Chapter 01: Marketing: Creating and Capturing Customer Value

1.0.1.

Like Running Room, today’s successful companies have one thing in common: they are strongly customer focused and heavily committed to marketing.

a

True

b

False

Difficulty:

1

QuestionID:

01-1-01

Page-Reference:

4

Skill:

Recall

1.0.2.

Not-for-profit organizations, such as universities, hospitals, and museums, do not need to use marketing.

a

True

b

False

Difficulty:

1

QuestionID:

01-1-02

Page-Reference:

5

Skill:

Recall

1.0.3.

Marketing is only selling and advertising.

a

True

b

False

Difficulty:

1

QuestionID:

01-1-03

Page-Reference:

5

Skill:

Recall

1.0.4.

Marketing is the process by which companies create value for all the shareholders in order to build strong relationships with them in return.

a

True

b

False

Difficulty:

2

QuestionID:

01-1-04

Page-Reference:

5

Skill:

Applied

1.0.5.

Human needs are shaped by culture and individual personality.

a

True

b

False

Difficulty:

2

QuestionID:

01-1-05

Page-Reference:

6

Skill:

Recall

1.0.6.

Human wants are states of felt deprivation.

a

True

b

False

Difficulty:

2

QuestionID:

01-1-06

Page-Reference:

6

Skill:

Recall

1.0.7.

When backed by buying power, needs become demands.

a

True

b

False

Difficulty:

2

QuestionID:

01-1-07

Page-Reference:

6

Skill:

Recall

1.0.8.

Market offerings are limited to physical products.

a

True

b

False

Difficulty:

2

QuestionID:

01-1-08

Page-Reference:

7

Skill:

Recall

1.0.9.

An experience such as a vacation can be defined as a market offering.

a

True

b

False

Difficulty:

2

QuestionID:

01-1-09

Page-Reference:

7

Skill:

Applied

1.0.10.

When sellers focus on existing wants and lose sight of underlying customer needs, they suffer from marketing myopia.

a

True

b

False

Difficulty:

3

QuestionID:

01-1-10

Page-Reference:

7

Skill:

Recall