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Exam (elaborations)

MGT 103 Final Exam with correct Answers

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  • MGT 103

MGT 103 Final Exam with correct Answers

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  • October 16, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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millyphilip
MGT 103 Final Exam with correct
Answers
Product, Price, Promotion, Place - Answers -What are the 4 P's?

Product - Answers -A good, service, or idea to satisfy the customer's needs

Price - Answers -What is exchanged for the product?

Promotion - Answers -A means of communication between the seller and buyer

Place - Answers -A means of getting the product to the customer

Price/Operational Excellence, Product Innovation, Customer Service - Answers -What
are the customer value props?

Target Marketing - Answers -One or more specific groups of potential consumers
toward which an organization directs its marketing program

Planning, Implementation, and Evaluation - Answers -What are the three phases of the
strategic marketing process?

Management - Answers -Who sets the direction for visionary organizations?

Marketing - Answers -Who formulates strategies for visionary organizations?

Sales - Answers -Who executes strategies in visionary organizations?

Company Culture - Answers -The "fabric", "essence", "heartbeat", or "genetic code" of a
company

Revenue - COGS = Profit - Answers -Profit Equation

Specific, Measurable, Attainable, Relevant, Time-Based goal - Answers -What does
SMART stand for?

Strengths, Weaknesses, Opportunities, Threats Analysis - Answers -What does SWOT
stand for?

Situation Analysis - Answers -What type of analysis is SWOT?

Build on Strength, Correct/Neutralize a Weakness, Exploit an Opportunity, Avoid a
disaster-laden Threat - Answers -What to do with each letter in SWOT analysis?

, Strengths and Weaknesses - Answers -What parts of SWOT are internal?

Opportunities and Threats - Answers -What parts of SWOT are external?

Market Capitalization = stock price * number of outstanding shares - Answers -What is
the equation for Market Cap?

Colorado - Answers -What state(s) in the US has the best health?

Mississippi/West Virginia - Answers -What state(s) in the US has the worst health?

Barriers to Entry - Answers -Business practices or conditions that make it difficult for
new firms to enter the market

Regulation - Answers -Restrictions state and federal laws place on business with regard
to the conduct of its activities

Positioning Statement - Answers -A concise description of your Target Market as well
as a compelling picture of how you want that market to perceive your brand

Marketing - Answers -Discover the needs and wants of prospective customers and
satisfy them

Market Research - Answers -The process of defining a marketing problem and
opportunity, systematically collecting and analyzing information, and recommending
actions

Market Analysis - Answers -A "high level", fact based, historical on the market you are
in or entering. A "Lay of the land"

72/Rate of Return = Time to double investment - Answers -What is the rule of 72?

Your product - Answers -Which product do you always include when determining what
to track for market share analysis?

Marketing - Answers -Which team decides what products to track for market share
analysis?

Dollars or units - Answers -How is market share measured?

Steal share, grow the market - Answers -What are the two primary ways to increase
sales through the market?

Cognitive Dissonance - Answers -The feeling of post purchase psychological tension or
anxiety

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