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ACCOUNTING 318Marketing-an-Introduction-Armstrong-11th-Edition-Test-Bank
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Marketing-an-Introduction-Armstrong-11th-Edition-Test-BankMarketing: An Introduction, 11e (Armstrong)
Chapter 1 Marketing: Creating and Capturing Customer Value
1) is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through creating and exchanging value
with others.
A) Value reengineering
B) Human resource management
C) Financing
D) Marketing
E) Root cause
analysis Answer: D
Page Ref: 5
Difficulty: Easy
Chapter LO: 1
Course LO: Discuss the fundamental concepts of marketing
2) The first step in the marketing process is .
A) capturing value from customers to create profits and customer equity
B) constructing an integrated marketing program that delivers superior value
C) building profitable relationships and creating customer delight
D) understanding the marketplace and customer needs and wants
E) designing a customer-driven marketing strategy
Answer: D
Page Ref: 6
Difficulty: Moderate
Chapter LO: 1
Course LO: Discuss the fundamental concepts of marketing
3) are states of felt deprivation.
A) Needs
B) Desires
C) Demands
D) Values
E) Exchanges
Answer: A
Page Ref: 6
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
Marketing An Introduction Armstrong 11th Edition Test Bank
,Marketing-an-Introduction-Armstrong-11th-Edition-Test-Bank
4) are human needs as shaped by individual personality and culture.
A) Offerings
B) Wants
C) Demands
D) Values
E) Exchanges
Answer: B
Page Ref: 6
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
5) When backed by buying power, wants become .
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
Answer: B
Page Ref: 6
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
6) Abel now has the buying power to purchase the computer that he wanted for the last
six months. Abel's want has now become a(n) .
A) need
B) necessity
C) demand
D) exigency
E) desire
Answer: C
Page Ref: 6
Difficulty: Challenging
Chapter LO: 2
AACSB: Analytic skills
Course LO: Discuss the fundamental concepts of marketing
Marketing An Introduction Armstrong 11th Edition Test Bank
,Marketing-an-Introduction-Armstrong-11th-Edition-Test-Bank
7) refers to the mistake of paying more attention to the specific products a company
offers than to the benefits and experiences produced by these products.
A) Buyer's remorse
B) Out-of-home advertising
C) Caveat emptor
D) Marketing myopia
E) Winner's curse
Answer: D
Page Ref: 7
Difficulty: Moderate
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
8) The art and science of choosing target markets and building profitable relationships with
them is called .
A) marketing management
B) market capitalization
C) marketing liquidity
D) market buzz
E) marketing liberalization
Answer: A
Page Ref: 9
Difficulty: Easy
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
9) Selecting particular segments of a population of customers to serve is called .
A) value reengineering
B) brand synchronizing
C) mass customizing
D) target marketing
E) selective administering
Answer: D
Page Ref: 9
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
Marketing An Introduction Armstrong 11th Edition Test Bank
, Marketing-an-Introduction-Armstrong-11th-Edition-Test-Bank
10) The BakeWay Bite is a popular cookie sandwich marketed by the Posco Division of Home
Foods. It is famous for its white cream-filled center. Home Foods created a different version of
these biscuits for consumers in Germany. To appeal to German consumers, Home Food
created dark chocolate filling for the same cookie sandwiches. This is an example of .
A) bulk breaking
B) cost leadership
C) diversification
D) target marketing
E) vertical
integration Answer:
D
Page Ref: 9
Difficulty: Challenging
Chapter LO: 3
AACSB: Analytic skills
Course LO: Discuss the fundamental concepts of marketing
11) A brand's is the set of benefits or values it promises to deliver to consumers to
satisfy their needs.
A) dominant affect
B) fringe benefit
C) cardinality
D) value proposition
E) fundamental
benefit Answer: D
Page Ref: 9
Difficulty: Easy
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
12) Which of the following marketing management concepts is most likely to lead to
marketing myopia?
A) the customer-driven marketing concept
B) the customer-driving marketing concept
C) the societal marketing concept
D) the selling concept
E) the production concept
Answer: E
Page Ref: 10
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
Marketing An Introduction Armstrong 11th Edition Test Bank
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