MGT 103 COMPREHENSIVE TEST ANSWERS AND
QUESTIONS SET A+
✔✔Taxes and "necessities" account for _______ % of income - ✔✔75% of Income
✔✔_____________ income is ________% of income after taxes and necessities -
✔✔Discretionary; 25%
✔✔US Median Income - ✔✔35,000
✔✔Define *Barriers to entry*? - ✔✔Business practices or conditions that make it difficult
for new firms to enter the market.
✔✔What are some *Barriers to entry* and examples of struggling or failed companies? -
✔✔1. Capital requirements
2. Advertising expenditures
3. Product identity
4. Distribution access
5. Cost to switch
EX: Blockbuster video empire lost to Netflix & redox. Barnes and Nobel lost to Amazon.
Why Sharks don't make deals on shark tank
✔✔Regulations consist of ______________. - ✔✔the restrictions state and federal laws
place on business with regard to the conduct of its activities.
✔✔Things you should focus on (by decade) - ✔✔in your 20's: Learn
in your 30's: Burn (go fast, seize opportunities)
in your 40's: Earn $$$
in your 50's: Survive
✔✔What company is not Head Quarters in SD?
Jack in the Box
Taco Bell
, Petco
WD-40
Daphne's
Chicken of the Sea - ✔✔Taco Bell is in Irvine.
✔✔WD40: Stands for ________________. In 1993, WD40 was in ________% of U.S.
homes - ✔✔Water Displacement (40th try). Was in 80% of US homes.
✔✔WD40 Culture type by Garry Ridge? - ✔✔Tribal(Family) culture- "In the end, all we
really have is memories"
"profit is the applause of doing good work and having engage employees"
✔✔How do you market WD40? - ✔✔1. Do you need me?
2. Do you know me?
3. Can you buy me?
✔✔CEO Traits with inclusion of Garry Ridge perspective. - ✔✔1. IQ
2. EQ
3. Stamina
4. Resilience
Garry Ridge "adds"
5. Visionary- simple big picture, positive vision of the future.
6. Exemplar- calm/courage under pressure
7. Mentor/Learner/Teacher (Focus on others)
8. Generosity with success (to/for others)
✔✔Every marketing decision you make regarding your brand has to
___________________________ your *positioning statement* - ✔✔align with and
support
✔✔Positioning Statement - ✔✔A concise description of your Target Market as well as a
*compelling* picture of how you want that market to *perceive* your brand.
-A *guidepost* for your marketing efforts.
✔✔Positioning statement helps to... - ✔✔maintain focus on your brand and its value.
✔✔A (brand) tagline is an ______________(internal/external) statement intended for
_____________. - ✔✔External
Customers & potential customers.
✔✔What are the guidelines for (strong) *Positioning Statements*? - ✔✔1. It is simple,
memorable, and tailored to your market.
QUESTIONS SET A+
✔✔Taxes and "necessities" account for _______ % of income - ✔✔75% of Income
✔✔_____________ income is ________% of income after taxes and necessities -
✔✔Discretionary; 25%
✔✔US Median Income - ✔✔35,000
✔✔Define *Barriers to entry*? - ✔✔Business practices or conditions that make it difficult
for new firms to enter the market.
✔✔What are some *Barriers to entry* and examples of struggling or failed companies? -
✔✔1. Capital requirements
2. Advertising expenditures
3. Product identity
4. Distribution access
5. Cost to switch
EX: Blockbuster video empire lost to Netflix & redox. Barnes and Nobel lost to Amazon.
Why Sharks don't make deals on shark tank
✔✔Regulations consist of ______________. - ✔✔the restrictions state and federal laws
place on business with regard to the conduct of its activities.
✔✔Things you should focus on (by decade) - ✔✔in your 20's: Learn
in your 30's: Burn (go fast, seize opportunities)
in your 40's: Earn $$$
in your 50's: Survive
✔✔What company is not Head Quarters in SD?
Jack in the Box
Taco Bell
, Petco
WD-40
Daphne's
Chicken of the Sea - ✔✔Taco Bell is in Irvine.
✔✔WD40: Stands for ________________. In 1993, WD40 was in ________% of U.S.
homes - ✔✔Water Displacement (40th try). Was in 80% of US homes.
✔✔WD40 Culture type by Garry Ridge? - ✔✔Tribal(Family) culture- "In the end, all we
really have is memories"
"profit is the applause of doing good work and having engage employees"
✔✔How do you market WD40? - ✔✔1. Do you need me?
2. Do you know me?
3. Can you buy me?
✔✔CEO Traits with inclusion of Garry Ridge perspective. - ✔✔1. IQ
2. EQ
3. Stamina
4. Resilience
Garry Ridge "adds"
5. Visionary- simple big picture, positive vision of the future.
6. Exemplar- calm/courage under pressure
7. Mentor/Learner/Teacher (Focus on others)
8. Generosity with success (to/for others)
✔✔Every marketing decision you make regarding your brand has to
___________________________ your *positioning statement* - ✔✔align with and
support
✔✔Positioning Statement - ✔✔A concise description of your Target Market as well as a
*compelling* picture of how you want that market to *perceive* your brand.
-A *guidepost* for your marketing efforts.
✔✔Positioning statement helps to... - ✔✔maintain focus on your brand and its value.
✔✔A (brand) tagline is an ______________(internal/external) statement intended for
_____________. - ✔✔External
Customers & potential customers.
✔✔What are the guidelines for (strong) *Positioning Statements*? - ✔✔1. It is simple,
memorable, and tailored to your market.
