armsrong_mai08_tif_01.docVIP

Chapter 1 Marketing: Managing Profitable Customer Relationships GENERAL CONTENT: Multiple-Choice Questions Central to any definition of marketing is _____. demand management transactions customer relationships making a sale making a profit (Answer: c; p. 5; Easy) All of the following are accurate descriptions of modern marketing today, except which one? Marketing is creation of value for customers. Marketing is customer satisfaction at a profit. Selling and advertising are synonymous with marketing. Marketing involves building and managing profitable customer relationships. None of the above statements is true. (Answer: c; p. 5; Easy) Like NASCAR, successful companies recognize a crucial dimension of an outstanding marketing company to be _____. a strong customer focus a relentless pursuit of customer needs customer relationships built by everyone in the organization all of the above none of the above (Answer: d; p. 5; Moderate) _____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation. Selling Advertising Barter Marketing None of the above is correct. (Answer: d; p. 5; Challenging) Society and culture shape the basic form of human needs called _____. needs wants demands value an exchange (Answer: b; p. 6; Moderate) When backed by buying power, wants become _____. social needs demands physical needs self-esteem needs exchanges (Answer: b; p. 6; Easy) The fundamental reason America’s most admired firms, including Southwest Airlines and Harley-Davidson, conduct extensive research is to _____. maximize profits increase market share increase sales understand customers’ needs, wants, and demands undermine competitors (Answer: d; p. 6; Moderate) _____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. Selling myopia Marketing Selling Marketing myopia Share of customer (Answer: d; p. 7; Moderate) American b