MGT 103 Ch 1-5 Exam Questions and
Answers
What iiis iimarketing? ii- iiAnswers ii--creating, iicommunicating, iidelivering, iiand
iiexchanging iiofferings
-discovery iiof, iicreation iiof, iicommunication iiof iiand iifinally, iidelivery iiof iiVALUE
how iito iitel iiif iiits iia iigood iiproduct? ii- iiAnswers ii-Needs iivs iiwants
4 iiP's iiof iiMarketing ii- iiAnswers ii-Product, iiPrice, iiPlace, iiPromotion
Maslow's iiHierarchy iiof iiNeeds ii- iiAnswers ii-physiological, iisafety, iilove/belonging,
iiesteem/ego, iiself-actualization
Selling iiConcept iivs iiMarketing iiConcept ii- iiAnswers ii--The iiselling iiconcept iitakes iian
iiinside-out iiperspective ii(customer iiconque, iigetting iishort-term iisales iiwith iilittle
iiconcern iiabout iiwho iibuys iior iiwhy)
-The iimarketing iiconcept iitakes iian iioutside-in iiperspective ii(starts iiwith iia iiwell-defined
iimarket, iifocuses iion iicustomer iineeds, iiand iiintegrates iiall iithe iimarketing iiactivities iithat
iiaffect iicustomers)
Production iiEra ii- iiAnswers ii-a iimanagement iiphilosophy iithat iiemphasizes iithe iimost
iiefficient iiways iito iiproduce iiand iidistribute iiproducts
Sales iiEra ii- iiAnswers ii-a iimanagerial iiview iiof iimarketing iias iia iisales iifunction, iior iia
iiway iito iimove iiproducts iiout iiof iiwarehouses iito iireduce iiinventory
Relationship iiEra ii- iiAnswers ii-a iibusiness iiapproach iithat iiprioritizes iithe iisatisfaction iiof
iicustomers' iineeds iiand iiwants
Triple iiBottom iiLine ii- iiAnswers ii-Profit, iipeople, iiplanet: iiFinancial, iiSocial, iiand
iiEnvironmental iiconsequences iiof iibusiness iidecisions
What iiis iian iiOrganization? ii- iiAnswers ii-a iilegal iientity iithat iiconsists iiof iipeople iiwho
iishare iia iicommon iimission
Types iiof iiOrganizations ii- iiAnswers ii-for-profit, iinonprofit, iigovernment iiagencies
organization iistructure ii- iiAnswers ii-corporate iilevel, iistrategic iibusiness iiunit ii(SBU),
iifunctional iilevel
Answers
What iiis iimarketing? ii- iiAnswers ii--creating, iicommunicating, iidelivering, iiand
iiexchanging iiofferings
-discovery iiof, iicreation iiof, iicommunication iiof iiand iifinally, iidelivery iiof iiVALUE
how iito iitel iiif iiits iia iigood iiproduct? ii- iiAnswers ii-Needs iivs iiwants
4 iiP's iiof iiMarketing ii- iiAnswers ii-Product, iiPrice, iiPlace, iiPromotion
Maslow's iiHierarchy iiof iiNeeds ii- iiAnswers ii-physiological, iisafety, iilove/belonging,
iiesteem/ego, iiself-actualization
Selling iiConcept iivs iiMarketing iiConcept ii- iiAnswers ii--The iiselling iiconcept iitakes iian
iiinside-out iiperspective ii(customer iiconque, iigetting iishort-term iisales iiwith iilittle
iiconcern iiabout iiwho iibuys iior iiwhy)
-The iimarketing iiconcept iitakes iian iioutside-in iiperspective ii(starts iiwith iia iiwell-defined
iimarket, iifocuses iion iicustomer iineeds, iiand iiintegrates iiall iithe iimarketing iiactivities iithat
iiaffect iicustomers)
Production iiEra ii- iiAnswers ii-a iimanagement iiphilosophy iithat iiemphasizes iithe iimost
iiefficient iiways iito iiproduce iiand iidistribute iiproducts
Sales iiEra ii- iiAnswers ii-a iimanagerial iiview iiof iimarketing iias iia iisales iifunction, iior iia
iiway iito iimove iiproducts iiout iiof iiwarehouses iito iireduce iiinventory
Relationship iiEra ii- iiAnswers ii-a iibusiness iiapproach iithat iiprioritizes iithe iisatisfaction iiof
iicustomers' iineeds iiand iiwants
Triple iiBottom iiLine ii- iiAnswers ii-Profit, iipeople, iiplanet: iiFinancial, iiSocial, iiand
iiEnvironmental iiconsequences iiof iibusiness iidecisions
What iiis iian iiOrganization? ii- iiAnswers ii-a iilegal iientity iithat iiconsists iiof iipeople iiwho
iishare iia iicommon iimission
Types iiof iiOrganizations ii- iiAnswers ii-for-profit, iinonprofit, iigovernment iiagencies
organization iistructure ii- iiAnswers ii-corporate iilevel, iistrategic iibusiness iiunit ii(SBU),
iifunctional iilevel
