MGT 103 (Ehrich UCSD)EXAM TEST WITH GUARANTEED ACCURATE ANSWERS|VERIFIED
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MGT 103 (Ehrich UCSD
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MGT 103 (Ehrich UCSD
MGT 103 (Ehrich UCSD) EXAM TEST
MGT 103 (Ehrich UCSD)EXAM TEST WITH GUARANTEED ACCURATE ANSWERS|VERIFIED
What is marketing? - Accurate Answerthe activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, client...
MGT 103 (Ehrich UCSD) EXAM TEST
MGT 103 (Ehrich UCSD)EXAM TEST WITH GUARANTEED ACCURATE ANSWERS|
VERIFIED
What is marketing? - Accurate Answer✅✅the activity, set of institutions, and
processes for creating, communicating, delivering and exchanging offerings that
have value for customers, clients, partners, and society at large.
Value Proposition - Accurate Answer✅✅Benefits that an organization promises to
the customer: There must be a belief that this promised value will be delivered and
experienced.
Organizational Culture - Accurate Answer✅✅set of values, ideas, attitudes and
norms of behavior that is learned and shared among members of the organization.
Mission Statement - Accurate Answer✅✅A formal declaration that describes the
firm's overall purpose and what it hopes to achieve in terms of its customers,
products, and resources. It should be clear, concise, meaningful and inspirational.
, Market Penetration Strategy - Accurate Answer✅✅seeks to increase sales of
existing products to existing markets
Product Development Strategy - Accurate Answer✅✅create growth by selling
new products in existing markets
Market Development Strategy - Accurate Answer✅✅introduce existing products
to new markets
Diversification Strategy - Accurate Answer✅✅emphasize both new products and
new markets to achieve growth
Environmental Scan - Accurate Answer✅✅Process of continually acquiring
information on events occurring outside the organization. This is done to identify
and interpret potential trends that might impact the business.
Consumer Behavior - Accurate Answer✅✅reflects the totality of consumers'
decisions with respect to the acquisition, consumption and disposition of goods,
services, activities and ideas by (human) decision-making units over time.
Marketing Research - Accurate Answer✅✅Collecting, analyzing, and interpreting
data about customers, competitors, and the business environment to improve
marketing effectiveness
Primary Data - Accurate Answer✅✅Collected specifically for current
purpose•Could be internally or externally collected•Examples: Experiments, Test
Markets, Focus Groups, Surveys, Observations
Secondary Data - Accurate Answer✅✅Collected for some other purpose•External
(census, Gallup poll, etc.)•Internal (company records, sales data).
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