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1, Which one of the following is not accurate description of modern marketing?
A, marketing is the creation of value for customer.

B, marketing involves managing profitable customer relationship
C, marketing emphasizes selling and advertising exclusively.
D, marketing involves satisfying customer need
E, marketing is building value- laden exchange relationship with customer.
2, marketing is defined as a social and managerial process by which individuals and
organizations obtain what they need and want through.
A, Research and development
B, innovation and creativity
C, manufacturing efficiencies
D, value creation and exchange
E, sales and revenue creation
3, ---------are human needs that are shaped by culture and individual personality.
A, necessities
B, wants
C, demand
D, values
E, exchanges
4, an organic farmer has identified three distinct groups that might be interested in
his products; vegetarians health – conscious individuals, and people identified as
trendsetters who try out new products in the market before others. These three
groups are examples of------------.
A, marketing mixes
B, marketing segments
C, value propositions
D, market offerings
5, cathy’s clothes is a small yet successful retail chain that sells women’s clothing
and accessories with a focus on buyers who have relatively modest means. for this
specific purpose, the firm has rolled out several marketing initiatives aimed at
women of a specific demographic. This is an example of-------.
A, ambush marketing
B, social marketing
C, societal marketing
D, target marketing
E, cause marketing
6 ,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
7, Railroads were once operated based on the thinking that users wanted trains that
would offer the most in quality, performance, and innovative features. The railroad
managing companies overlooked the fact that there could be other modes of
transportations, this reflects the ---------concept.
A, product
B, production
C, selling
D, marketing
E,, societal marketing
8, Jolene’s firm markets preplanning service for a mortician. She finds that most of
her target market avoids discussing future funeral needs. she convinces people to
invest in the firm’s services through her large scale promotional efforts. Jolene’s
firm most likely practices the--------.
A, production concept
B, marketing concept
C, selling concept
D, product concept
9,some fast-food restaurants offer tasty and convenient food at affordable prices,
but in doing so they contribute to a national obesity epidemic and environmental
problems. These fast-food restaurants overlook the ------philosophy.
A, Marketing concept
B, product concept
C .production concept
D, societal marketing concept
10, Building and maintaining profitable customer relationships by delivering
superior customer value and satisfaction is called ------------.
A, customer lifetime value
B, customer-perceived value
C, customer Relationship management
D, partner relationship management
E, customer equity
11, sally recently purchased brand X lotion. In comparing her perception of how the
lotion made her skin feel and look to her expectations about brand X lotion, sally
was measuring her level of---------.
A share of customer
B, customer satisfaction
C, customer equity
D, customer-perceived value
E, customer lifetime value
12, -------- involves actually distinguishing the firm’s market offering to create
superior customer value.
A, Mass customization
B, Differentiation
C, Market segmentation
D, diversifying
E, targeting
13, Delta motors works markets its cars based on the age, gender, and income of its
customers. Which of the following types of market segmentation is evident here?
A, Geographic
B, Benefit
C, Occasion
D, psychographic
E, Demographic
14, Gilron Holidays runs a premium membership club that caters to customers
whose annual salary exceeds $100,000. Members of this club are offered seasonal
discounts on select luxury hotels in select cities worldwide. Gilron holidays most
likely follows a(n)-------segmentation approach.
A, Gender
B, Income
C, Occasion
D, Benefit
15, To the extent that a company can differentiate and position itself as providing
superior customer value, it gains ---------.
A, competitive advantage
B, complementary assets
C, service life
D, Core competencies
16, ---------, refers to the amount of money charged for a product or service.
A, Value
B, Cost
C, price
D, wage
E, Salary
17, Which of the following is true with regard to price?
A, Historically, price has had the least perceptible impact on buyer choice.
B, price is the least flexible element in the marketing mix
C, Unlike product features and channel commitments, prices cannot be changed
quickly.
D, Price is the sum of all the values that customers give up to gain the benefits of
having a product
18, A pharmaceutical company in Utah recently released a new and expensive anti-
ulcer drug in the market. The company justifies the high price of the drug by
claiming that it is highly effective for treating all kind of ulcers. The company also
claim that the new drug will help bring down the need for invasive surgeries, an
additional benefit for patients. Which of the following pricing strategies is the
pharmaceutical company most likely using in this instance?
A, target pricing
B, Markup pricing
C, Cost-based pricing
D, value –based pricing
E, Break- even pricing

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1, Which one of the following is not accurate description of modern marketing?

A, marketing is the creation of value for customer.

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