1. Kotler / Armstrong, Chapter 1
Marketing is _____.
the same as advertising and sales
not used by small corporations
about satisfying customer needs
making a profit

2. Kotler / Armstrong, Chapter 1
Marketing is _____.
the same as advertising and sales
not used by small corporations
about satisfying customer needs
making a profit

3. Kotler / Armstrong, Chapter 1
Marketing is _________.
1. part of manufacturing
2. part of the finance department
3. managing customer relationships
4. sales promotion

4. Kotler / Armstrong, Chapter 1
Marketing is _________.
1. part of manufacturing
2. part of the finance department
3. managing customer relationships
4. sales promotion

5. Kotler / Armstrong, Chapter 1
The first step in the marketing process is to design a marketing strategy.
true
false

6. Kotler / Armstrong, Chapter 1
The first step in the marketing process is to design a marketing strategy.
true
false

7. Kotler / Armstrong, Chapter 1
Now that we have created value for customers, the final step in the marketing process is to capture value from them.
true
false

8. Kotler / Armstrong, Chapter 1
Now that we have created value for customers, the final step in the marketing process is to capture value from them.
true
false

9. Kotler / Armstrong, Chapter 1
The most basic concept underlying marketing is that of _____.
profits
products
human needs
services

10. Kotler / Armstrong, Chapter 1
The most basic concept underlying marketing is that of _____.
profits
products
human needs
services

11. Kotler / Armstrong, Chapter 1
Outstanding marketing companies go to great lengths to learn about and understand the customers’ needs, wants, and demands.
true
false

12. Kotler / Armstrong, Chapter 1
Outstanding marketing companies go to great lengths to learn about and understand the customers’ needs, wants, and demands.
true
false

13. Kotler / Armstrong, Chapter 1
Market offerings are limited to physical products.
true
false

14. Kotler / Armstrong, Chapter 1
Market offerings are limited to physical products.
true
false

15. Kotler / Armstrong, Chapter 1
The art and science of selecting target markets and developing profitable relationships with those markets is called marketing _____.
profiles
maneuvers
selection
management

16. Kotler / Armstrong, Chapter 1
The art and science of selecting target markets and developing profitable relationships with those markets is called marketing _____.
profiles
maneuvers
selection
management

17. Kotler / Armstrong, Chapter 1
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?
production concept
product concept
selling concept
marketing concept

18. Kotler / Armstrong, Chapter 1
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?
production concept
product concept
selling concept
marketing concept

19. Kotler / Armstrong, Chapter 1
Customer relationship management (CRM) deals with all aspects of acquiring, keeping, and growing customers.
true
false

20. Kotler / Armstrong, Chapter 1
Customer relationship management (CRM) deals with all aspects of acquiring, keeping, and growing customers.
true
false

21. Kotler / Armstrong, Chapter 1
To build lasting customer relationships, organizations should focus on delivering _____ and _____.
high quality products; low prices
customer value; customer satisfaction
customer satisfaction; customer growth
customer value; high profits

22. Kotler / Armstrong, Chapter 1
To build lasting customer relationships, organizations should focus on delivering _____ and _____.
high quality products; low prices
customer value; customer satisfaction
customer satisfaction; customer growth
customer value; high profits

23. Kotler / Armstrong, Chapter 1
The set of benefits/values a company promises to its customers is called _______.
value proposition
advertising
supply and demand
production concept

24. Kotler / Armstrong, Chapter 1
The set of benefits/values a company promises to its customers is called _______.
value proposition
advertising
supply and demand
production concept

25. Kotler / Armstrong, Chapter 1
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

26. Kotler / Armstrong, Chapter 1
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

27. Kotler / Armstrong, Chapter 1
Human welfare, want satisfaction, and profits are the three considerations underlining the concept known as _____.
societal marketing
customer-driven
sales-driven
production

28. Kotler / Armstrong, Chapter 1
Human welfare, want satisfaction, and profits are the three considerations underlining the concept known as _____.
societal marketing
customer-driven
sales-driven
production

29. Kotler / Armstrong, Chapter 1
There are five alternative concepts under which organizations design and carry out their marketing strategies: the production, product, selling, marketing, and societal marketing concepts.
true
false

30. Kotler / Armstrong, Chapter 1
There are five alternative concepts under which organizations design and carry out their marketing strategies: the production, product, selling, marketing, and societal marketing concepts.
true
false

31. Kotler / Armstrong, Chapter 1
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.
true
false

32. Kotler / Armstrong, Chapter 1
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.
true
false

33. Kotler / Armstrong, Chapter 1
The _____ is the nation’s 24th largest advertiser with an annual budget of more than $1 billion.
Procter and Gamble Co.
Boeing Co.
Levi Strauss Co.
U.S. Government

34. Kotler / Armstrong, Chapter 1
The _____ is the nation’s 24th largest advertiser with an annual budget of more than $1 billion.
Procter and Gamble Co.
Boeing Co.
Levi Strauss Co.
U.S. Government

35. Kotler / Armstrong, Chapter 1
Which of the first four steps of the marketing process asks, “What consumers will we serve?” and “How can we best serve targeted customers?”
Step 1: Understanding the marketplace
Step 2: Designing the marketing strategy
Step 3: Constructing the marketing program
Step 4: Building profitable relationships with customers

36. Kotler / Armstrong, Chapter 1
Which of the first four steps of the marketing process asks, “What consumers will we serve?” and “How can we best serve targeted customers?”
Step 1: Understanding the marketplace
Step 2: Designing the marketing strategy
Step 3: Constructing the marketing program
Step 4: Building profitable relationships with customers

37. Kotler / Armstrong, Chapter 1
Which step of the marketing process is the most important?
Step 1: Understanding the marketplace
Step 2: Designing the marketing strategy
Step 3: Constructing the marketing program
Step 4: Building profitable relationships with customers

38. Kotler / Armstrong, Chapter 1
Which step of the marketing process is the most important?
Step 1: Understanding the marketplace
Step 2: Designing the marketing strategy
Step 3: Constructing the marketing program
Step 4: Building profitable relationships with customers

39. Kotler / Armstrong, Chapter 1
Customer satisfaction depends on the product/service’s perceived performance relative to a seller’s expectations.
true
false

40. Kotler / Armstrong, Chapter 1
Customer satisfaction depends on the product/service’s perceived performance relative to a seller’s expectations.
true
false