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Exam (elaborations)

MGT 103 (Eberhard) Questions and Answers (100% Pass)

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  • MGT 103
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  • MGT 103

MGT 103 (Eberhard) Questions and Answers (100% Pass)

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  • October 29, 2024
  • 42
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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ExamArsenal
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MGT 103 (Eberhard) Questions and
Answers (100% Pass)
Tagline


✓ short EXTERNAL statements (3-6 words) intended to brand a positive

image* in the consumer's mind

✓ *tone and purpose




Marketing


✓ the activity for creating, communicating, delivering, and exchanging

offerings that benefit its customers, the organization, its stakeholders,

and society at large.



✓ 1. TO DISCOVER THE NEEDS AND WANTS OF PROSPECTIVE CUSTOMERS

✓ 2. AND SATISFY THEM




Need vs. Want


✓ A want is a need that is shaped by a person's knowledge, culture and

personality.




What's needed for marketing to occur?


Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 1) Two or more parties with unsatisfied needs.

✓ 2) A desire and ability on their part to have their needs satisfied.

✓ 3) A way for the parties to communicate.

✓ 4) Something to exchange.




the 4 P's (marketing mix factors)


✓ 1. Product (most important!!): a good, service, or idea to satisfy

✓ 2. Price: what is exchanged for the product

✓ 3. Promotion: a means of communication b/w the buyer and seller

✓ 4. Place: a means for getting the product to the customer.




Customer Value Proposition


✓ 1. operational excellence

✓ 2. product innovation

✓ 3. customer service




visionary organizations




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 1. establish a foundation

✓ 2. set a direction

✓ 3. create strategies to successfully develop and market their offerings




strategies in visionary organization


✓ -core values: stakeholders

✓ -mission or vision: mission statement

✓ -organizational culture




company culture


✓ -the "fabric" or "essence" of the company.

✓ -the "heartbeat" of the company (not the brain).

✓ -something that is pre-existing in a company's genetic code.




SMART Goals




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ Specific

✓ Measurable

✓ Attainable

✓ Realistic

✓ Timely




Most important goal?


✓ profit.




SWOT


✓ strength (build on)

✓ weakness (correct)

✓ opportunity (exploit)

✓ threat (avoid)




market cap


✓ stock price x # of outstanding shares




customer (market) segments examples




Master01 | October, 2024/2025 | Latest update

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