Marketing is _____. the same as advertising and sales not used by small corporations about satisfying customer nee

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

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

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

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

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

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

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

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

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

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

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

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

17. 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 Kotler / Armstrong, Chapter 1

18. 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 Kotler / Armstrong, Chapter 1

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

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

21. 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 Kotler / Armstrong, Chapter 1

22. 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 Kotler / Armstrong, Chapter 1

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

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

25. 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 Kotler / Armstrong, Chapter 1

26. 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 Kotler / Armstrong, Chapter 1

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

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

29. 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 Kotler / Armstrong, Chapter 1

30. 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 Kotler / Armstrong, Chapter 1

31. 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 Kotler / Armstrong, Chapter 1

32. 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 Kotler / Armstrong, Chapter 1

33. 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 Kotler / Armstrong, Chapter 1

34. 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 Kotler / Armstrong, Chapter 1

35. 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 Kotler / Armstrong, Chapter 1

36. 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 Kotler / Armstrong, Chapter 1

37. 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 Kotler / Armstrong, Chapter 1

38. 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 Kotler / Armstrong, Chapter 1

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

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