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Marketing an Introduction 12th Edition Armstrong Test Bank

Marketing: An Introduction, 12e (Armstrong/Kotler)

Chapter 1 Marketing: Creating and Capturing Customer Value
1) 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) 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
Difficulty: Moderate
Chapter LO: 1
Course LO: Discuss the fundamental concepts of marketing
2) ________ are defined as states of felt deprivation.
A) Needs
B) Ideas
C) Demands
D) Values
E) Exchanges
Answer: A
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
3) ________ are the form human needs take as they are shaped by culture and individual
personality.
A) Wants
B) Necessities
C) Services
D) Benefits
E) Risks
Answer: A
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
4) When backed by buying power, wants become ________.
A) needs
B) demands
C) offerings
D) values
E) ideas
Answer: B
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
5) Abel now has the buying power to purchase the computer that he wanted to buy six months
ago. Abel’s want has most likely become a(n) ________.
A) need
B) value
C) demand
D) offering
E) desire
Answer: C
Difficulty: Difficult
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
6) Marketers are said to suffer from marketing myopia when they ignore underlying consumer
needs and focus excessively on ________.
A) consumers’ brand experiences
B) competitors’ threats
C) consumers’ existing wants
D) competitors’ strengths
E) consumers’ future demands
Answer: C
Difficulty: Moderate
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
7) ________ is the act of obtaining a desired object from someone by offering something in
return.
A) Targeting
B) Segmentation
C) Differentiation
D) Exchange
E) Positioning
Answer: D
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
8) Dividing a market into several sections of customers is known as ________.
A) mass customization
B) market positioning
C) market segmentation
D) value engineering
E) undifferentiated marketing
Answer: C
Difficulty: Easy
Chapter LO: 2
Course LO: Discuss the fundamental concepts of marketing
9) Selecting particular segments of a population of customers to serve is called ________.
A) process reengineering
B) brand synchronizing
C) mass customizing
D) target marketing
E) market positioning
Answer: D
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
10) GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the
specific demands of customers in affluent market segments. The company’s approach is most
likely referred to as ________.
A) mass distribution
B) cost leadership
C) consumer-generated marketing
D) target marketing
E) undifferentiated marketing
Answer: D
Difficulty: Difficult
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
11) A brand’s ________ is the set of benefits that it promises to deliver to consumers to satisfy
their needs.
A) dominant effect
B) fringe benefit
C) perquisite
D) value proposition
E) dividend yield
Answer: D
Difficulty: Easy
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
12) Which of the following concepts holds that consumers will favor products that are available
and highly affordable?
A) the marketing concept
B) the product concept
C) the societal marketing concept
D) the selling concept
E) the production concept
Answer: E
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
13) The production concept holds that ________.
A) consumers will not buy enough of a firm’s products unless the firm undertakes a large-scale
selling and promotion effort
B) a company’s marketing decisions should consider consumers’ wants, the company’s
requirements, consumers’ long-run interests, and society’s long-run interests
C) consumers will favor products that are available and highly affordable
D) achieving organizational goals depends on knowing the needs and wants of target markets
and delivering the desired satisfactions better than competitors do
E) consumers will favor products that offer the most in quality, performance, and innovative
features
Answer: C
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
14) The ________ concept holds that consumers will favor goods and services that offer the most
in quality, performance, and innovative features.
A) societal marketing
B) marketing
C) selling
D) production
E) product
Answer: E
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
15) Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass
distribution to ensure the continuous availability of its products at reasonable prices. Voize most
likely follows the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
Answer: D
Difficulty: Difficult
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
16) According to the product concept, a company should ________.
A) make products that contribute to the long-term welfare of society
B) market only those products that have high customer appeal
C) focus on a target market and make products that meet those customers’ demands
D) devote its energy to making continuous product improvements
E) make product promotion a top priority
Answer: D
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
17) Henry Ford’s philosophy was to perfect the Model-T so that its cost could be reduced further
for increased consumer affordability. This most likely reflects the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
Answer: D
Difficulty: Difficult
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
18) The selling concept holds that ________.
A) consumers will not buy enough of a firm’s products unless the firm undertakes large-scale
persuasion and promotion efforts
B) a company’s marketing decisions should consider consumers’ wants, the company’s
requirements, consumers’ long-run interests, and society’s long-run interests
C) consumers will only favor products that are available and highly affordable
D) achieving organizational goals depends on knowing the needs and wants of target markets
and delivering the desired satisfactions better than competitors do
E) consumers will favor products that offer the most in quality, performance, and innovative
features
Answer: A
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
19) The selling concept is typically practiced with ________.
A) industrial products
B) unsought goods
C) specialty products
D) convenience products
E) essential goods
Answer: B
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
20) Which of the following is a difference between the marketing concept and the selling
concept?
A) The marketing concept focuses on customer needs, whereas the selling concept focuses on
existing products.
B) The marketing concept focuses on customer conquest, whereas the selling concept focuses on
targeting the right customers.
C) The marketing concept takes an inside-out perspective, whereas the selling concept takes an
outside-in perspective.
D) The marketing concept is product-centered, whereas the selling concept is productioncentered.
E) The marketing concept focuses on short-term sales, whereas the selling concept strives to
build long-term customer relationships.
Answer: A
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
21) The ________ concept holds that achieving organizational goals depends on knowing the
needs and wants of target markets and delivering the desired satisfactions better than competitors
do.
A) marketing
B) product
C) production
D) selling
E) societal marketing
Answer: A
Difficulty: Easy
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
22) Which of the following concepts is based on a customer-centered philosophy?
A) the product concept
B) the marketing concept
C) the production concept
D) the selling concept
E) the distribution concept
Answer: B
Difficulty: Easy
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
23) Customer-driven marketing is most effective when ________.
A) a clear need exists among customers, but the need is difficult to identify
B) customers do not know what they want but are easily persuaded
C) customers seek new products and technological innovations
D) clear needs exist and customers know what their needs are
E) customers have wants but cannot afford them
Answer: D
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
24) Directing consumers toward products and services that meet their present and future needs is
referred to as ________ marketing.
A) customer-driven
B) customer-driving
C) societal
D) production
E) product
Answer: B
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
25) When customers don’t know what they want or don’t even know what’s possible, the most
effective strategy is ________ marketing.
A) customer-driven
B) customer-driving
C) societal
D) functional
E) product
Answer: B
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
26) Cylog, a leading provider of personal computer systems, began manufacturing tablet devices
after predicting a future consumer need for portability. Which of the following was most likely
implemented by Cylog?
A) the selling concept
B) customer-driving marketing
C) the product concept
D) sustainable marketing
E) the production concept
Answer: B
Difficulty: Difficult
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
27) Futuristic Designs Inc., a furniture retail chain, understands and anticipates customer needs
even better than customers themselves do and creates products and services to meet their existing
and future needs. Which of the following has Futuristic Designs followed in this case?
A) the product concept
B) customer-driving marketing
C) the societal marketing concept
D) customer-driven marketing
E) the production concept
Answer: B
Difficulty: Difficult
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
28) The societal marketing concept holds that ________.
A) consumers will not buy enough of a firm’s products unless the firm undertakes a large-scale
selling and promotion effort
B) a company’s marketing decisions should focus on creating economic value in a way that also
creates value for the surrounding environment
C) the society will only favor products that are available and highly affordable
D) achieving organizational goals depends on knowing the needs and wants of target markets
and delivering the desired satisfactions better than competitors do
E) consumers will favor products that offer the most in quality, performance, and innovative
features
Answer: B
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
29) Which of the following concepts calls for sustainable marketing?
A) the societal marketing concept
B) the marketing concept
C) the selling concept
D) the production concept
E) the product concept
Answer: A
Difficulty: Easy
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
30) Some fast food restaurants offer tasty and convenient food at affordable prices, but in doing
so they contribute to the soaring obesity rates and environmental problems. In this case, these
fast-food restaurants have overlooked the ________ concept.
A) marketing
B) product
C) production
D) societal marketing
E) selling
Answer: D
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
AACSB: Ethical understanding and reasoning
31) ________ marketing is defined as socially and environmentally responsible marketing that
meets the present needs of consumers and businesses while also preserving or enhancing the
ability of future generations to meet their needs.
A) Customer-driven
B) Mass
C) Sustainable
D) Customer-driving
E) Ambush
Answer: C
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
32) The concept of shared value focuses on ________.
A) creating economic value in a way that also creates value for society
B) maximizing profits to satisfy shareholders
C) creating sales transactions instead of long-term customer relationships
D) building strategic supplier partnerships to create more value for investors
E) providing more financial incentives to sales team members
Answer: A
Difficulty: Moderate
Chapter LO: 3
Course LO: Discuss the fundamental concepts of marketing
33) The overall process of dealing with all aspects of acquiring, keeping, and growing customers
is referred to as ________.
A) perceived-value management
B) societal marketing
C) customer relationship management
D) partner relationship management
E) enterprise resource planning
Answer: C
Difficulty: Moderate
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
34) Which of the following terms refers to a customer’s evaluation of the difference between all
the benefits and all the costs of a market offering relative to those of competing offers?
A) customer-perceived value
B) customer equity
C) share of customer
D) customer profitability
E) customer lifetime value
Answer: A
Difficulty: Moderate
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
35) Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the
lotion’s perceived performance matched her expectations, Sally was measuring her level of
customer ________.
A) loyalty
B) satisfaction
C) equity
D) engagement
E) lifetime value
Answer: B
Difficulty: Difficult
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
36) Raymond purchased a Honda Civic six months ago because he perceived Honda’s superiority
over the competition. Raymond has been more than satisfied with his purchase and now has an
emotional relationship with the Honda brand. Raymond’s relationship with Honda is best referred
to as ________.
A) customer delight
B) customer lifetime value
C) customer equity
D) customer share
E) customer-perceived value
Answer: A
Difficulty: Difficult
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
37) Customer evangelists are those who ________.
A) use personal selling methods to market products and services
B) tell others about their good experiences with a brand or product
C) use their expertise to influence people about specific products
D) work with quality-assurance teams to improve product safety
E) evaluate newly launched products in the marketplace
Answer: B
Difficulty: Moderate
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
38) In which of the following circumstances is an organization likely to engage in full
partnerships with key consumers?
A) when the market has few customers and high margins
B) when the market has a huge number of customers
C) when the firm has a frequency marketing program
D) when the firm has a large number of low-margin customers
E) when the firm has few marketing resources at its disposal
Answer: A
Difficulty: Moderate
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
39) Fine Corp., a consumer electronics manufacturer, targets a market with many low-margin
customers. Which of the following types of associations would be most profitable for the firm to
develop with these customers?
A) full partnerships
B) basic relationships
C) joint ventures
D) strategic alliances
E) business partnering
Answer: B
Difficulty: Difficult
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
40) The Niketown running community organizes bimonthly athletic training programs for Nike
buyers. This is an example of a ________.
A) business partnership program
B) joint venture
C) club marketing program
D) consumer-generated marketing program
E) strategic alliance
Answer: C
Difficulty: Difficult
Chapter LO: 4
Course LO: Discuss the fundamental concepts of marketing
AACSB: Analytic thinking
41) Greater consumer control means that companies must rely more on marketing by ________.
A) intrusion
B) attraction
C) competition
D) forceful persuasion
E) impersonal selling
Answer: B