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QUIZ CH01 - Chapter 1 Marketing Managing Profitable...

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Chapter 1 Marketing: Managing Profitable Customer Relationships GENERAL CONTENT: Multiple-Choice Questions 1. Central to any definition of marketing is _____. a. demand management b. transactions c. customer relationships d. making a sale e. making a profit (Answer: c; p. 5; Easy) 2. All of the following are accurate descriptions of modern marketing today, except which one? a. Marketing is creation of value for customers. b. Marketing is customer satisfaction at a profit. c. Selling and advertising are synonymous with marketing. d. Marketing involves building and managing profitable customer relationships. e. None of the above statements is true. (Answer: c; p. 5; Easy) 3. Like NASCAR, successful companies recognize a crucial dimension of an outstanding marketing company to be _____. 4. _____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation. 1
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5. Society and culture shape the basic form of human needs called _____. 6. When backed by buying power, wants become _____. a. social needs b. demands c. physical needs d. self-esteem needs e. exchanges (Answer: b; p. 6; Easy) 7. The fundamental reason America’s most admired firms, including Southwest Airlines and Harley-Davidson, conduct extensive research is to _____. 8. _____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. 9. American brand icons, including Harley-Davidson, Coca-Cola, and Nike, create deep brand meanings for consumers and do not suffer from _____. 2
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10. _____ are key building blocks for developing and managing customer relationships. a. Consumer expectations and customer satisfaction b. Customer choices and product offers c. Product performance and customer value d. Customer value and customer satisfaction e. Strategic plans (Answer: d; p. 8; Challenging)
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