MGT 103 Midterm 1 Study Guide Questions and Answers
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Course
MGT103
Institution
MGT103
The Marketing Mix - Answer-product, price, promotion, place
Value - Answer-how it benefits consumers, and the price of the item dictates the value
Need - Answer-essential necessity, psychological or physiological
Want - Answer-something that is wanted to satisfy the person
Organizationa...
Consideration Set - Answer-acceptable for future consideration
Cognitive Dissonance - Answer-uneasy feeling when you second guess yourself
Enduring Involvement - Answer-feels like an extension of yourself/your personality
(clothes, music, sports)
Situational Involvement - Answer-feels like it is helping your current situation (when
you're sick, medicine helps, when it rains, an umbrella helps you stay dry)
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