95 test bank for marketing an introduction 10th edition by armstrong

95 Test Bank for Marketing An Introduction 10th Edition by Armstrong Multiple Choice Questions - Page 1 ________ is the set of benefits a company promises to deliver to its consumers to

95 Test Bank for Marketing An Introduction 10th Edition

by Armstrong

Multiple Choice Questions - Page 1

is the set of benefits a company promises to deliver to its consumers to satisfy their needs

1 A) A money-back guarantee

2 B) Low pricing

3 C) Good customer service

4 D) A value proposition

5 E) An attribute

Selecting which segments of a population of customers to serve is called

1 A) market segmentation

2 B) positioning

3 C) customization

4 D) target marketing

5 E) choosing a value proposition

The steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships

1 A) first two

2 B) first three

3 C) first four

4 D) last three

5 E) last four

The concept calls for aggressive selling and focuses on generating transactions to obtain profitable sales

1 A) marketing

2 B) production

3 C) product

4 D) selling

5 E) societal marketing

Which of the following is the most likely result of a marketing

strategy that attempts to serve all customers?

1 A) All customers will be delighted.

2 B) Customer-perceived value will be increased.

3 C) Customer evangelists will become unpaid salespersons for the service or product.

4 D) Few customers will be satisfied.

5 E) The company will likely need to follow up with a demarketing campaign. Which of the following is most essential to any definition of

marketing?

2 B) the production concept

3 C) customer relationships

4 D) making a sale

5 E) making a profit

is the act of obtaining a desired object from someone by offering something in return

1 A) A value proposition

2 B) Exchange

3 C) Bribery

4 D) Value

5 E) Donation

Family Dollar stores profitably focusing on buyers who have

relatively modest means is an example of

1 A) convenience

2 B) value pricing

3 C) market segmentation

4 D) target marketing

5 E) value packing

According to management guru Peter Drucker, "The aim of

marketing is to ."

1 A) create customer demands

2 B) identify customer demands

3 C) make selling unnecessary

4 D) set realistic customer expectations

5 E) sell products

Which of the following marketing management concepts is most likely to lead to marketing myopia?

1 A) customer-driven marketing

2 B) customer-driving marketing

3 C) societal marketing

4 D) selling

5 E) product

The concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do

1 A) product

2 B) production

3 C) selling

4 D) equity

5 E) marketing

"Build a better mousetrap and the world will beat a path to your door" reflects the concept

1 A) production

2 B) marketing

3 C) selling

4 D) product

5 E) target marketing

refers to sellers being preoccupied with their own

products and losing sight of underlying consumer needs

1 A) Selling myopia

2 B) Marketing management

3 C) Value proposition

4 D) Marketing myopia

5 E) The product concept

Which of the following is an example of a type of market offering?

1 A) persons

2 B) ideas

3 C) information

4 D) experiences

5 E) all of the above

According to the authors of your text, the concept is a

"sense and respond" philosophy rather than a "make and sell" philosophy

1 A) product

2 B) production

3 C) marketing

4 D) retailing

5 E) societal marketing

Which customer question is answered by a company's value proposition?

1 A) "Why should I buy your brand rather than a competitor's?"

2 B) "How does your brand benefit me and society?"

3 C) "What are the costs and benefits of your brand?"

4 D) "What kind of experience will I have with products and services associated with this brand?"

5 E) "What are the benefits of being a loyal consumer of your brand?"

is defined as a social and managerial process by which individuals and organizations obtain what they need and want

through creating and exchanging value with others

1 A) Selling

2 B) Advertising

3 C) Bartering

4 D) Marketing

5 E) Negotiating

Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?

1 A) production concept

2 B) product concept

3 C) selling concept

4 D) marketing concept

5 E) societal marketing concept

According to the simple five-step model of the marketing process, a company needs to before designing a customer-driven marketing strategy

1 A) determine how to deliver superior value

2 B) build profitable relationships with customers

3 C) use customer relationship management to create full partnerships with key customers

4 D) understand the marketplace and customer needs and wants

5 E) construct key components of a marketing program

When backed by buying power, wants become

1 A) social needs

2 B) demands

3 C) physical needs

4 D) self-esteem needs

5 E) exchanges

When marketers set low expectations for a market offering, they are most likely to run the risk of which of the following?

1 A) disappointing loyal customers

2 B) decreasing customer satisfaction

3 C) failing to attract enough customers

4 D) failing to understand their customers' needs

5 E) incorrectly identifying a target market

The art and science of choosing target markets and building

profitable relationships with them is called

1 A) marketing management

2 B) positioning

3 C) segmentation

4 D) selling

5 E) societal marketing

Which of the following marketing management concepts is most closely aligned with the philosophy of continuous product

improvement and the belief that customers will choose products that offer high quality, performance, and innovative features?

1 A) product

2 B) production

3 C) customer

4 D) marketing

5 E) promotion

are human needs as shaped by individual personality and culture

1 A) Deprivations

2 B) Wants

4 D) Values

5 E) Exchanges

In addition to attracting new customers and creating transactions, the goal of marketing is to customers and grow the company's business

1 A) encourage

2 B) entertain

3 C) retain

4 D) recognize

5 E) educate

is the set of actual and potential buyers of a product

1 A) A market

2 B) An audience

3 C) A group

4 D) A segment

5 E) An exchange

The product concept says that a company should

1 A) improve marketing of its best products

2 B) market only those products with high customer appeal

3 C) focus on the target market and make products that meet those customers' demands

4 D) devote its energy to making continuous product improvements

5 E) make promoting products the top priority

All of the following are accurate descriptions of modern marketing today, EXCEPT which one?

1 A) Marketing is the creation of value for customers.

2 B) Marketing is managing profitable customer relationships.

3 C) Selling and advertising are synonymous with marketing.

4 D) Marketing involves satisfying customers' needs.

5 E) Marketing is used by for-profit and not-for-profit organizations.

Consumer research, product development, communication,

distribution, pricing, and service are all most accurately described

as core activities

1 A) exchange

2 B) marketing

4 D) production

5 E) customer relationship management

95 Free Test Bank for Marketing An Introduction 10th Edition by Armstrong Multiple Choice Questions - Page 2

Building and maintaining profitable value-laden relationships with customers of a company is called

1 A) customer lifetime value

2 B) customer perceived value

3 C) customer relationship management

4 D) database marketing

5 E) societal marketing

The marketing world is embracing because consumers can wield greater power and control in the marketplace through communication technologies

1 A) partner relationship management

2 B) supply chain management

3 C) customer-managed relationships

4 D) market segmentation

5 E) target marketing

FedEx offers its customers fast and reliable package delivery When FedEx customers weigh these aforementioned benefits against the monetary and psychic costs of using the service, they are acting upon

1 A) loyalty

2 B) relationship marketing

3 C) customer-perceived value

4 D) social relationships

5 E) a societal marketing campaign

Greater consumer control means that companies must rely more on marketing by than by

1 A) interruption; involvement

2 B) attraction; intrusion

3 C) socialization; information

4 D) producing; selling

5 E) inspiration; competition

Which of the following reflects the marketing concept philosophy?

1 A) "We don't have a marketing department, we have a customer department."

2 B) "We're in the business of making and selling superior products."

3 C) "We build them so you can buy them."

4 D) "When it's profits versus customers' needs, profits will always win out."

5 E) "You won't find a better deal anywhere."

The concept holds that firms must strive to deliver value

to customers in a way that maintains or improves both the

consumer's and society's well being

1 A) marketing

2 B) selling

3 C) product

4 D) societal marketing

5 E) equity

Frequent flyer programs offered by airlines are an example of a

1 A) frequency marketing program

2 B) basic customer relationship

3 C) club marketing program

4 D) consumer-generated marketing program

5 E) structural benefit provided for top customers

The set of marketing tools a firm uses to implement its marketing strategy is called the

1 A) promotion mix

2 B) product mix

3 C) marketing mix

5 E) marketing effort

In today's world, marketing should be done by

employees in an organization

1 A) marketing

2 B) marketing, sales, and customer-support

3 C) sales and technology

5 E) all

Which of the following best explains why consumers have greater power and control in today's marketplace?

1 A) The production concept and competition have lowered prices.

2 B) Implementation of the product concept has resulted in continually

improving products.

3 C) Customer-driving marketing creates products and services that meet customers' future needs.

4 D) More companies are implementing societal marketing and weighing long-run costs and benefits.

5 E) Through new communication technologies, customers have more access

to information and more methods of sharing their opinions with other

customers.

The final step in the marketing process is

1 A) capturing value from customers

2 B) creating customer loyalty

3 C) creating customer lifetime value

4 D) understanding the marketplace

5 E) designing a customer-driven marketing strategy

Partner relationship management focuses on working with

to bring more value to customers

1 A) partners inside and outside of the company

2 B) competitors

3 C) consumers

4 D) interest groups

5 E) all of the above

Which of the following is an example of consumer-generated

marketing?

1 A) Toyota's presence in online communities

2 B) Nike's Nike Plus running Web site

3 C) BMW's use of brand-related consumer videos posted on video-sharing Web sites

4 D) Neiman Marcus's InCircle Rewards program for its best customers

5 E) The Lexus Covenant aimed at creating customer delight

Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?

1 A) satisfied customers

2 B) customer evangelists

3 C) butterflies

4 D) full partners

5 E) social customers

When customers don't know what they want or don't even know what's possible, the most effective strategy is marketing

1 A) customer-driven

2 B) customer-driving

3 C) societal

4 D) production

5 E) product

Which of the following strategies would a company most likely use

to increase customer satisfaction?

1 A) decreasing variety of services offered

2 B) lengthening the supply chain

3 C) lowering prices

4 D) "firing" unprofitable customers

5 E) limiting experiences with a brand

The societal marketing concept seeks to establish a balance

between consumer short-run wants and consumer

1 A) short-run costs and profits

2 B) short-run ethics

3 C) long-run welfare

4 D) immediate health

5 E) value propositions

The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and

1 A) human welfare

2 B) want satisfaction

3 C) company profits

4 D) short-run wants

5 E) long-term needs

Which of the following has NOT contributed to the deeper, more interactive nature of today's customer relationships?

1 A) e-mail

2 B) Web sites

3 C) online social networks

4 D) traditional advertising

5 E) video sharing

A firm that uses the selling concept takes a(n) approach

1 A) outside-in

2 B) customer-driven

3 C) inside-out

4 D) marketing concept

5 E) customer service

It is most accurate to say that a customer will buy from the company that offers the highest

1 A) value for the dollar

2 B) customer perceived value

3 C) level of customer satisfaction

4 D) company image

5 E) concern for society's interests

Through , many companies today are strengthening their connections to all partners, from providers of raw materials and components to final buyers who purchase final products

1 A) supply chain management

2 B) direct marketing

3 C) partnership relationship marketing

4 D) customized marketing

5 E) deviated marketing

Which of the following is determined by a customer's personal

evaluation of the benefits and costs of a market offering relative to those of competing offers?

1 A) customer-perceived value

2 B) customer satisfaction

3 C) customer-perceived performance

4 D) customer relationship management

5 E) market segmentation

To capture the full essence of customer relationship management, which of the following should a marketing manager take into

consideration?

1 A) owning customers for life

2 B) capturing a customer's lifetime value

3 C) building overall customer equity

4 D) creating a sense of community surrounding a brand

5 E) all of the above

Of the following, which is the most important concept of modern marketing?

1 A) customer relationship management

2 B) e-mail advertising

3 C) mass marketing

4 D) properly trained sales people

5 E) low prices

Customer-driven marketing is most likely to work well when

and when customers

1 A) a clear need exists; are difficult to identify

2 B) customers do not know what they want; have limited budgets

3 C) there are few competitors; are concerned about their long-run welfare

4 D) a clear need exists; know what they want

5 E) a want exists; cannot afford it

95 Free Test Bank for Marketing An Introduction 10th Edition by Armstrong Multiple Choice Questions - Page 3

A church targeting different demographic groups to increase

attendance is an example of

1 A) for-profit marketing

2 B) not-for-profit marketing

3 C) mindless marketing

4 D) ethics in marketing

5 E) societal marketing