Marketing Management, 14e (Kotler/Keller)
Chapter 1 Defining Marketing for the 21st Century

1) Which of the following statements about marketing is true?
A) It is of little importance when products are standardized.
B) It can help create jobs in the economy by increasing demand for goods and services.
C) It helps to build a loyal customer base but has no impact on a firm's intangible assets.
D) It is more important for bigger organizations than smaller ones.
E) It is seldom used by nonprofit organizations.
Answer: B
Page Ref: 4
Objective: 1
Difficulty: Easy

2) ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A) Marketing management
B) Knowledge management
C) Operations management
D) Strategic management
E) Distribution management
Answer: A
Page Ref: 5
Objective: 2
Difficulty: Easy

3) Identify the correct statement about marketing management.
A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.
B) It focuses mostly on monitoring the profitability of a company's products and services.
C) It focuses solely on attaining an organization's sales goals in an efficient manner.
D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy.
E) It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
Answer: E
Page Ref: 5
Objective: 2
Difficulty: Moderate

4) A social definition of marketing says ________.
A) effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers
B) a company should focus exclusively on