103. MGT 103 Marketing Exam Questions with Correct Answers
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Course
MGT103
Institution
MGT103
end of quarter presentation - Answer-Market research:
make it up, but say how many surveys you did, what type, and what your 6 questions that you were trying to answer with these surveys were.
Marketing Definition - Answer-1. to discover the needs and wants of prospective customers
2. satisfy...
103. MGT 103 Marketing Exam
Questions with Correct Answers
end of quarter presentation - Answer-Market research:
make it up, but say how many surveys you did, what type, and what your 6 questions
that you were trying to answer with these surveys were.
Marketing Definition - Answer-1. to discover the needs and wants of prospective
customers
2. satisfy them
commercial-centric view - Answer-
Marketing requirements - Answer-1. Two or more parties with unsatisfied needs.
2. A desire and ability on their part to have their needs satisfied.
3. A way for the parties to communicate.
4. Something to exchange .
Market Mix - Answer-The Four "P's" in Marketing:
Product, Price, Promotion, Place
Product - Answer-A good, service, or idea to satisfy the customer's needs.
Price - Answer-What is exchanged for the product
promotion - Answer-a means of communication between the seller and buyer
Place - Answer-a means of getting the product to the customer.
customer value proposition - Answer-a cluster of benefits that an organization promises
customers to satisfy their needs.
3 main types:
-Operational Excellence.
-Product Innovation.
-Customer Service.
Don Draper (Mad Men) - Answer-Best example of marketing and sales prof. has seen in
TV.
Target Marketing - Answer-One or more specific groups of potential consumers toward
which an organization directs its marketing program.
,Want vs need - Answer-a need that is shaped by a person's knowledge, culture, and
personality
Two companies with highest market caps (3 trillion dollars) - Answer-Apple and then
Amazon
Nick Woodman - Answer-Founder of GoPro, had a very successful year where he made
more than any other big name.
Visionary Organizations - Answer-(1) establish a foundation, (2) set a direction, and (3)
create strategies to successfully develop and market their offerings
Walmart revenue - Answer-#1 in Fortune 500 in revenue, but Wallstreet cares less
about what you did in the past and more about what you do now (market cap), which is
why Amazon is beating them now.
P: Best thing to invest in - Answer-yourself
the four - Answer-Book about Facebook, Google, Amazon, Apple
Market cap (capitalization) - Answer-(Stock Price) * (Number of Outstanding Shares)
Provides the value of the company, not revenue.
, Organizational Foundation (why) - Answer-Core values, mission, organizational culture
Core Values and Missions - Answer-'all the same', even if the company sucks (Wells
Fargo, BW)
Company Culture - Answer-Fabric/essence of the company.
Heartbeat, not brain. Something that is pre-existing in a company's genetic code.
-Apple has a culture today that Steve Jobs has created, even if he's been gone for so
long.
-Google has a lot of expectations on you, but give you the resources for it.
Accommodations to make you live there and not leave.
More accountability and responsibility on you equals - Answer-more money
Who had a meeting with Trump and Pence on their first day in the White House? -
Answer-Harley-Davidson rode in on their motorcycles.
Silent Killer or Unrelenting Joy - Answer-Company culture will be one or the other.
P: Upjohn died in 1920 but kept a good "family company" culture going to present
Organizational Direction (What) - Answer-Goals or Objectives
Example: For the 2019-20 UC, San Diego school year, increase the number of incoming
freshman applications by 6% (from 97,000 to 102,820) thereby placing us #3 among all
UC applications
Situation (SWOT) Analysis - Answer-strengths: build on a strength
weaknesses: correct (neutralize) a weakness. but spend more time on strengths.
opportunities: exploit an opportunity
threats: avoid a disaster
Internal - Answer-we, the company, control: Strengths, Weaknesses.
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