UCSD MGT 103 Final Exam Questions
with Latest Update
5 categories (including %) of product adopters - Answer-Innovators - 2.5%
Early Adopters - 13.5 %
Early Majority - 34%
Late Majority - 34%
Laggards - 16%
most important group of product adopters - Answer-early majority
4 things majority adopters ARE - Answer-1. more cost averse
2. less tech savvy
3. less engaged
4. less forgiving about product faults
5 things majority adopters NEED - Answer-1. lower cost
2. ease/convenience
3. more persuasion
4. more reliability
5. more assistance
80/20 rules - Answer-80% of your business comes from 20% of your customers
most important thing to include in market share - Answer-yourself!!!!
who decides who to track in the market share? - Answer-marketing w/ input from sales
do you have to be profitable in your first year? - Answer-no
what % confidence should you be in your sales forecast? - Answer-between 70-85%
how much money do you need to hit to make 20/20 in revenue? - Answer-ONE
BILLION DOLLAR$
price: definition - Answer-what product/service is listed at
cost: definition - Answer-price paid for product/service
value: definition - Answer-ratio of perceived benefits to price
what % of Gross National Product does the service industry account for? - Answer-50%
class reading:
, on a scale of 1-10, how important does Jeff Bezos view the computer? - Answer-11 or
12
class reading:
Amazon's customer value proposition is:
a. operational efficiency
b. customer focus
c. innovation
d. all of the above - Answer-d. all of the above
the most common answer in marketing - Answer-"no" + reason why
the marketing decile is based on:
a. your own company
b. the entire market basket - Answer-b. the entire market basket
2 ways to grow business - Answer-1. steal business
2. expand market
in the customer decile, the number in the 10th decile (first column) should be ______
than the 1st decile (last column)
a. smaller
b. larger - Answer-a. smaller
marketing mix that Dexcom uses - Answer-1. product
2. price
3. promotion
4. ** partners **
5 steps of common sales process
(think: Old Farts Passing Are Smelly) - Answer-1. Opening
2. Fact Finding
3. Presentation (FAB)
4. Assess Interest/Answer Q's
5. Seek Commitment
what is FAB? - Answer-1. Features - Fact - what the product does
2. Advantages - "So.." - How it's different/better
3. Benefits - "What this means for you..."
with Latest Update
5 categories (including %) of product adopters - Answer-Innovators - 2.5%
Early Adopters - 13.5 %
Early Majority - 34%
Late Majority - 34%
Laggards - 16%
most important group of product adopters - Answer-early majority
4 things majority adopters ARE - Answer-1. more cost averse
2. less tech savvy
3. less engaged
4. less forgiving about product faults
5 things majority adopters NEED - Answer-1. lower cost
2. ease/convenience
3. more persuasion
4. more reliability
5. more assistance
80/20 rules - Answer-80% of your business comes from 20% of your customers
most important thing to include in market share - Answer-yourself!!!!
who decides who to track in the market share? - Answer-marketing w/ input from sales
do you have to be profitable in your first year? - Answer-no
what % confidence should you be in your sales forecast? - Answer-between 70-85%
how much money do you need to hit to make 20/20 in revenue? - Answer-ONE
BILLION DOLLAR$
price: definition - Answer-what product/service is listed at
cost: definition - Answer-price paid for product/service
value: definition - Answer-ratio of perceived benefits to price
what % of Gross National Product does the service industry account for? - Answer-50%
class reading:
, on a scale of 1-10, how important does Jeff Bezos view the computer? - Answer-11 or
12
class reading:
Amazon's customer value proposition is:
a. operational efficiency
b. customer focus
c. innovation
d. all of the above - Answer-d. all of the above
the most common answer in marketing - Answer-"no" + reason why
the marketing decile is based on:
a. your own company
b. the entire market basket - Answer-b. the entire market basket
2 ways to grow business - Answer-1. steal business
2. expand market
in the customer decile, the number in the 10th decile (first column) should be ______
than the 1st decile (last column)
a. smaller
b. larger - Answer-a. smaller
marketing mix that Dexcom uses - Answer-1. product
2. price
3. promotion
4. ** partners **
5 steps of common sales process
(think: Old Farts Passing Are Smelly) - Answer-1. Opening
2. Fact Finding
3. Presentation (FAB)
4. Assess Interest/Answer Q's
5. Seek Commitment
what is FAB? - Answer-1. Features - Fact - what the product does
2. Advantages - "So.." - How it's different/better
3. Benefits - "What this means for you..."
