MGT 103 Quiz 1 QUESTIONS, CORRECT
ANSWERS, AND COMPLETE SOLUTIONS | 2026
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Practice questions for this set
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Terms in this set (89)
4 P's of marketing Product, Price, Promotion, Place
How to judge a product Not by its features, but by what it does for
us/what needs it fulfills
To satisfy customers The goal isn't to build a great product, but to
build a product that the consumer needs and
values
, Organizational culture the set of values, ideas, attitudes, and norms of
behavior that is learned and shared among the
members of an organization (culture impacts
everything, crucial to investigate)
Ex: Levi :"I just wanna go to my job and do my job
and go home, I don't care about culture". In truth,
he cares so much about culture that he has no
idea.
Evolution of the marketing concept Production Era (emphasizes the most efficient
ways to distribute and produce products)
Sales Era (marketing as a sales function, or a way
to move products out of warehouses to reduce
inventory)
Relationship era (prioritizes the satisfaction of
customers' needs and wants)
Triple bottom line (Profit, people, planet.
consequences of business decisions)
Organizational structure Corporate level
Strategic Business Unit (SBU)
Functional Level
ANSWERS, AND COMPLETE SOLUTIONS | 2026
UPDATE
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (89)
4 P's of marketing Product, Price, Promotion, Place
How to judge a product Not by its features, but by what it does for
us/what needs it fulfills
To satisfy customers The goal isn't to build a great product, but to
build a product that the consumer needs and
values
, Organizational culture the set of values, ideas, attitudes, and norms of
behavior that is learned and shared among the
members of an organization (culture impacts
everything, crucial to investigate)
Ex: Levi :"I just wanna go to my job and do my job
and go home, I don't care about culture". In truth,
he cares so much about culture that he has no
idea.
Evolution of the marketing concept Production Era (emphasizes the most efficient
ways to distribute and produce products)
Sales Era (marketing as a sales function, or a way
to move products out of warehouses to reduce
inventory)
Relationship era (prioritizes the satisfaction of
customers' needs and wants)
Triple bottom line (Profit, people, planet.
consequences of business decisions)
Organizational structure Corporate level
Strategic Business Unit (SBU)
Functional Level
