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Exam (elaborations)

MGT 103 Questions And Answers

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  • MGT 103
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  • MGT 103

MGT 103 Questions And Answers Customer Value Proposition cluster of benefits that an organization promises customers to satisfy their needs 3 value strategies best price, best product, or best service Marketing Concept 1. they should strive to satisfy the consumer's needs 2. they should achie...

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  • October 23, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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UpperClass
MGT 103 Questions And Answers

Customer Value Proposition cluster of benefits that an organization promises customers to

satisfy their needs




3 value strategies best price, best product, or best service




Marketing Concept 1. they should strive to satisfy the consumer's needs


2. they should achieve to the organization's goals




Analyze Market Opportunities, Select target Audience, create marketing mix, implementation

and control




Customer Relationship Management process of :


1.identifying prospective buyers,

2. understanding them intimately,

3. developing favorable long-term perceptions of the organization and its offerings -->

so that buyers will choose them in the marketplace

, MGT 103 Questions And Answers
societal marketing concept the view that organizations should satisfy the needs of

consumers in a way that provides for societys well-being




product good, service, or idea consisting of a bundle of tangible and intangible attributes

that satisfies consumer




The Business Cycle Prosperity, Recession, Recovery, Depression, Inflation




Consumer Behavior Reflects the totality of consumers'


decisions with respect to the ACQUISITION,

CONSUMPTION and DISPOSITION of goods, services, activities and ideas by (human)

decision-making units over time

-Combinations of people may be involved in a purchase

-Different People may play different roles (Buyer/End User/Influencer )




Consumer Decision Making Process 1. Problem Recognition


2. Information Search (Internal and External Search)

3. Evaluation of Alternatives

, MGT 103 Questions And Answers
4. Purchase

5. Post-Purchase Evaluation




Brand the emotional


connection people have with

your business or product,

and their perception is reality




Positioning The act of designing the company's offer and image so that it occupies a

distinct and valued place in the target customer's minds § Good positioning guides your

marketing efforts by clarifying what a brand is all about, how it is unique, how it is similar, and

why consumers should be interested in purchasing and using it

1. Determine frame of reference

2. Establish points of parity or points of difference

3. Identify potential competitive disadvantages




4 I's of Service Intangibility


Inconsistency

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