Chapter 1

Chapter 1
1) ________ are defined as states of felt deprivation.

A) Needs
B) Ideas
C) Demands
D) Values
E) Exchanges
Answer: A
2) When backed by buying power, wants become ________.

A) needs
B) demands
C) offerings
D) values
E) ideas
Answer: B
3) Abel now has the buying power to purchase the computer that he wanted to buy six months
ago. Abel's want has most likely become a(n) ________.
A) need
B) value
C) demand
D) offering
E) desire
Answer: C
4) Marketers are said to suffer from marketing myopia when they ignore underlying consumer
needs and focus excessively on ________.
A) consumers' brand experiences
B) competitors' threats
C) consumers' existing wants
D) competitors' strengths
E) consumers' future demands
Answer: C
5) Dividing a market into several sections of customers is known as ________.

A) mass customization
B) market positioning
C) market segmentation
D) value engineering
E) undifferentiated marketing
Answer: C
6) A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy
their needs.
A) dominant effect
B) fringe benefit
C) perquisite
D) value proposition
E) dividend yield
Answer: D
7) Which of the following concepts holds that consumers will favor products that are available
and highly affordable?
A) the marketing concept
B) the product concept
C) the societal marketing concept
D) the selling concept
E) the production concept
Answer: E
8) The ________ concept holds that consumers will favor goods and services that offer the most
in quality, performance, and innovative features.
A) societal marketing
B) marketing
C) selling
D) production
E) product
Answer: E
9) The ________ 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) marketing
B) product
C) production
D) selling
E) societal marketing
Answer: A
10) Which of the following concepts is based on a customer-centered philosophy?

A) the product concept
B) the marketing concept
C) the production concept
D) the selling concept
E) the distribution concept
Answer: B
11) When customers don't know what they want or don't even know what's possible, the most
effective strategy is ________ marketing.
A) customer-driven
B) customer-driving
C) societal
D) functional
E) product
Answer: B
12) Which of the following concepts calls for sustainable marketing?

A) the societal marketing concept
B) the marketing concept
C) the selling concept
D) the production concept
E) the product concept
Answer: A
13) Some fast food restaurants offer tasty and convenient food at affordable prices, but in doing
so they contribute to the soaring obesity rates and environmental problems. In this case, these
fast-food restaurants have overlooked the ________ concept.
A) marketing
B) product
C) production
D) societal marketing
E) selling
Answer: D
14) ________ marketing is defined as socially and environmentally responsible marketing that
meets the present needs of consumers and businesses while also preserving or enhancing the
ability of future generations to meet their needs.
A) Customer-driven
B) Mass
C) Sustainable
D) Customer-driving
E) Ambush
Answer: C
15) The concept of shared value focuses on ________.

A) creating economic value in a way that also creates value for society
B) maximizing profits to satisfy shareholders
C) creating sales transactions instead of long-term customer relationships
D) building strategic supplier partnerships to create more value for investors
E) providing more financial incentives to sales team members
Answer: A
16) Customer evangelists are those who ________.

A) use personal selling methods to market products and services
B) tell others about their good experiences with a brand or product
C) use their expertise to influence people about specific products
D) work with quality-assurance teams to improve product safety
E) evaluate newly launched products in the marketplace
Answer: B
17) ________ refers to a channel stretching from raw materials to components to final products
that are carried to final buyers.
A) A supply chain
B) A marketing channel
C) A market segment
D) A demand chain
E) A marketing-mix channel
Answer: A
18) ________ refers to the portion of the customer's purchase that a company gets in its product
categories.
A) Value proposition
B) Share of customer
C) Brand equity
D) Customer lifetime value
E) Customer equity
Answer: B
19) ________ is the total combined customer lifetime values of all the company's current and
potential customers.
A) Share of customer
B) Value proposition
C) Customer equity
D) Market share
E) Customer-perceived value
Answer: C
20) ________ are customers who show low potential profitability and little projected loyalty.
A) True friends
B) Barnacles
C) Strangers
D) True believers
E) Butterflies
Answer: C
21) Customers who are classified as true believers ________.

A) are attracted to a company's competitor's deals and offers
B) have needs and wants that do not fit a company's offerings
C) are not very profitable for a company
D) tell others about their good experiences with a company
E) are projected to be less loyal to any brand
Answer: D
22) Briefly explain the societal marketing concept.

Answer: The societal marketing concept questions whether the pure marketing concept
overlooks possible conflicts between consumer short-run wants and consumer long-run welfare.
Is a firm that satisfies the immediate needs and wants of target markets always doing what's best
for its consumers in the long run? The societal marketing concept holds that marketing strategy
should deliver value to customers in a way that maintains or improves both the consumer's and
society's well-being. It calls for sustainable marketing, socially and environmentally responsible
marketing that meets the present needs of consumers and businesses while also preserving or
enhancing the ability of future generations to meet their needs. Companies like GE, Google, and
IBM are concerned not just with short-term economic gains, but with the well-being of their
customers, the depletion of natural resources vital to their businesses, the viability of key
suppliers, and the economic well-being of the communities in which they produce and sell.

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Chapter 1

1) ________ are defined as states of felt deprivation.

2) When backed by buying power, wants become ________.

5) Dividing a market into several sections of customers is known as ________.

10) Which of the following concepts is based on a customer-centered philosophy?

12) Which of the following concepts calls for sustainable marketing?

15) The concept of shared value focuses on ________.

16) Customer evangelists are those who ________.

21) Customers who are classified as true believers ________.

22) Briefly explain the societal marketing concept.

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