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MGT 103 - [Eberhard] Questions And Answers
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MGT 103 - [Eberhard] Questions And Answers Target Marketing one or more specific groups of potential consumers toward which an organization directs its marketing program Visionary organizations: foundation + direction = strategy 5 things visionary organizations do anticipate future events + r...

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  • October 23, 2024
  • 33
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 103 eberhard questions and answers

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  • MGT 103
  • MGT 103

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MGT 103 - [Eberhard]
Questions And Answers

Target Marketing one or more specific groups of potential consumers toward which an

organization directs its marketing program




Visionary organizations: foundation + direction = strategy




5 things visionary organizations do anticipate future events + respond quickly




specify its foundation




set direction




formulate strategies




execute on these strategies

, MGT 103 - [Eberhard]
Questions And Answers
Organizational foundations are... core values, mission or vision, organizational culture




Company culture: the fabric or essence of the company




Organizational directions are... goals or objectives (think smart)




What does SMART stand for specific, measurable, attainable, relevant, time-based




The planning phase of the strategic marketing process is... swot analysis




SWOT analysis focuses on a company's? strengths, weaknesses, opportunities, and threats




A marketing department relates to many ____________, ____________, and __________

people, organizations, and environmental forces

, MGT 103 - [Eberhard]
Questions And Answers
Environmental forces affect what? List the 5 environmental forces they affect the

organization, its suppliers, and its customers. They are social, economic, technological,

competitive, and regulatory




Social forces = demographic shifts, cultural changes




Economic forces = gross income, disposable income, discretionary income, savings




technological forces = changing technology, technology's impact on customer value,

technology enabled data analytics




competitive forces = alternative forms of competition, small businesses, barriers to entry




regulatory forces = laws protecting competition, laws affecting marketing mix actions,

self-regulation

, MGT 103 - [Eberhard]
Questions And Answers
barriers to entry are business practices or conditions that make it difficult for new firms to

enter the market




the competitive forces of barriers to entry are capital requirements, advertising

expenditures, product identity, distribution access, cost to switch




regulation consists of the restrictions that state and federal laws place on a business with

regard to the conduct of its activities




Customer buying factors features and capabilities, visceral/emotional connection, quality,

company image, price, recommendation, product warranty




Market research is the process of defining a marketing problem and opportunity,

systematically collecting and analyzing information, and recommending actions




Market analysis secondary market research; a high level fact based historical on the

market you are entering; lay of the land

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