Armstrong/Kotler) Chapter 1 Marketing: Creating and Capturing Customer Value Exam (Questions & Answers) A rated

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Chapter 1 Marketing: Creating and Capturing Customer Value 1) According to the five-step model of the marketing process, the first step in marketing is ________. A) capturing value from customer... s to create profits and customer equity B) constructing an integrated marketing program that delivers superior value C) building profitable relationships and creating customer delight D) understanding the marketplace and customer needs and wants E) designing a customer-driven marketing strategy Answer: D Difficulty: Moderate Chapter LO: 1 Course LO: Discuss the fundamental concepts of marketing 2) ________ are defined as states of felt deprivation. A) Needs B) Ideas C) Demands D) Values E) Exchanges Answer: A Difficulty: Easy Chapter LO: 2 Course LO: Discuss the fundamental concepts of marketing 3) ________ are the form human needs take as they are shaped by culture and individual personality. A) Wants B) Necessities C) Services D) Benefits E) Risks Answer: A Difficulty: Easy Chapter LO: 2 Course LO: Discuss the fundamental concepts of marketing 4) When backed by buying power, wants become ________. A) needs B) demands C) offerings D) values E) ideas Answer: B Difficulty: Easy [Show More]

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