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Exam (elaborations)

MGT 103 Final Burrit Demil Questions and Answers (100% Pass)

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  • MGT 103
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  • MGT 103

MGT 103 Final Burrit Demil Questions and Answers (100% Pass)

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  • October 29, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
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ExamArsenal
1|Page | © copyright 2024/2025 | Grade A+




MGT 103 Final Burrit Demil Questions
and Answers (100% Pass)
product


✓ a good, service, or idea consisting of a bundle of tangible and

intangible attributes that satisfies consumers' needs and is received in

exchange for money or something else of value




good


✓ A tangible product used to satisfy human wants




services


✓ intangible activities or benefits that an organization provides to satisfy

consumers' needs in exchange for money or something else of value




product life cycle


✓ describes the stages a new product goes through in the marketplace:

introduction, growth, maturity, and decline




marketing executives managing a product's life cycle in 3 ways




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 1. modify the product itself by altering its characteristics, such as

product quality, performance, or appearance

✓ 2. modify the market by finding new customers for the product,

increasing a product's use among existing customers, or creating a

new use situation for the product

✓ 3. they can reposition the product using any one or a combination of

marketing mix elements




Four unique elements of services


✓ intangibility, inconsistency, inseparability, inventory




prepurchase search


✓ a search for information that aids a specific acquisition decision




Five Dimensions of Service Quality


✓ reliability, responsiveness, assurance, empathy, tangibles




customer contact audit


✓ a flowchart of the points of interaction between consumer and service

provider




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

seven Ps of services marketing


✓ product, price, place, promotion, people, physical environment,

process




roles of internal marketing


✓ have the attitude, skills, and commitment needed to meet customer

expectations




Customer Experience Management (CEM)


✓ the process of managing the entire customer experience within the

company




price objectives


✓ profit, sales, market share, unit volume, survival, social responsibility




pricing constraints




Master01 | October, 2024/2025 | Latest update

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