mgt 103- QUIZ Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
What is marketing? Marketing is the CREATION OF VALUE
for the
company, customer, and any collaborators
working
w/ the brand
Discover value
Create it
Communicate it
Deliver it
Requirements for successful Two or more parties w/ unsatisfied needs
marketing Desire and ability to satisfy needs
Someway for parties to communicate w/
each
other
Something to exchange
What are the four p's of Product- not always a good, can be
marketing? service, idea,
what is being offered
Price- what is being exchanged for the
product,
monetary
Promotion - how is this being
communicated to the
consumer
Place- how is the product getting to
consumer,
distribution
,What are environmental factors? not controlled by the company, external
what is a "want?" help us fulfill our needs, wants shaped by
our
personality, knowledge, culture, and
experience
what is an example of a need vs a Need smartphone, wants 16 pro max
want?
Value Proposition a bundle of benefits the organization
promises to
the consumer, that the consumers believe
will be
delivered upon, what the company
promises will
give to consumer and vice versa, this is
KEY in
understanding not everyone is your
customer,
target customer has to have what the
company
needs
Number one rule in marketing? make sure the way u use ur resource
makes sense
what are things that customers quality, safety, aesthetics, accessibility,
value? prestige,
convenience, affordability, timeliness, hard
to
bundle all of this into one product or
service
, What is the concept of marketing? striving to satisfy the needs of consumers
whole
also satisfying in the needs of the
organization,
Production era, sales era, marketing
concept era,
relationship era, triple bottom line
Corporate sustainability the ability to keep going or continue, thus,
making
sure we are taking care of the planet,
people, and
profits
What is an organization? a legal entity that consists of ppl who share
a
common mission
Examples of for profit orgs business firm, Nike, Facebook, Toyota,
Samsung
Examples of non profit orgs intended goal is benefitting the
organization/group
of ppl that they exist for, profit gets
funneled back
into the organization
What are government agencies? fed, state, county, city org
Levels of a corporation CFO, CMO, Boards
with Verified Solutions | Latest Updated 2026
What is marketing? Marketing is the CREATION OF VALUE
for the
company, customer, and any collaborators
working
w/ the brand
Discover value
Create it
Communicate it
Deliver it
Requirements for successful Two or more parties w/ unsatisfied needs
marketing Desire and ability to satisfy needs
Someway for parties to communicate w/
each
other
Something to exchange
What are the four p's of Product- not always a good, can be
marketing? service, idea,
what is being offered
Price- what is being exchanged for the
product,
monetary
Promotion - how is this being
communicated to the
consumer
Place- how is the product getting to
consumer,
distribution
,What are environmental factors? not controlled by the company, external
what is a "want?" help us fulfill our needs, wants shaped by
our
personality, knowledge, culture, and
experience
what is an example of a need vs a Need smartphone, wants 16 pro max
want?
Value Proposition a bundle of benefits the organization
promises to
the consumer, that the consumers believe
will be
delivered upon, what the company
promises will
give to consumer and vice versa, this is
KEY in
understanding not everyone is your
customer,
target customer has to have what the
company
needs
Number one rule in marketing? make sure the way u use ur resource
makes sense
what are things that customers quality, safety, aesthetics, accessibility,
value? prestige,
convenience, affordability, timeliness, hard
to
bundle all of this into one product or
service
, What is the concept of marketing? striving to satisfy the needs of consumers
whole
also satisfying in the needs of the
organization,
Production era, sales era, marketing
concept era,
relationship era, triple bottom line
Corporate sustainability the ability to keep going or continue, thus,
making
sure we are taking care of the planet,
people, and
profits
What is an organization? a legal entity that consists of ppl who share
a
common mission
Examples of for profit orgs business firm, Nike, Facebook, Toyota,
Samsung
Examples of non profit orgs intended goal is benefitting the
organization/group
of ppl that they exist for, profit gets
funneled back
into the organization
What are government agencies? fed, state, county, city org
Levels of a corporation CFO, CMO, Boards
