Exam (elaborations)
MGT 103 Questions and Answers
- Course
- Institution
MGT 103 Questions and Answers
[Show more]
Content preview
MGT 103 Questions andAnswers
Positioning statement is _____________ (internal/external).
✓✓~ internal (you and your team)
Most important definition of Marketing.
✓✓~ To discover the NEEDS and WANTS of prospective customers.
AND
To Satisfy them.
What are the four P's? *On midterm & Final*
✓✓~ Product, Price, Promotion, Place
Want VS Need
✓✓~ A *want* is a *need* this is shaped by a person's *knowledge,
culture*, and *personality*.
,What's needed for Marketing to Occur?
✓✓~ 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
Product
✓✓~ A good, service, or idea to satisfy the customer's needs
Price
✓✓~ What is exchanged for the product
Promotion
✓✓~ A means of communication between the seller and buyer
Place
✓✓~ A means for getting the product to the customer
Target Marketing
, ✓✓~ One or more specific groups of potential consumers toward which
an organization directs its marketing program.
Marketing is the activity for creating, communicating, __________ offerings that
benefit customers, the organization, its stakeholders, and society at large.
✓✓~ delivering, and exchanging
Maddie's mom needs a new tablet device, so you recommend that she read the
latest ComputerWorld magazine because it has reviews of Apple's new iPad Air and
Samsung's new Galaxy S 5. Maddie finds a copy of the magazine in the student
bookstore. What is needed next in order for marketing to occur?
✓✓~ She must check to see if she has sufficient cash (or credit) to
purchase the magazine at the bookstore.
A proposed law in New Jersey would ban the use of tanning beds by anyone under
the age of 18. This restriction would be an example of which environmental force?
✓✓~ Regulatory
The essence of successful marketing and gaining loyal customers is for firms to
focus on __________.
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)
73918 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now