MGT 103 MARKETING EBERHARD
FINAL FINAL TEST 2026 QUESTIONS
WITH CORRECT ANSWERS GRADED
A+
◍ marketing.
Answer: Marketing is the discovery and creation ofcommunication and
delivery of VALUE.
◍ 4 P's of marketing.
Answer: Product, Price, Promotion, Place
◍ Maslow's Hierarchy of Needs.
Answer: physiological, safety, love/belonging, esteem, self-actualization.
Connects to which products are 'most necissary'
◍ Value Proposition.
Answer: benefits that an organization promises to the consumer
◍ Selling Concept vs Marketing Concept.
Answer: Selling concept is the old way - when products are sold and
promoted, profit is through volume of sales. Marketing concept is when
customer needs are marketed, profit determined by customer satisfaction
◍ marketing concept.
Answer: satisfying needs of the customer while also satisfying the needs of
the organization
◍ Triple bottom line.
Answer: Profit, People, Planet. aka corporate sustainability.
◍ types of organizations.
, Answer: for profit, non-profit, government agency.
◍ organizational structure.
Answer: corporate level, strategic business unit (SBU), functional level
◍ What is marketing?.
Answer: the activity, set of institutions, and processes for creating,
communicating, delivering and exchanging offerings that have value for
customers, clients, partners, and society at large
◍ Value Proposition.
Answer: Benefits that an organization promises to the customer: There must
be a belief that this promised value will be delivered and experienced
◍ corporate level.
Answer: directs overall strategy for the entireorganization
◍ Organizational Culture.
Answer: set of values, ideas, attitudes and norms of behavior that is learned
and shared among members of the organization
◍ Strategic Business Unit (SBU).
Answer: a subsidiary of an organization that targets a specific market (e.g.,
Proctor & Gamble (P&G) has SBUs for various product categories, such as
Beauty (e.g., Olay), Health (e.g.,Vicks), and Home Care (e.g., Tide and
Febreze). Each focuses on a distinct market segment.)
◍ Functional Level.
Answer: a more specific group of specialiststhat serve certain functions (e.g.
finance department,marketing department)
◍ Strategic Planning.
Answer: ongoing process of making decisions given fixed resources
◍ Mission Statement.
Answer: A formal declaration that describes the firm's overall purpose and
what it hopes to achieve in terms of its customers, products, and resources.
It should be clear, concise, meaningful and inspirational.
, ◍ Market Penetration Strategy.
Answer: seeks to increase sales of existing products to existing markets
◍ Strategy.
Answer: Organization's long-term plan forcreating sustainable value.
delivering adistinctive customer experience while achievingits goals in a
changing environment.
◍ Core Values.
Answer: principles that guide us, non-visible.
◍ Organizational Culture.
Answer: set of values, ideas, attitudes and norms of behavior that is learned
and shared among members of the organization (e.g., no time clock)
◍ Mission Statement.
Answer: formal declaration that describes the firm'soverall purpose and
what it hopes to achieve.
◍ Organizations Goals.
Answer: what the firm hopes to accomplish in theshort and long terms -
S.M.A.R.T.
◍ Marketing Plan.
Answer: road map for the marketing actions of anorganization for a
specified future time period
◍ Product Development Strategy.
Answer: create growth by selling new products in existing markets
◍ SWOT analysis.
Answer: Strengths, Weaknesses, Opportunities, Threats. You should build
on strengths, correct weaknesses, capitalize on opportunities, beware and
avoid threats.
◍ Implimentation.
Answer: How to turn the marketing planinto results
FINAL FINAL TEST 2026 QUESTIONS
WITH CORRECT ANSWERS GRADED
A+
◍ marketing.
Answer: Marketing is the discovery and creation ofcommunication and
delivery of VALUE.
◍ 4 P's of marketing.
Answer: Product, Price, Promotion, Place
◍ Maslow's Hierarchy of Needs.
Answer: physiological, safety, love/belonging, esteem, self-actualization.
Connects to which products are 'most necissary'
◍ Value Proposition.
Answer: benefits that an organization promises to the consumer
◍ Selling Concept vs Marketing Concept.
Answer: Selling concept is the old way - when products are sold and
promoted, profit is through volume of sales. Marketing concept is when
customer needs are marketed, profit determined by customer satisfaction
◍ marketing concept.
Answer: satisfying needs of the customer while also satisfying the needs of
the organization
◍ Triple bottom line.
Answer: Profit, People, Planet. aka corporate sustainability.
◍ types of organizations.
, Answer: for profit, non-profit, government agency.
◍ organizational structure.
Answer: corporate level, strategic business unit (SBU), functional level
◍ What is marketing?.
Answer: the activity, set of institutions, and processes for creating,
communicating, delivering and exchanging offerings that have value for
customers, clients, partners, and society at large
◍ Value Proposition.
Answer: Benefits that an organization promises to the customer: There must
be a belief that this promised value will be delivered and experienced
◍ corporate level.
Answer: directs overall strategy for the entireorganization
◍ Organizational Culture.
Answer: set of values, ideas, attitudes and norms of behavior that is learned
and shared among members of the organization
◍ Strategic Business Unit (SBU).
Answer: a subsidiary of an organization that targets a specific market (e.g.,
Proctor & Gamble (P&G) has SBUs for various product categories, such as
Beauty (e.g., Olay), Health (e.g.,Vicks), and Home Care (e.g., Tide and
Febreze). Each focuses on a distinct market segment.)
◍ Functional Level.
Answer: a more specific group of specialiststhat serve certain functions (e.g.
finance department,marketing department)
◍ Strategic Planning.
Answer: ongoing process of making decisions given fixed resources
◍ Mission Statement.
Answer: A formal declaration that describes the firm's overall purpose and
what it hopes to achieve in terms of its customers, products, and resources.
It should be clear, concise, meaningful and inspirational.
, ◍ Market Penetration Strategy.
Answer: seeks to increase sales of existing products to existing markets
◍ Strategy.
Answer: Organization's long-term plan forcreating sustainable value.
delivering adistinctive customer experience while achievingits goals in a
changing environment.
◍ Core Values.
Answer: principles that guide us, non-visible.
◍ Organizational Culture.
Answer: set of values, ideas, attitudes and norms of behavior that is learned
and shared among members of the organization (e.g., no time clock)
◍ Mission Statement.
Answer: formal declaration that describes the firm'soverall purpose and
what it hopes to achieve.
◍ Organizations Goals.
Answer: what the firm hopes to accomplish in theshort and long terms -
S.M.A.R.T.
◍ Marketing Plan.
Answer: road map for the marketing actions of anorganization for a
specified future time period
◍ Product Development Strategy.
Answer: create growth by selling new products in existing markets
◍ SWOT analysis.
Answer: Strengths, Weaknesses, Opportunities, Threats. You should build
on strengths, correct weaknesses, capitalize on opportunities, beware and
avoid threats.
◍ Implimentation.
Answer: How to turn the marketing planinto results
