Exam (elaborations)
MGT 103 Quiz 1 (ch. 1-5 & readings) Questions and Answers (100% Pass)
- Course
- Institution
MGT 103 Quiz 1 (ch. 1-5 & readings) Questions and Answers (100% Pass)
[Show more]
Content preview
1|Page | © copyright 2024/2025 | Grade A+MGT 103 Quiz 1 (ch. 1-5 & readings)
Questions and Answers (100% Pass)
marketing
✓ the activity, set of institutions, and process for creating,
communicating, delivering and exchanging offerings that have value
for customers, clients, partners, and society at large
marketing is all about ___
✓ Consumers
Most new products fail. Why?
✓ bad marketing
marketing
✓ the discovering of, creation if, communication of, and finally, deivery of
value
4 Ps of marketing
✓ Product, price, promotion, place
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
product
✓ what is being offered (good, service, idea)
Price
✓ what is being exchanged for the product
Promotion
✓ How is this being communicated to the consuner
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
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ 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
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
Master01 | October, 2024/2025 | Latest update
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamArsenal. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now