MGT 103 BATES Midterm Exam | Questions & Answers (100 %Score) Latest Updated
2024/2025 Comprehensive Questions A+ Graded Answers | With Expert Solutions
marketing - started production based; engineers
the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging
offerings that have value for customers, clients, partners, and society at large
Eras of marketing - 1. production
2. sales era
3. marketing concept era
4. customer relationship era
need - precedes a want; underlying necessity
-basic physical and psychological needs
want - -our preferred way of satisfying our needs
market - -a group or groups of consumers that can be characterized by their interests or buying habits
-desire and ability to buy an offering
industry - -esists to serve a market
-collection of product and service providers positioned for a target audience
target market - the group or groups of consumers an organization directs in marketing efforts to
4 p's - -cant control
-product, price, promotion, place
product - functionality, brand, packaging, services, warranty and services after
, ex/ red bull, skinny can to be different
price - -list price, discounts, and credit terms
promotion - -advertising, sales force, publicity, sales promotion
place - -channel, inventory, logistics, distribution
uncontrollable forces - -physical environment, economic, social aspects, technology, competition,
regulatory forces
value - -either add more benefit or reduce cost
-based on ones own perception
-benefits=price ratio
perceptual map - f
supermarket jam experiment - more jame options were more attractive
but with less James, more people bought something
great variety.. - -greater expectation and greater opportunity cost
benefits vs features - -consumers buy benefits, not features
-why how what
organizational structure - 1. board of directors
2. corporate- level strategy
3. business unit level strategy
4. functional Lebel strategy
2024/2025 Comprehensive Questions A+ Graded Answers | With Expert Solutions
marketing - started production based; engineers
the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging
offerings that have value for customers, clients, partners, and society at large
Eras of marketing - 1. production
2. sales era
3. marketing concept era
4. customer relationship era
need - precedes a want; underlying necessity
-basic physical and psychological needs
want - -our preferred way of satisfying our needs
market - -a group or groups of consumers that can be characterized by their interests or buying habits
-desire and ability to buy an offering
industry - -esists to serve a market
-collection of product and service providers positioned for a target audience
target market - the group or groups of consumers an organization directs in marketing efforts to
4 p's - -cant control
-product, price, promotion, place
product - functionality, brand, packaging, services, warranty and services after
, ex/ red bull, skinny can to be different
price - -list price, discounts, and credit terms
promotion - -advertising, sales force, publicity, sales promotion
place - -channel, inventory, logistics, distribution
uncontrollable forces - -physical environment, economic, social aspects, technology, competition,
regulatory forces
value - -either add more benefit or reduce cost
-based on ones own perception
-benefits=price ratio
perceptual map - f
supermarket jam experiment - more jame options were more attractive
but with less James, more people bought something
great variety.. - -greater expectation and greater opportunity cost
benefits vs features - -consumers buy benefits, not features
-why how what
organizational structure - 1. board of directors
2. corporate- level strategy
3. business unit level strategy
4. functional Lebel strategy
