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Exam (elaborations)

MGT 103 Final Demill Questions and Answers (100% Pass)

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  • MGT 103
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  • MGT 103

MGT 103 Final Demill 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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1|Page | © copyright 2024/2025 | Grade A+




MGT 103 Final Demill Questions and
Answers (100% Pass)
Four P's


✓ PRODUCT - features, brand name, packaging, service, warranty

✓ PRICE - list price, discounts, allowances, credit terms, payment period

✓ PLACE - advertising, personal selling, public relations, sales promotion,

direct marketing

✓ PROMOTION - outlets, channels, coverage, transportation, stock levels




Cohesive marketing program


✓ Also known as an integrated marketing program



✓ Its a combination of 4 P's




Do the 4P's stay the same all the time?


✓ No its always evolving. Tend to have one of the p's off, look at metrics

and evaluation plan and adjust accordingly




SWOT




Master01 | October, 2024/2025 | Latest update

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

✓ Tell company where they are at any given time



✓ INTERNAL= (more control over/can be fixed )Strengths, Opportunities

✓ EXTERNAL= (can fix but can respond/ and be prepared)

Weaknesses,Threats




Market Segmentation


✓ the process of dividing a market into (1)Identify market needs -what

problem do I need to solve for the market- in terms of product feature,

expense, quality, convenience (2) Link needs to actions- target market,

who has that problem. (3) Execute marketing program actions -

Marketing mix, 4ps




Seven stages of the new-product process




Master01 | October, 2024/2025 | Latest update

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

✓ 1. new product strategy development

✓ 2. idea generation (get from customers, employees, close to product)

✓ 3. screening and evaluation

✓ 4. business analysis

✓ 5. development

✓ 6. market testing

✓ 7. commercialization




Services


✓ Equipment based OR People based



✓ Equipment based --> Automated self service (ATM) Operated by

unskilled operators (taxis) Operated by skilled operators (Electric

utilities)



✓ People based --> Unskilled labor (lawn care) Skilled labor (plumbers)

Professionals (lawyers)




What would drive services to be equipment based OR people based




Master01 | October, 2024/2025 | Latest update

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