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