Page | 1
MGT 103 MIDTERM (BATES) 2026
QUESTIONS AND ANSWERS | A+
GRADED | WITH EXPERT SOLUTIONS
marketing - correct answer -interpret the needs and wants of
customers, communicate solutions, facilitate change, decision
making is messy and may not be "right" answer
sales era - correct answer -1930s-1970s
production era - correct answer -1850-1930s
marketing concept era - correct answer -1950s-2000s
customer relationship era - correct answer -1980s-present
, Page | 2
marketing concept - correct answer -identifies needs and wants of
the customer and provides it to them better than the competition
can
need - correct answer -a physiological or psychological necessity,
doesn't have to be daily
want - correct answer -the way you would best like to satisfy the
need
market segmentation - correct answer -dividing the market into
more similar groups of consumers
product positioning - correct answer -how you place an object in
the mind of the consumer
market - correct answer -group(s) of consumers that can be
characterized by their interests or buying habits; have the desire
and ability to buy an offering
, Page | 3
industry - correct answer -exists to serve a market; a collection of
products and service providers positioned for a target audience
target market - correct answer -the group(s) of consumers an
organization directs its marketing efforts to
marketing mix - correct answer -product, price, promotion, place
perceptual map - correct answer -a subjective map from the mind
of the consumer
variety - correct answer -in theory: having options increases the
chances to find the perfect flavor/style/etc
in practice: having too many options/variety requires too much
cognitive ability
paradox of choice - correct answer -greater:
MGT 103 MIDTERM (BATES) 2026
QUESTIONS AND ANSWERS | A+
GRADED | WITH EXPERT SOLUTIONS
marketing - correct answer -interpret the needs and wants of
customers, communicate solutions, facilitate change, decision
making is messy and may not be "right" answer
sales era - correct answer -1930s-1970s
production era - correct answer -1850-1930s
marketing concept era - correct answer -1950s-2000s
customer relationship era - correct answer -1980s-present
, Page | 2
marketing concept - correct answer -identifies needs and wants of
the customer and provides it to them better than the competition
can
need - correct answer -a physiological or psychological necessity,
doesn't have to be daily
want - correct answer -the way you would best like to satisfy the
need
market segmentation - correct answer -dividing the market into
more similar groups of consumers
product positioning - correct answer -how you place an object in
the mind of the consumer
market - correct answer -group(s) of consumers that can be
characterized by their interests or buying habits; have the desire
and ability to buy an offering
, Page | 3
industry - correct answer -exists to serve a market; a collection of
products and service providers positioned for a target audience
target market - correct answer -the group(s) of consumers an
organization directs its marketing efforts to
marketing mix - correct answer -product, price, promotion, place
perceptual map - correct answer -a subjective map from the mind
of the consumer
variety - correct answer -in theory: having options increases the
chances to find the perfect flavor/style/etc
in practice: having too many options/variety requires too much
cognitive ability
paradox of choice - correct answer -greater:
