MGT 103 FINAL Exam Questions and
Answers with Verified Solutions | Latest
Updated 2026
marketing Marketing is the discovery and creation of
communication and delivery of VALUE.
4 P's of marketing Product, Price, Promotion, Place
Maslow's Hierarchy of Needs physiological, safety, love/belonging,
esteem, self-
actualization. Connects to which products
are
'most necissary'
Value Proposition benefits that an organization promises to
the
consumer
Selling Concept vs Marketing Selling concept is the old way - when
Concept products are
sold and promoted, profit is through
volume of
sales. Marketing concept is when
customer needs
are marketed, profit determined by
customer
satisfaction
,marketing concept satisfying needs of the customer while also
satisfying the needs of the organization
Triple bottom line Profit, People, Planet. aka corporate
sustainability.
types of organizations for profit, non-profit, government agency.
organizational structure corporate level, strategic business unit
(SBU),
functional level
corporate level directs overall strategy for the entire
organization
Strategic Business Unit (SBU) a subsidiary of an organization that targets
a
specific market (e.g., Proctor & Gamble
(P&G) has
SBUs for various product categories, such
as
Beauty (e.g., Olay), Health (e.g.,
Vicks), and Home Care (e.g., Tide and
Febreze).
Each focuses on a distinct market
segment.)
Functional Level a more specific group of specialists
that serve certain functions (e.g. finance
department,
marketing department)
, Strategic Planning ongoing process of making decisions given
fixed
resources
Strategy Organization's long-term plan for
creating sustainable value. delivering a
distinctive customer experience while
achieving
its goals in a changing environment.
Core Values principles that guide us, non-visible.
Mission Statement formal declaration that describes the firm's
overall purpose and what it hopes to
achieve.
Organizations Goals what the firm hopes to accomplish in the
short and long terms - S.M.A.R.T.
Marketing Plan road map for the marketing actions of an
organization for a specified future time
period
SWOT analysis Strengths, Weaknesses, Opportunities,
Threats. You
should build on strengths, correct
weaknesses,
capitalize on opportunities, beware and
avoid
threats.
Answers with Verified Solutions | Latest
Updated 2026
marketing Marketing is the discovery and creation of
communication and delivery of VALUE.
4 P's of marketing Product, Price, Promotion, Place
Maslow's Hierarchy of Needs physiological, safety, love/belonging,
esteem, self-
actualization. Connects to which products
are
'most necissary'
Value Proposition benefits that an organization promises to
the
consumer
Selling Concept vs Marketing Selling concept is the old way - when
Concept products are
sold and promoted, profit is through
volume of
sales. Marketing concept is when
customer needs
are marketed, profit determined by
customer
satisfaction
,marketing concept satisfying needs of the customer while also
satisfying the needs of the organization
Triple bottom line Profit, People, Planet. aka corporate
sustainability.
types of organizations for profit, non-profit, government agency.
organizational structure corporate level, strategic business unit
(SBU),
functional level
corporate level directs overall strategy for the entire
organization
Strategic Business Unit (SBU) a subsidiary of an organization that targets
a
specific market (e.g., Proctor & Gamble
(P&G) has
SBUs for various product categories, such
as
Beauty (e.g., Olay), Health (e.g.,
Vicks), and Home Care (e.g., Tide and
Febreze).
Each focuses on a distinct market
segment.)
Functional Level a more specific group of specialists
that serve certain functions (e.g. finance
department,
marketing department)
, Strategic Planning ongoing process of making decisions given
fixed
resources
Strategy Organization's long-term plan for
creating sustainable value. delivering a
distinctive customer experience while
achieving
its goals in a changing environment.
Core Values principles that guide us, non-visible.
Mission Statement formal declaration that describes the firm's
overall purpose and what it hopes to
achieve.
Organizations Goals what the firm hopes to accomplish in the
short and long terms - S.M.A.R.T.
Marketing Plan road map for the marketing actions of an
organization for a specified future time
period
SWOT analysis Strengths, Weaknesses, Opportunities,
Threats. You
should build on strengths, correct
weaknesses,
capitalize on opportunities, beware and
avoid
threats.
