Exam (elaborations)
MGT 103 Quiz 1 with complete solutions
- Course
- Institution
MGT 103 Quiz 1 with complete solutions
[Show more]
Content preview
MGT 103 Quiz 1 with complete solutions4 P's of Marketing
Product, Price, Place, Promotion
value proposition
Benefits that an organization promises to the customer
marketing concept
Considering a customer's needs, using integrated marketing in order to profit
through customer satistfaction
production era
a management philosophy that emphasizes the most efficient ways to produce
and distribute products
sales era
a managerial view of marketing as a sales function, or a way to move products out
of warehouses to reduce inventory
relationship era
a business approach that prioritizes the satisfaction of customers' needs and
wants
Triple Bottom Line
Profit, People, Planet: Financial Social, and environmental consequences of
business decisions
For-profit organizations
, often called a business firm, is a privately owned organization such as Target or
Nike that serves its customers to earn a profit so that it can survive
organization
a legal entity that consists of people who share a common mission
non-profit organization
non-governmental organization that focuses on providing a service rather than a
profit
government agency
provides a specific service to its constituents (Census Bureau)
corporate level
top management directs overall strategy for the entire organization
Strategic business unit (SBU)
a subsidiary of an organization that targets a specific market
functional level
a more specific group of specialists that serve certain functions (e.g. finance
department, marketing department)
strategy
an organization's long-term course of action designed to deliver a unique
customer experience while achieving its goals
Core Values
the fundamental, passionate, and enduring principles of an organization that
guide its conduct over time
Organizational culture
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 millyphilip. 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)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now