MGT 103 Midterm Demill Exam Questions
and Answers with Verified Solutions | Latest
Updated 2026
Marketing Seeks to: 1. Discover consumer needs through
research
2. Satisfy them with a marketing program
by having
the right combination of product, price,
promotion,
place
Requirements for marketing to Two+ parties with unsatisfied needs
occur A desire and ability to be satisfied
A way for the parties to communicate and
make
purchase
Something to exchange
Relationship marketing Developing and maintaining effective
customer
relationships
Links organization to individual customers,
employees, and suppliers for mutual long
term
benefit
,Marketing segments Similar groups of prospective buyers who
1. Have a
common need and 2. Will respond similarly
to a
marketing action
Market orientation focuses its (1) continuously collecting information
efforts about
on customers' needs, (2) sharing this
information
across departments, and (3) using it to
create
customer value
Customer relationship the process of identifying prospective
management buyers,
(CRM) understanding them intimately, and
developing
favorable long-term perceptions of the
organization and its offerings so that
buyers will
choose them in the marketplace and
become
advocates after their purchase.
Customer experience What firms THINK they offer customer
What customers SAY they receive
form utility production of the product or service
Place utility having the offering available where
consumers
need it
, Time utility having it available when needed
Possession utility value of making an item easy to purchase
through
the provision of credit cards or financial
arrangements
Utility the benefits or customer value received by
users of
the product
Business Portfolio Analysis (BCG Low share of high-growth market
Matrix) - Question Marks
Business Portfolio Analysis (BCG High share of high-growth markets
Matrix) - Stars
Business Portfolio Analysis (BCG Generates large amounts of cash
Matrix) - Cash Cows
Business Portfolio Analysis (BCG Low share of slow-growth markets
Matrix) - Dogs
BCG business portfolio analysis question marks - apple watch
for stars - iphones
Apple's consumer SBU cash cows - ipad/ipad mini
dogs - ipod
Business Portfolio Analysis (BCG Question mark --> Star --> cash cow -->
Matrix) product lifecycle dog
and Answers with Verified Solutions | Latest
Updated 2026
Marketing Seeks to: 1. Discover consumer needs through
research
2. Satisfy them with a marketing program
by having
the right combination of product, price,
promotion,
place
Requirements for marketing to Two+ parties with unsatisfied needs
occur A desire and ability to be satisfied
A way for the parties to communicate and
make
purchase
Something to exchange
Relationship marketing Developing and maintaining effective
customer
relationships
Links organization to individual customers,
employees, and suppliers for mutual long
term
benefit
,Marketing segments Similar groups of prospective buyers who
1. Have a
common need and 2. Will respond similarly
to a
marketing action
Market orientation focuses its (1) continuously collecting information
efforts about
on customers' needs, (2) sharing this
information
across departments, and (3) using it to
create
customer value
Customer relationship the process of identifying prospective
management buyers,
(CRM) understanding them intimately, and
developing
favorable long-term perceptions of the
organization and its offerings so that
buyers will
choose them in the marketplace and
become
advocates after their purchase.
Customer experience What firms THINK they offer customer
What customers SAY they receive
form utility production of the product or service
Place utility having the offering available where
consumers
need it
, Time utility having it available when needed
Possession utility value of making an item easy to purchase
through
the provision of credit cards or financial
arrangements
Utility the benefits or customer value received by
users of
the product
Business Portfolio Analysis (BCG Low share of high-growth market
Matrix) - Question Marks
Business Portfolio Analysis (BCG High share of high-growth markets
Matrix) - Stars
Business Portfolio Analysis (BCG Generates large amounts of cash
Matrix) - Cash Cows
Business Portfolio Analysis (BCG Low share of slow-growth markets
Matrix) - Dogs
BCG business portfolio analysis question marks - apple watch
for stars - iphones
Apple's consumer SBU cash cows - ipad/ipad mini
dogs - ipod
Business Portfolio Analysis (BCG Question mark --> Star --> cash cow -->
Matrix) product lifecycle dog
