2012 Pearson Education, Inc.
, 8) ________ are desires for things that are not essential.
A) Needs
B) Wants
C) Demands
D) Values
E) Equities
Answer: B
Diff: 1 Page Ref: 3
Skill: Concept
Objective: 1-1
9) ________ is an individual's financial capacity to buy what she wants.
A) Value
B) Demand
C) Social need
D) Utility
E) Exchange
Answer: B
Diff: 1 Page Ref: 3
Skill: Concept
Objective: 1-1
10) A ________ is a promise to deliver to a consumer specific benefits associated with a product
or service.
A) brand
B) perceived need
C) demand
D) value
E) utility
Answer: A
Diff: 1 Page Ref: 3
Skill: Concept
Objective: 1-1
11) Which of the following groups is the ultimate judge of a product's utility?
A) marketers
B) management
C) consumers
D) suppliers
E) government agencies
Answer: C
Diff: 3 Page Ref: 3
Skill: Concept
Objective: 1-1
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Copyright © 2012 Pearson Education, Inc.
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