MGT 103 BATES MIDTERM | 121 Questions and Correct Solutions 2024

MGT 103 BATES MIDTERM | 121 Questions and Correct Solutions 2024 marketing - Answer - started production based; engineers the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging offerings that have value for customers, clients, partners, and society at large Eras of marketing - Answer - 1. production 2. sales era 3. marketing concept era 4. customer relationship era need - Answer - precedes a want; underlying necessity -basic physical and psychological needs want - Answer - -our preferred way of satisfying our needs market - Answer - -a group or groups of consumers that can be characterized by their interests or buying habits -desire and ability to buy an offering industry - Answer - -esists to serve a market -collection of product and service providers positioned for a target audience target market - Answer - the group or groups of consumers an organization directs in marketing efforts to 4 p's - Answer - -cant control -product, price, promotion, place product - Answer - functionality, brand, packaging, services, warranty and services after ex/ red bull, skinny can to be different price - Answer - -list price, discounts, and credit terms promotion - Answer - -advertising, sales force, publicity, sales promotion place - Answer - -channel, inventory, logistics, distributi