SECTION $1$: Choose the right answer $(60$ points$)$

$1)$ Which of the following is NOT an accurate description of modern marketing?

$*$ Marketing is the creation of value for customers.

$*$ Marketing involves managing profitable customer relationships.

$*$ Marketing emphasizes selling and advertising exclusively.

$*$ Marketing involves satisfying customers' needs.

$*$ Marketing is building value$-$laden exchange relationships with customers.

$2)$ Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through

$*$ research and development

$*$ innovation and creativity

$*$ manufacturing efficiencies

$*$ value creation and exchange

$*$ sales and revenue creation

$3)$ According to the five$-$step model of the marketing process, which of the following is the final step in creating value for customers?

$*$ designing a customer$-$driven marketing strategy

$*$ understanding the marketplace and customer needs

$*$ constructing an integrated marketing program that delivers superior value

$*$ building profitable relationships and creating customer delight

$*$ capturing value from customers to create profit and customer equity

$4)$ According to the five$-$step model of the marketing process, a company should

before

designing a customer$-$driven marketing strategy.

$*$ determine how to deliver superior value to customers

$*$ build profitable relationships with customers

$*$ use customer relationship management to create full partnerships with key customers

$*$ understand the marketplace and customer needs and wants

$*$ construct an integrated marketing program

$5)$ Marketing is managing profitable customer relationships.

Trug

False

$6)$

are human needs that are shaped by culture and individual personality.

$*$ Necessities

$*$ Wants

$*$ Demands

$*$ Values

$*$ Exchanges

$7)$ When backed by buying power, wants become$\_$A

A social needs

$*$ demands

$*$ physical needs

$*$ self$-$esteem needs

$*$ exchanges