kotler / armstrong, chapter 1 marketing is _____. 1. the same as advertising and sales 2. not used...

Kotler / Armstrong, Chapter 1

Marketing is _____.

1. the same as advertising and sales

2. not used by small corporations

3. about satisfying customer needs

4. making a profit

Marketing is _____.

1. the same as advertising and sales

2. not used by small corporations

3. about satisfying customer needs

4. making a profit

Marketing is _________.

1. part of manufacturing

2. part of the finance department

3. managing customer relationships

4. sales promotion

Marketing is _________.

1. part of manufacturing

2. part of the finance department

3. managing customer relationships

4. sales promotion

The first step in the marketing process is to design a marketing strategy.

1. true

2. false

The first step in the marketing process is to design a marketing strategy.

1. true

2. false

Now that we have created value for customers, the final step in the marketing process is to capture value from them.

1. true

2. false

Now that we have created value for customers, the final step in the marketing process is to capture value from them.

1. true

2. false

The most basic concept underlying marketing is that of _____.

1. profits

2. products

3. human needs

4. services

The most basic concept underlying marketing is that of _____.

1. profits

2. products

3. human needs

4. services

Outstanding marketing companies go to great lengths to learn about and understand the customers’ needs, wants, and demands.

1. true

2. false

Outstanding marketing companies go to great lengths to learn about and understand the customers’ needs, wants, and demands.

1. true

2. false

Market offerings are limited to physical products.

1. true

2. false

Market offerings are limited to physical products.

1. true

2. false

The art and science of selecting target markets and developing profitable relationships with those markets is called marketing _____.

1. profiles

2. maneuvers

3. selection

4. management

The art and science of selecting target markets and developing profitable relationships with those markets is called marketing _____.

1. profiles

2. maneuvers

3. selection

4. management

Which marketing philosophy purports that achieving corporate goals depends on knowing the needs/wants of your markets and delivering the desired satisfactions better than your competitors?1. production concept2. product concept3. selling concept 4. marketing concept

Customer relationship management (CRM) deals with all aspects of acquiring, keeping, and growing customers.

1. true

2. false

Customer relationship management (CRM) deals with all aspects of acquiring, keeping, and growing customers.

1. true

2. false

To build lasting customer relationships, organizations 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

To build lasting customer relationships, organizations 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

The set of benefits/values a company promises to its customers is called _______.

1. value proposition

2. advertising

3. supply and demand

4. production concept

The set of benefits/values a company promises to its customers is called _______.

1. value proposition

2. advertising

3. supply and demand

4. production concept

Companies that research current customers, gather new product ideas, and test purposed product improvements are ________.

1. profit-driven

2. customer-driven

3. sales-driven

4. cost-reducing-driven

Companies that research current customers, gather new product ideas, and test purposed product improvements are ________.

1. profit-driven

2. customer-driven

3. sales-driven

4. cost-reducing-driven

Human welfare, want satisfaction, and profits are the three considerations underlining the concept known as _____.

1. societal marketing

2. customer-driven

3. sales-driven

4. production

Human welfare, want satisfaction, and profits are the three considerations underlining the concept known as _____.

1. societal marketing

2. customer-driven

3. sales-driven

4. production

There are five alternative concepts under which organizations design and carry out their marketing strategies: the production, product, selling, marketing, and societal marketing concepts.

1. true

2. false

There are five alternative concepts under which organizations design and carry out their marketing strategies: the production, product, selling, marketing, and societal marketing concepts.

1. true

2. false

The customer’s evaluation of the difference between benefits and costs of a product/service as it relates to the competition is called customer perceived value.

1. true

2. false

The customer’s evaluation of the difference between benefits and costs of a product/service as it relates to the competition is called customer perceived value.

1. true

2. false

The _____ is the nation’s 24th largest advertiser with an annual budget of more than $1 billion.

1. Procter and Gamble Co.

2. Boeing Co.

3. Levi Strauss Co.

4. U.S. Government

The _____ is the nation’s 24th largest advertiser with an annual budget of more than $1 billion.

1. Procter and Gamble Co.

2. Boeing Co.

3. Levi Strauss Co.

4. U.S. Government

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

Which of the first four steps of the marketing process asks, “What consumers will we serve?” and “How can we best serve targeted customers?”

Which step of the marketing process is the most important?

Customer satisfaction depends on the product/service’s perceived performance relative to a seller’s expectations.

1. true

2. false

Customer satisfaction depends on the product/service’s perceived performance relative to a seller’s expectations.

1. true

2. false

kotler / armstrong, chapter 1 marketing is _____. 1. the same as advertising and sales 2. not used...

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