MGT 103 MARKETING EBERHARD
FINAL ACTUAL EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED
A+
◍ What are the five categories of product adopters?.
Answer: Innovators, Early Adopters, Early Majority, Late Majority,
Laggards
◍ What is the primary goal during the Growth stage of the Product Life
Cycle?.
Answer: To remain in this stage as long as possible.
◍ What is the difference between primary demand and selective demand?.
Answer: Primary demand is for the product category, while selective
demand is for a specific brand.
◍ What pricing strategy involves setting a low initial price and raising it later?.
Answer: Penetration pricing.
◍ What is skimming pricing?.
Answer: Setting a high initial price and lowering it over time.
◍ In-depth interviews.
Answer: limited number, somewhat unstructured, time consuming and
costly
◍ What are barriers to adoption?.
Answer: Factors that hinder the acceptance of a product, such as perceived
risk and psychological factors.
◍ semantic differential scale.
, Answer: a scale in which the opposite ends have one- or two-word
adjectives that have opposite meanings
◍ Likert Scale.
Answer: a numerical scale used to assess people's attitudes; it includes a set
of possible answers with labeled anchors on each extreme
◍ Decoy Effect (Asymmetric Dominance).
Answer: Ex. Drink sizesS - 9.99L - 10.99 "It's only $1 more"
◍ Green Marketing.
Answer: marketing efforts to produce, promote, and reclaim
environmentally sensitive products
◍ What does a Product/Brand Manager oversee?.
Answer: Product Life Cycle, New Product Development, Marketing
Program Implementation, Data Analysis.
◍ What is repositioning in marketing?.
Answer: Changing the value offered or targeting a new market in response
to competition.
◍ Cause marketing.
Answer: a business support a certain cause
◍ What is the significance of the 7 P's in marketing?.
Answer: They represent Product, Price, Place, Promotion, People, Physical
Environment, and Process.
◍ What does the demand curve represent?.
Answer: The relationship between price and quantity demanded.
◍ What is price elasticity of demand?.
Answer: A measure of how sensitive demand is to price changes.
◍ Triple Bottom Line.
Answer: recognition of the need for organizations to improve the state of
people, the planet, and profit simultaneously if they are to achieve
sustainable, long-term growth
, ◍ Value Proposition.
Answer: the unique value that a product or service provides to its customers
and how it is better than and different from those of competitors
◍ Green Washing.
Answer: Deceptive practices used to promote the perception that an
organizations product, aims or policies are environmentally friendly
◍ selective attention.
Answer: focusing on a certain thing while there are a bunch of other things
going on
◍ Core Values.
Answer: the fundamental, passionate, and enduring principles of an
organization that guide its conduct over time
◍ What is the formula for Total Revenue?.
Answer: Total Revenue (TR) = Price (P) x Quantity (Q).
◍ What is the difference between fixed pricing and dynamic pricing?.
Answer: Fixed pricing is a single price for all, while dynamic pricing
changes based on demand.
◍ Consolidation.
Answer: the process by which memories become stable in the brain
◍ What is the role of a middleman in marketing?.
Answer: An intermediary between the manufacturer and end-user markets.
◍ What are the different types of promotional elements?.
Answer: Advertising, Personal Selling, Publicity, Sales Promotion, Direct
Marketing.
◍ What is the purpose of a loss leader pricing strategy?.
Answer: To attract customers by pricing a product below cost.
◍ organizational culture.
Answer: the set of values, ideas, attitudes, and norms of behavior that is
FINAL ACTUAL EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED
A+
◍ What are the five categories of product adopters?.
Answer: Innovators, Early Adopters, Early Majority, Late Majority,
Laggards
◍ What is the primary goal during the Growth stage of the Product Life
Cycle?.
Answer: To remain in this stage as long as possible.
◍ What is the difference between primary demand and selective demand?.
Answer: Primary demand is for the product category, while selective
demand is for a specific brand.
◍ What pricing strategy involves setting a low initial price and raising it later?.
Answer: Penetration pricing.
◍ What is skimming pricing?.
Answer: Setting a high initial price and lowering it over time.
◍ In-depth interviews.
Answer: limited number, somewhat unstructured, time consuming and
costly
◍ What are barriers to adoption?.
Answer: Factors that hinder the acceptance of a product, such as perceived
risk and psychological factors.
◍ semantic differential scale.
, Answer: a scale in which the opposite ends have one- or two-word
adjectives that have opposite meanings
◍ Likert Scale.
Answer: a numerical scale used to assess people's attitudes; it includes a set
of possible answers with labeled anchors on each extreme
◍ Decoy Effect (Asymmetric Dominance).
Answer: Ex. Drink sizesS - 9.99L - 10.99 "It's only $1 more"
◍ Green Marketing.
Answer: marketing efforts to produce, promote, and reclaim
environmentally sensitive products
◍ What does a Product/Brand Manager oversee?.
Answer: Product Life Cycle, New Product Development, Marketing
Program Implementation, Data Analysis.
◍ What is repositioning in marketing?.
Answer: Changing the value offered or targeting a new market in response
to competition.
◍ Cause marketing.
Answer: a business support a certain cause
◍ What is the significance of the 7 P's in marketing?.
Answer: They represent Product, Price, Place, Promotion, People, Physical
Environment, and Process.
◍ What does the demand curve represent?.
Answer: The relationship between price and quantity demanded.
◍ What is price elasticity of demand?.
Answer: A measure of how sensitive demand is to price changes.
◍ Triple Bottom Line.
Answer: recognition of the need for organizations to improve the state of
people, the planet, and profit simultaneously if they are to achieve
sustainable, long-term growth
, ◍ Value Proposition.
Answer: the unique value that a product or service provides to its customers
and how it is better than and different from those of competitors
◍ Green Washing.
Answer: Deceptive practices used to promote the perception that an
organizations product, aims or policies are environmentally friendly
◍ selective attention.
Answer: focusing on a certain thing while there are a bunch of other things
going on
◍ Core Values.
Answer: the fundamental, passionate, and enduring principles of an
organization that guide its conduct over time
◍ What is the formula for Total Revenue?.
Answer: Total Revenue (TR) = Price (P) x Quantity (Q).
◍ What is the difference between fixed pricing and dynamic pricing?.
Answer: Fixed pricing is a single price for all, while dynamic pricing
changes based on demand.
◍ Consolidation.
Answer: the process by which memories become stable in the brain
◍ What is the role of a middleman in marketing?.
Answer: An intermediary between the manufacturer and end-user markets.
◍ What are the different types of promotional elements?.
Answer: Advertising, Personal Selling, Publicity, Sales Promotion, Direct
Marketing.
◍ What is the purpose of a loss leader pricing strategy?.
Answer: To attract customers by pricing a product below cost.
◍ organizational culture.
Answer: the set of values, ideas, attitudes, and norms of behavior that is
