MGT 6311 MIDTERM FINAL PAPER SOLVED
QUESTIONS COMPLETE ANSWERS
BUNDLED RESOURCE
●● Market share
Answer: In strategic management and marketing, market share is the
percentage or proportion of the total available market or market
segment that is being serviced by a company.
●● Pay per click (PPC)
Answer: Advertising where the advertiser pays only for each click on
their advert, not for the opportunity for it to be seen or
displayed.
●● Return on investment
(ROI)
Answer: The ratio of cost to profit.
●● Search engine optimisation
(SEO)
Answer: The practice that aims to improve a website's ranking for
specific keywords in the search engines.
,●● Strategy
Answer: A set of ideas that outline how a product or brand will be
positioned and achieve its objectives. This guides decisions on how to
create,
distribute, promote and price the product or service. Looks at 4 pillars:
environment, business, customers, competitors
●● Tactic
Answer: A specific action or method that contributes to achieving a goal
●● Porter's 5 Forces
Answer: Power of suppliers, power of customers, threat of new entrants,
threat of substitute products --> competitive rivalry within industry
●● 5 P's of marketing mix
Answer: Product, price, place, promotion, people
●● SWOT
Answer: Strength, weakness, opportunities, threats
●● What do objectives need to be?
Answer: SMART: specific, measurable, attainable, realistic, time-bound
, ●● Attention economy
Answer: The idea that human attention is a scarce commodity i.e. seeing
attention as a limited resource.
●● Customer experience map
Answer: A visual representation of the customers' flow from beginning
to end of the purchase experience, including their needs, wants,
expectations and overall experience.
●● Customer persona
Answer: A detailed description of a fictional person to help a brand
visualise a segment of its target market.
●● Global citizen
Answer: A person who identifies as part of a world community and
works toward building the values and practices of that community
●● Tribe
Answer: A social group linked by a shared belief or interest.
●● Product
Answer: An item sold by a brand
QUESTIONS COMPLETE ANSWERS
BUNDLED RESOURCE
●● Market share
Answer: In strategic management and marketing, market share is the
percentage or proportion of the total available market or market
segment that is being serviced by a company.
●● Pay per click (PPC)
Answer: Advertising where the advertiser pays only for each click on
their advert, not for the opportunity for it to be seen or
displayed.
●● Return on investment
(ROI)
Answer: The ratio of cost to profit.
●● Search engine optimisation
(SEO)
Answer: The practice that aims to improve a website's ranking for
specific keywords in the search engines.
,●● Strategy
Answer: A set of ideas that outline how a product or brand will be
positioned and achieve its objectives. This guides decisions on how to
create,
distribute, promote and price the product or service. Looks at 4 pillars:
environment, business, customers, competitors
●● Tactic
Answer: A specific action or method that contributes to achieving a goal
●● Porter's 5 Forces
Answer: Power of suppliers, power of customers, threat of new entrants,
threat of substitute products --> competitive rivalry within industry
●● 5 P's of marketing mix
Answer: Product, price, place, promotion, people
●● SWOT
Answer: Strength, weakness, opportunities, threats
●● What do objectives need to be?
Answer: SMART: specific, measurable, attainable, realistic, time-bound
, ●● Attention economy
Answer: The idea that human attention is a scarce commodity i.e. seeing
attention as a limited resource.
●● Customer experience map
Answer: A visual representation of the customers' flow from beginning
to end of the purchase experience, including their needs, wants,
expectations and overall experience.
●● Customer persona
Answer: A detailed description of a fictional person to help a brand
visualise a segment of its target market.
●● Global citizen
Answer: A person who identifies as part of a world community and
works toward building the values and practices of that community
●● Tribe
Answer: A social group linked by a shared belief or interest.
●● Product
Answer: An item sold by a brand
