MGT 103 BATES MIDTERM Questions And
Answers
market -a group or groups of consumers that can be characterized by their interests or
buying habits
-desire and ability to buy an offering
industry -esists to serve a market
-collection of product and service providers positioned for a target au...
place -channel, inventory, logistics, distribution
uncontrollable forces -physical environment, economic, social aspects, technology,
competition, regulatory forces
value -either add more benefit or reduce cost
-based on ones own perception
-benefits=price ratio
perceptual map f
supermarket jam experiment more jame options were more attractive
but with less James, more people bought something
, MGT 103 BATES MIDTERM Questions And
Answers
great variety.. -greater expectation and greater opportunity cost
benefits vs features -consumers buy benefits, not features
-why how what
organizational structure 1. board of directors
2. corporate- level strategy
3. business unit level strategy
4. functional Lebel strategy
marketing myopia (downfall) -companies think of themselves as what the become to
narrow and dont see big picture
ex/ railroad, only for mail, didn't think bout transportation
SMART specific, measurable, attainable, relevant, time based
marketing plan focuses on the core offering, not looking at operations like a buisness does
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