Kotler/Keller/Cunningham/Sivaramakrishnan Marketing Management, Fourteenth Canadian Edition Chapter 1 Defining Marketing for the 21st Century

Topics: Marketing, Types of marketing, Strategic management Pages: 13 (9252 words) Published: October 28, 2014
a. execution. b. research. c. tactics. d. selling. e. strategies. Answer a Diff 2 Type MC Page Reference 3 Skill General Concept 2) Marketing is both an art and a science because there is constant tension between the formulated side of marketing and the ________ side. a. behaviour b. creative c. management d. selling e. forecasting Answer b Diff 1 Type MC Page Reference 3 Skill General Concept 3) A social definition of marketing says ________. a. effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers b. a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the companys products c. marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others d. marketing is the process of extracting the maximum value from consumers to facilitate corporate growth e. marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer Answer c Diff 2 Type MC Page Reference 5 Skill General Concept 4) Marketing management is a. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. b. developing marketing strategies to move the company forward. c. monitoring the profitability of the companies products and services. d. a set of processes for creating, communicating, and delivering value to customers. e. identifying and meeting human and social needs. Answer a Diff 1 Type MC Page Reference 5 Skill General Concept 5) ________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. a. Targeting b. Marketing management c. Forecasting d. Segmentation e. Distribution Answer b Diff 2 Type MC Page Reference 5 Skill General Concept 6) When IKEA noticed that people wanted good furniture at a substantially lower price and created knockdown furniture, they demonstrated marketing savvy and turned a private or social need into a(n) a. customer want. b. profitable business opportunity. c. market need. d. invention. e. product development. Answer b Diff 2 Type MC Page Reference 5 Skill Application 7) As economies advance, a growing proportion of their activities focuses on the production of ________. a. events b. services c. experiences d. places e. products Answer b Diff 1 Type MC Page Reference 5 Skill General Concept 8) ________ actively work to build a strong, favourable, and unique image in the minds of their target publics. a. Experiences b. Shopping goods c. Properties d. Durable goods e. Organizations Answer e Diff 2 Type MC Page Reference 6 Skill General Concept 9) The Toronto Zoo represents ________ marketing customers view animals in their natural habitats. a. event b. experiences c. goods d. celebrity e. services Answer b Diff 2 Type MC Page Reference 6 Skill Application 10) ________ goods constitute the bulk of most countries production and marketing efforts. a. Durable b. Event c. Physical d. Service e. Impulse Answer c Diff 2 Type MC Page Reference 5 Skill General Concept 11) School and universities, encyclopedias, nonfiction books, and magazines all produce and distribute which type of entity that can be marketed a. Information b. Properties c. Celebrities d. Places e. Organizations Answer a Diff 2 Type MC Page Reference 6 Skill General Concept 12) Charles Revson of Revlon observed In the factory, we make cosmetics in the store, ________. a. we implement ads b. we sell quality c. we sell hope d. we challenge competitors e. we make profits Answer c Diff 1 Type MC Page Reference 6 Skill General Concept 13) A ________ is someone seeking a response (attention, a purchase, a vote, a donation) from...
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