Seventh Canadian Edition

TEST Bank For Geoff Malleck Marketing Seventh Canadian Edition Gary Armstrong Philip Kotler Valerie Trifts 1 / 4

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Table of Contents

CHAPTER 1 Marketing: Creating Customer Value and Engagement ............................

CHAPTER 2 Company and Marketing Strategy: Partnering to Build Customer

Engagement, Value, and Relationships .....................................................CHAPTER 3 Analyzing the Marketing Environment .....................................................CHAPTER 4 Managing Marketing Information to Gain Customer Insights ..................CHAPTER 5 Understanding Consumer and Business Buyer Behaviour ........................

CHAPTER 6 Customer Value-Driven Marketing Strategy: Creating Value for Target

Customers ..................................................................................................CHAPTER 7 Products, Services, and Brands: Building Customer Value .......................CHAPTER 8 Developing New Products and Managing the Product Life Cycle ............CHAPTER 9 Pricing: Understanding and Capturing Customer Value ...........................CHAPTER 10 Marketing Channels: Delivering Customer Value .....................................CHAPTER 11 Retailing and Wholesaling .........................................................................

CHAPTER 12 Engaging Consumers and Communicating Customer Value: Advertising

and Public Relations ..................................................................................CHAPTER 13 Personal Selling and Sales Promotion .......................................................CHAPTER 14 Direct, Online, Social Media, and Mobile Marketing ...............................CHAPTER 15 The Global Marketplace ............................................................................CHAPTER 16 Sustainable Marketing: Social Responsibility and Ethics .........................

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1 © 2021 Pearson Canada Inc.

Marketing: An Introduction, 7ce (Armstrong/Kotler/Trifts)

Chapter 1 Marketing: Creating Customer Value and Engagement

1) Marketing, more than any other business function, deals with ________.

• customers
• sales
• advertising
• new products
• brands

Answer: A

Diff: 1 Type: MC LO: 1-1: Define marketing and outline the steps in the marketing process.

AACSB: Application of knowledge

2) Amazon, like many other successful companies, is driven by one primary objective, namely

________.

• value creation for the customers.
• providing shareholders with healthy returns on their investments.
• acquiring companies in order to add to its many product offerings.
• fast and reliable delivery.
• acquiring market share from industry leader, Walmart.

Answer: A

Diff: 1 Type: MC LO: 1-1: Define marketing and outline the steps in the marketing process.

AACSB: Application of knowledge

3) According to the five-step model of the marketing process, the first step in marketing is

________.

• capturing value from customers to create profits and customer equity
• constructing an integrated marketing program that delivers superior value
• engaging customers, building profitable relationships, and creating customer delight
• understanding the marketplace and customer needs and wants
• designing a customer-driven marketing strategy

Answer: D

Diff: 2 Type: MC LO: 1-1: Define marketing and outline the steps in the marketing process.

AACSB: Analytical thinking

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2 © 2021 Pearson Canada Inc.4) In recent years marketers have leveraged various forms of social media and other technologies to advance their primary goal of ________.

• gaining favourable media attention
• being better able to reach the customer directly, personally and interactively
• gathering more sales data (big data)
• finding less expensive ways to operate thus driving higher levels of profitability.
• faster product development

Answer: B

Diff: 2 Type: MC LO: 1-1: Define marketing and outline the steps in the marketing process.

AACSB: Analytical thinking

5) Management guru Peter Drucker stated, "The aim of marketing is to make selling unnecessary."

Answer: TRUE

Diff: 1 Type: TF LO: 1-1: Define marketing and outline the steps in the marketing process.

AACSB: Analytical thinking

6) What is marketing? Briefly describe the marketing process.Answer: Marketing can be defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The marketing process consists of five steps. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships. In the final step, companies reap the rewards of creating superior customer value. By creating value for consumers, they in turn capture value from consumers in the form of sales, profits, and long-term customer equity.Diff: 2 Type: ES LO: 1-1: Define marketing and outline the steps in the marketing process.

AACSB: Analytical thinking

7) As described in the text, both Airbnb and Target's CEO's share a practice that they believe makes them more capable leaders of their company. This practice involves more frequent

________.

• interviews with the media (Fortune Magazine, Wall Street Journal)
• blog posts on how to run a company (Jeff Bullas, James Altucher)
• visits to their locations (AirBnb hosts and Target stores)
• personal vacations to ensure they get rested while enjoying time away from their role
• isolation from the market in order to make more refined decisions

Answer: C

Diff: 2 Type: MC LO: 1-2: Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.

AACSB: Analytical thinking

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