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MGT 103 Midterm (Bates); Questions and Answers 100% Pass

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MGT 103 Midterm (Bates); Questions and Answers 100% Pass marketing Correct answer-interpret the needs and wants of customers, communicate solutions, facilitate change, decision making is messy and may not be "right" answer sales era Correct answer-1930s-1970s production era Correct answer-s ...

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  • July 25, 2024
  • 13
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • Mgt 103
  • Mgt 103

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MGT 103 Midterm (Bates); Questions and
Answers 100% Pass
marketing Correct answer-interpret the needs and wants of customers, communicate
solutions, facilitate change, decision making is messy and may not be "right" answer




sales era Correct answer-1930s-1970s




production era Correct answer-1850-1930s




marketing concept era Correct answer-1950s-2000s




customer relationship era Correct answer-1980s-present




marketing concept Correct answer-identifies needs and wants of the customer and
provides it to them better than the competition can




need Correct answer-a physiological or psychological necessity, doesn't have to be daily




want Correct answer-the way you would best like to satisfy the need




market segmentation Correct answer-dividing the market into more similar groups of
consumers

, MGT 103 Midterm (Bates); Questions and
Answers 100% Pass
product positioning Correct answer-how you place an object in the mind of the consumer




market Correct answer-group(s) of consumers that can be characterized by their interests
or buying habits; have the desire and ability to buy an offering




industry Correct answer-exists to serve a market; a collection of products and service
providers positioned for a target audience




target market Correct answer-the group(s) of consumers an organization directs its
marketing efforts to




marketing mix Correct answer-product, price, promotion, place




perceptual map Correct answer-a subjective map from the mind of the consumer




variety Correct answer-in theory: having options increases the chances to find the perfect
flavor/style/etc




in practice: having too many options/variety requires too much cognitive ability




paradox of choice Correct answer-greater:

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