Chapter 1: Marketing: Creating and Capturing Customer Value Essay

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Pages: 39
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Principles of Marketing, 14e (Kotler)
Chapter 1 Marketing: Creating and Capturing Customer Value

1) All of the following are accurate descriptions of modern marketing EXCEPT which one?
A) Marketing is the creation of value for customers.
B) Marketing is managing profitable customer relationships.
C) Selling and advertising are synonymous with marketing.
D) Marketing involves satisfying customers' needs.
E) Marketing is used by for-profit and not-for-profit organizations.
Answer: C
Diff: 2 Page Ref: 4-5
Skill: Concept
Objective: 1-1

2) According to management guru Peter Drucker, "The aim of marketing is to ________."
A) create customer value
B) identify customer demands
C) make selling unnecessary
D) set …show more content…
A) production concept
B) product concept
C) selling concept
D) marketing concept
E) societal marketing concept
Answer: A
Diff: 2 Page Ref: 9
Skill: Concept
Objective: 1-3

19) Which of the following marketing management concepts is most likely to lead to marketing myopia?
A) customer-driven marketing
B) customer-driving marketing
C) societal marketing
D) marketing
E) product
Answer: E
Diff: 2 Page Ref: 9
Skill: Concept
Objective: 1-3

20) According to the production concept, consumers will favor products that are ________ and ________.
A) satisfying; quality focused
B) advertised; affordable
C) in high demand; hard to find
D) segmented; convenient
E) available; affordable
Answer: E
Diff: 2 Page Ref: 9
Skill: Concept
Objective: 1-3

21) The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.
A) product
B) production
C) customer
D) marketing
E) promotion
Answer: A
Diff: 1 Page Ref: 9
Skill: Concept
Objective: 1-3

22) The product concept says that a company should do which of the following?
A) improve marketing of its best products
B) market only those products with high customer appeal
C) focus on the target market and make products that meet those customers' demands
D) focus on
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