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MGT 103 - Midterm 1 Ehrich UCSD Questions And Answers
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MGT 103 - Midterm 1 Ehrich UCSD Questions And Answers Market Development Strategy introduce existing products to new markets Diversification Strategy emphasize both new products and new markets to achieve growth Environmental Scan Process of continually acquiring information on events occurring...

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  • October 23, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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MGT 103 - Midterm 1 Ehrich UCSD
Questions And Answers

Market Development Strategy introduce existing products to new markets




Diversification Strategy emphasize both new products and new markets to achieve growth




Environmental Scan Process of continually acquiring information on events occurring

outside the organization. This is done to identify and interpret potential trends that might impact

the business.




Consumer Behavior reflects the totality of consumers' decisions with respect to the

acquisition, consumption and disposition of goods, services, activities and ideas by (human)

decision-making units over time




Marketing Research Collecting, analyzing, and interpreting data about customers,

competitors, and the business environment to improve marketing effectiveness




Primary Data Collected specifically for current purpose•Could be internally or externally

collected•Examples: Experiments, Test Markets, Focus Groups, Surveys, Observations

, MGT 103 - Midterm 1 Ehrich UCSD
Questions And Answers

Secondary Data Collected for some other purpose•External (census, Gallup poll,

etc.)•Internal (company records, sales data)




Observational Research Making observations of behavior and recording those

observations in an objective manner•Natural (e.g., home, store) vs. artificial (e.g., lab)

settings•Most useful when investigating complex social settings; less useful for studying well-

defined hypotheses under specific conditions




Survey Research Personal Interview surveys -you can be flexible and adjust to the person

you're interviewing (costly)•Mail surveys & Phone surveys•Online surveys -becoming more and

more common




Experimental Research Test hypotheses about causal relationship between variables-Look

at effect of independent variable on dependent variable-Different groups of consumers get

different "treatments"-Helps determine CAUSALITY




3 Factors Necessary for Causation 1)Correlation


2) Temporal antecedence

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