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MGT 103 Quiz 1 (ch. 1-5 & readings) Exam Questions And Answers $16.49
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MGT 103 Quiz 1 (ch. 1-5 & readings) Exam Questions And Answers
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MGT 103 Quiz 1 (ch. 1-5 & readings) Exam Questions And Answers Place How is the product getting to the consumer value proposition benefits that an organization promises to the costumer: there must be a belief that this promised value will be delivered and experience; both consumer and company...

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  • October 23, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • MGT 103
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MGT 103 Quiz 1 (ch. 1-5 & readings) Exam
Questions And Answers

Place How is the product getting to the consumer




value proposition benefits that an organization promises to the costumer: there must be a

belief that this promised value will be delivered and experience; both consumer and company

must have something to exchange (ie, money, time, effort)




Marketing concept Customer needs —> integrated marketing —> profits through

customer satisfaction




Evolution of the marketing concept production, sales, relationship, triple bottom line

(corporate sustainability)




Market research Analyze market opportunities, select target audience, formulate the

marketing mix, implementation and control




Types of organizations for-profit, nonprofit, government agencies

, MGT 103 Quiz 1 (ch. 1-5 & readings) Exam
Questions And Answers
Organization structure Corporate level, strategic business unit (SBU), functional level




Strategy An organization's long term course of action designed to deliver a unique

customer experience while achieving its goal




Core values Fundamental, passionate, and enduring principles that guide the conduct of an

organization, must be communicated and supported by top management as well as all employees




Organizational culture Set of values, ideas, attitudes, and norms of behavior that is learned

and shared among members of the organization




Mission Statement A formal declaration that describes the firm's overall purpose and what

it hopes to achieve in terms of its customers, products, and resources. It should be clear, concise,

meaningful and inspirational




SMART Specific, Measurable, Attainable, Realistic, Timely

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