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Exam (elaborations)

MGT 103 Final Demill Exam Questions and Answers 100% Pass

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  • Module
  • MGT 103
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  • MGT 103

MGT 103 Final Demill Exam Questions and Answers 100% Pass Four P's - PRODUCT - features, brand name, packaging, service, warranty PRICE - list price, discounts, allowances, credit terms, payment period PLACE - advertising, personal selling, public relations, sales promotion, direct marketing P...

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  • January 8, 2025
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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MGT 103 Final Demill Exam Questions
and Answers 100% Pass

Four P's - ✔✔PRODUCT - features, brand name, packaging, service, warranty


PRICE - list price, discounts, allowances, credit terms, payment period


PLACE - advertising, personal selling, public relations, sales promotion, direct marketing


PROMOTION - outlets, channels, coverage, transportation, stock levels


Cohesive marketing program - ✔✔Also known as an integrated marketing program




Its a combination of 4 P's


Do the 4P's stay the same all the time? - ✔✔No its always evolving. Tend to have one of the p's off, look at

metrics and evaluation plan and adjust accordingly


SWOT - ✔✔Tell company where they are at any given time




INTERNAL= (more control over/can be fixed )Strengths, Opportunities


EXTERNAL= (can fix but can respond/ and be prepared) Weaknesses,Threats


Market Segmentation - ✔✔the process of dividing a market into (1)Identify market needs -what problem

do I need to solve for the market- in terms of product feature, expense, quality, convenience (2) Link




Author. Emily Charlene, ©2025 All Rights Reserved.

, 2|Page


needs to actions- target market, who has that problem. (3) Execute marketing program actions -

Marketing mix, 4ps


Seven stages of the new-product process - ✔✔1. new product strategy development


2. idea generation (get from customers, employees, close to product)


3. screening and evaluation


4. business analysis


5. development


6. market testing


7. commercialization


Services - ✔✔Equipment based OR People based




Equipment based --> Automated self service (ATM) Operated by unskilled operators (taxis) Operated by

skilled operators (Electric utilities)




People based --> Unskilled labor (lawn care) Skilled labor (plumbers) Professionals (lawyers)


What would drive services to be equipment based OR people based - ✔✔Skilled vs. Unskilled labor.

Unskilled labor costs too much money so equipment based labor makes more sense bc it is has lower

labor costs.


Which services create the most value - ✔✔the ones that have skilled/professionals that have had lots of

education




Author. Emily Charlene, ©2025 All Rights Reserved.

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