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WorksheetsPrinciples of Marketing Chapter 1
Total questions: 16
Worksheet time: 13mins
________ is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through value creation and exchange
Marketing
Selling
Advertising
Negotiating
Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships?
A) the first two only
B) the first three only
C) the first four only
D) the last four only
The first step in the Marketing process is
A) determine how to deliver superior value
B) build profitable relationships with customers
C) use customer relationship management to create full partnerships with key customers
D) understand the marketplace and customer needs and wants
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 product
________ are human needs as shaped by individual personality and culture.
A) Needs
B) Wants
C) Demands
D) Values
E) Exchanges
8) When backed by buying power, wants become ________.
A) social needs
B) demands
C) physical needs
D) self-esteem needs
E) exchanges
What do companies call a set of benefits that they promise to deliver the customer to satisfy their needs?
A) market offering
B) value proposition
C) demand
D) need proposition
E) evoked set
Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
A) selling myopia
B) marketing management
C) value proposition
D) marketing myopia
E) the product concept
________ is the act of obtaining a desired object from someone by offering something in return.
A) A value proposition
B) Exchange
C) Bribery
D) Value creation
E) Donation
The art and science of choosing target markets and building profitable relationships with them is called ________.
A) marketing management
B) positioning
C) segmentation
D) selling
E) differentiation
Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
A) production concept
B) product concept
C) selling concept
D) marketing concept
E) social marketing concept
The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features.
A) product
B) production
C) customer
D) marketing
E) promotion
"Build a better mousetrap and the world will beat a path to your door" reflects the ________ concept.
A) production
B) marketing
C) selling
D) product
E) target marketing
Which concept calls for aggressive selling and focuses on generating transactions to obtain profitable sales?
A) marketing
B) production
C) product
D) selling
E) societal marketing
Which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
A) product
B) production
C) selling
D) marketing
E) equity
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