Test Bank for Marketing: An Introduction, 8th Canadian Edition by Gary T. Armstrong All Chapters || Complete Guide A+
5 views 0 purchase
Module
Micro Economics
Institution
Micro Economics
Test Bank Test Bank Test Bank for Marketing: An Introduction, 8ce 8th Canadian Edition by Gary T. Armstrong, Philip Kotler, Valerie Trifts, Danielle Wilson. Full Chapters (Chapter 1 to 15) are included. Marketing: Creating Consumer Value and Engagement Company and Marketing Strategy: Partnering to ...
Test Bank for Marketing: An Introduction, 8th Canadian Edition by Gary T. Armstrong
VERIFIED CHAPTERS
Marketing: An Introduction, 8Ce (Armstrong)
Chapter 1 Marketing: Creating Consumer Value and Engagement
1) Simply put, marketing is .
A) the act of selling products
B) building a recognizable and remembered brand
C) building and nurturing relationships with consumers in order to create profit for businesses
D) creating new products
Answer: C
Diff: 1 Type: MC
LO: 1-1: Define marketing and outline the steps in the marketing process.
AACSB: Application of knowledge
KA
2) Amazon, like many other successful companies, is driven by one primary objective, namely
.
A) putting the consumer experience at the centre of all that they do
B) providing shareholders with healthy returns on their investments
C) acquiring companies in order to add to its many product offerings
G
D) acquiring market share from industry leader, Walmart
Answer: A
Diff: 1 Type: MC
U
LO: 1-1: Define marketing and outline the steps in the marketing process.
AACSB: Application of knowledge
A
3) According to the five-step model of the marketing process, the first step in marketing is
.
A) capturing value from customers to create profits and customer equity
B) engaging customers, building profitable relationships, and creating customer delight
C) understanding the marketplace and consumer needs and wants
D) designing a customer-driven marketing strategy
Answer: C
Diff: 2 Type: MC
LO: 1-1: Define marketing and outline the steps in the marketing process.
AACSB: Analytical thinking
4) In recent years, marketers have leveraged various forms of social media and other
technologies to advance their primary goal of .
A) gaining favourable media attention
B) being better able to reach the customer directly, personally, and interactively
C) gathering more sales data (big data)
D) finding less expensive ways to operate thus driving higher levels of profitability
Answer: B
1
,Diff: 2 Type: MC
LO: 1-1: Define marketing and outline the steps in the marketing process.
AACSB: Analytical thinking
KA
G
U
A
2
,5) Management guru Peter Drucker stated, "The aim of marketing is to make selling
unnecessary."
Answer: TRUE
Diff: 1 Type: TF
LO: 1-1: Define marketing and outline the steps in the marketing process.
AACSB: Analytical thinking
6) What is marketing? Briefly describe the marketing process.
Answer: Marketing can be defined as the process by which companies create value for
customers and build strong customer relationships in order to capture value from customers in
return. The marketing process consists of five steps. In the first four steps, companies work to
understand consumers, create customer value, and build strong customer relationships. In the
final step, companies reap the rewards of creating superior customer value. By creating value for
consumers, they in turn capture value from consumers in the form of sales, profits, and long-term
customer equity.
Diff: 2 Type: ES
LO: 1-1: Define marketing and outline the steps in the marketing process.
AACSB: Analytical thinking
KA
7) As described in the text, the CEOs of both Airbnb and Target share a practice that they believe
makes them more capable leaders of their company. This practice involves more frequent
.
A) interviews with the media (Fortune Magazine, Wall Street Journal)
B) blog posts on how to run a company (Jeff Bullas, James Altucher)
G
C) visits to their locations (Airbnb hosts and Target stores)
D) personal vacations to ensure they get rested while enjoying time away from their role
Answer: C
U
Diff: 2 Type: MC
LO: 1-2: Explain the importance of understanding the marketplace and consumers and identify
the five core marketplace concepts.
A
AACSB: Analytical thinking
8) are defined as states of felt deprivation.
A) Needs
B) Ideas
C) Demands
D) Values
Answer: A
Diff: 1 Type: MC
LO: 1-2: Explain the importance of understanding the marketplace and consumers and identify
the five core marketplace concepts.
AACSB: Analytical thinking
3
, 9) are the form human needs take as they are shaped by culture and individual
personality.
A) Wants
B) Necessities
C) Benefits
D) Risks
Answer: A
Diff: 1 Type: MC
LO: 1-2: Explain the importance of understanding the marketplace and consumers and identify
the five core marketplace concepts.
AACSB: Analytical thinking
10) Consumers' needs and wants are fulfilled through .
A) value
B) demand
C) desire
D) market offerings
Answer: D
KA
Diff: 1 Type: MC
LO: 1-2: Explain the importance of understanding the marketplace and consumers and identify
the five core marketplace concepts.
AACSB: Analytical thinking
11) Abel now has the buying power to purchase the computer that he wanted to buy six months
G
ago. Abel's want has most likely become a .
A) need
B) value
U
C) demand
D) market offering
Answer: C
A
Diff: 3 Type: MC
LO: 1-2: Explain the importance of understanding the marketplace and consumers and identify
the five core marketplace concepts.
AACSB: Analytical thinking
12) Canadian telecommunications giant Bell has committed resources to continue its annual,
"Let's Talk" day to promote greater awareness in mental health. This is an example of a
marketing offering for a(n) .
A) product
B) exchange
C) idea
D) place
Answer: C
Diff: 2 Type: MC
LO: 1-2: Explain the importance of understanding the marketplace and consumers and identify
the five core marketplace concepts.
AACSB: Analytical thinking
4
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card for the summaries. There is no membership needed.
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 PROFDOC. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £14.16. You're not tied to anything after your purchase.
