Creating and Capturing Customer Value

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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: 2 and 4

Skill: Concept

Objective: 1-1

2) According to the opening scenario, the Tide marketing team is MOST concerned about which

of the following?

A) maintaining its brand share

B) fostering customers' emotional connections with their product

C) advertising their product's benefits

D) comparing the effectiveness of their product to other brands

E) incorporating consumer-generated marketing in the marketing mix

Answer: B

Diff: 2

Page Ref: 2

Skill: Concept

Objective: 1-1

3) 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 realistic customer expectations

E) sell products

Answer: C

Diff: 2

Page Ref: 5

Skill: Concept

Objective: 1-1

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To download more slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.com

4) ________ is defined as a social and managerial process by which individuals and

organizations obtain what they need and want through value creation and exchange.

A) Selling

B) Advertising

C) Bartering

D) Marketing

E) Negotiating

Answer: D

Diff: 2

Page Ref: 5

Skill: Concept

Objective: 1-1

5) Which steps of the five-step marketing process are about understanding customers, creating

customer value, and building strong customer relationships?...