MGT 103 Exam Questions and Answers
Marketing ii- iiAnswers ii-the iiactivity iifor iicreating, iicommunicating, iiand iidelivering, iiand
iiexchanging iiofferings iithat iibenefit iiits iicustomers, iiorganization, iisteak iiholders, iiand
iisociety iiat iilarge
2 iigoals iiof iimarketing ii- iiAnswers ii-1. iito iidiscover iithe iineeds iiand iiwants iiof
iiprospective iicustomers ii
2. iito iisatisfy iithose iiwants iiand iineeds
Requirements iifor iimarketing iito iioccur ii- iiAnswers ii-1. iitwo iior iimore iiparties iiwith
iiunsatisfied iineeds
2. iidesire iiand iiability iito iihave iitheir iineeds iisatisfied
3. iia iiway iifor iithe iiparties iito iicommunicate
4. iisomething iito iiexchange
market ii- iiAnswers ii-people iiwith iiboth iithe iidesire iiand iiability iito iibuy iia iispecific
iioffering
4 iiPs ii(Controllable iifactors) ii- iiAnswers ii-Make iiup iithe iimarketing iimix
Product: iiGood, iiservice iior iiidea iito iisatisfy iia iiconsumer iineed
Price: iiWhat iiis iiexchanged iifor iithe iiproduct
Promotion: iimeans iiof iicommunication iibetween iibuyer iiand iiseller
Place: iia iimeans iiof iigetting iithe iiproduct iito iithe iiconsumer
Customer iiValue iiProposition ii- iiAnswers ii-cluster iiof iibenefits iithat iian iiorganization
iipromises iicustomers iito iisatisfy iitheir iineeds
3 iivalue iistrategies ii- iiAnswers ii-best iiprice, iibest iiproduct, iior iibest iiservice
Marketing iiConcept ii- iiAnswers ii-1. iithey iishould iistrive iito iisatisfy iithe iiconsumer's
iineeds
2. iithey iishould iiachieve iito iithe iiorganization's iigoals
Analyze iiMarket iiOpportunities, iiSelect iitarget iiAudience, iicreate iimarketing iimix,
iiimplementation iiand iicontrol
Customer iiRelationship iiManagement ii- iiAnswers ii-process iiof ii:
1.identifying iiprospective iibuyers, ii
2. iiunderstanding iithem iiintimately, ii
3. iideveloping iifavorable iilong-term iiperceptions iiof iithe iiorganization iiand iiits iiofferings ii-
->
, so iithat iibuyers iiwill iichoose iithem iiin iithe iimarketplace
societal iimarketing iiconcept ii- iiAnswers ii-the iiview iithat iiorganizations iishould iisatisfy
iithe iineeds iiof iiconsumers iiin iia iiway iithat iiprovides iifor iisocietys iiwell-being
product ii- iiAnswers ii-good, iiservice, iior iiidea iiconsisting iiof iia iibundle iiof iitangible iiand
iiintangible iiattributes iithat iisatisfies iiconsumer
The iiBusiness iiCycle ii- iiAnswers ii-Prosperity, iiRecession, iiRecovery, iiDepression,
iiInflation
Consumer iiBehavior ii- iiAnswers ii-Reflects iithe iitotality iiof iiconsumers'
decisions iiwith iirespect iito iithe iiACQUISITION,
CONSUMPTION iiand iiDISPOSITION iiof iigoods, iiservices, iiactivities iiand iiideas iiby
ii(human) iidecision-making iiunits iiover iitime
-Combinations iiof iipeople iimay iibe iiinvolved iiin iia iipurchase
-Different iiPeople iimay iiplay iidifferent iiroles ii(Buyer/End iiUser/Influencer ii)
Consumer iiDecision iiMaking iiProcess ii- iiAnswers ii-1. iiProblem iiRecognition
2. iiInformation iiSearch ii(Internal iiand iiExternal iiSearch)
3. iiEvaluation iiof iiAlternatives
4. iiPurchase
5. iiPost-Purchase iiEvaluation
Brand ii- iiAnswers ii-the iiemotional
connection iipeople iihave iiwith
your iibusiness iior iiproduct,
and iitheir iiperception iiis iireality
Positioning ii- iiAnswers ii-The iiact iiof iidesigning iithe iicompany's iioffer iiand iiimage iiso
iithat iiit iioccupies iia iidistinct iiand iivalued iiplace iiin iithe iitarget iicustomer's iiminds ii§
iiGood iipositioning iiguides iiyour iimarketing iiefforts iiby iiclarifying iiwhat iia iibrand iiis iiall
iiabout, iihow iiit iiis iiunique, iihow iiit iiis iisimilar, iiand
why iiconsumers iishould iibe iiinterested iiin iipurchasing iiand iiusing iiit
1. iiDetermine iiframe iiof iireference
2. iiEstablish iipoints iiof iiparity iior iipoints iiof iidifference
3. iiIdentify iipotential iicompetitive iidisadvantages
4 iiI's iiof iiService ii- iiAnswers ii-Intangibility
Inconsistency
Inseparability ii(Customers iimust iibe iipresent iiat iithe iiconsumption iiof iithe iiservice iiand
iicannot iitake iithe iiservice iihome, iishared iiburden iion iiboth iicustomer iiand iiprovider ii)
Inventory
Marketing ii- iiAnswers ii-the iiactivity iifor iicreating, iicommunicating, iiand iidelivering, iiand
iiexchanging iiofferings iithat iibenefit iiits iicustomers, iiorganization, iisteak iiholders, iiand
iisociety iiat iilarge
2 iigoals iiof iimarketing ii- iiAnswers ii-1. iito iidiscover iithe iineeds iiand iiwants iiof
iiprospective iicustomers ii
2. iito iisatisfy iithose iiwants iiand iineeds
Requirements iifor iimarketing iito iioccur ii- iiAnswers ii-1. iitwo iior iimore iiparties iiwith
iiunsatisfied iineeds
2. iidesire iiand iiability iito iihave iitheir iineeds iisatisfied
3. iia iiway iifor iithe iiparties iito iicommunicate
4. iisomething iito iiexchange
market ii- iiAnswers ii-people iiwith iiboth iithe iidesire iiand iiability iito iibuy iia iispecific
iioffering
4 iiPs ii(Controllable iifactors) ii- iiAnswers ii-Make iiup iithe iimarketing iimix
Product: iiGood, iiservice iior iiidea iito iisatisfy iia iiconsumer iineed
Price: iiWhat iiis iiexchanged iifor iithe iiproduct
Promotion: iimeans iiof iicommunication iibetween iibuyer iiand iiseller
Place: iia iimeans iiof iigetting iithe iiproduct iito iithe iiconsumer
Customer iiValue iiProposition ii- iiAnswers ii-cluster iiof iibenefits iithat iian iiorganization
iipromises iicustomers iito iisatisfy iitheir iineeds
3 iivalue iistrategies ii- iiAnswers ii-best iiprice, iibest iiproduct, iior iibest iiservice
Marketing iiConcept ii- iiAnswers ii-1. iithey iishould iistrive iito iisatisfy iithe iiconsumer's
iineeds
2. iithey iishould iiachieve iito iithe iiorganization's iigoals
Analyze iiMarket iiOpportunities, iiSelect iitarget iiAudience, iicreate iimarketing iimix,
iiimplementation iiand iicontrol
Customer iiRelationship iiManagement ii- iiAnswers ii-process iiof ii:
1.identifying iiprospective iibuyers, ii
2. iiunderstanding iithem iiintimately, ii
3. iideveloping iifavorable iilong-term iiperceptions iiof iithe iiorganization iiand iiits iiofferings ii-
->
, so iithat iibuyers iiwill iichoose iithem iiin iithe iimarketplace
societal iimarketing iiconcept ii- iiAnswers ii-the iiview iithat iiorganizations iishould iisatisfy
iithe iineeds iiof iiconsumers iiin iia iiway iithat iiprovides iifor iisocietys iiwell-being
product ii- iiAnswers ii-good, iiservice, iior iiidea iiconsisting iiof iia iibundle iiof iitangible iiand
iiintangible iiattributes iithat iisatisfies iiconsumer
The iiBusiness iiCycle ii- iiAnswers ii-Prosperity, iiRecession, iiRecovery, iiDepression,
iiInflation
Consumer iiBehavior ii- iiAnswers ii-Reflects iithe iitotality iiof iiconsumers'
decisions iiwith iirespect iito iithe iiACQUISITION,
CONSUMPTION iiand iiDISPOSITION iiof iigoods, iiservices, iiactivities iiand iiideas iiby
ii(human) iidecision-making iiunits iiover iitime
-Combinations iiof iipeople iimay iibe iiinvolved iiin iia iipurchase
-Different iiPeople iimay iiplay iidifferent iiroles ii(Buyer/End iiUser/Influencer ii)
Consumer iiDecision iiMaking iiProcess ii- iiAnswers ii-1. iiProblem iiRecognition
2. iiInformation iiSearch ii(Internal iiand iiExternal iiSearch)
3. iiEvaluation iiof iiAlternatives
4. iiPurchase
5. iiPost-Purchase iiEvaluation
Brand ii- iiAnswers ii-the iiemotional
connection iipeople iihave iiwith
your iibusiness iior iiproduct,
and iitheir iiperception iiis iireality
Positioning ii- iiAnswers ii-The iiact iiof iidesigning iithe iicompany's iioffer iiand iiimage iiso
iithat iiit iioccupies iia iidistinct iiand iivalued iiplace iiin iithe iitarget iicustomer's iiminds ii§
iiGood iipositioning iiguides iiyour iimarketing iiefforts iiby iiclarifying iiwhat iia iibrand iiis iiall
iiabout, iihow iiit iiis iiunique, iihow iiit iiis iisimilar, iiand
why iiconsumers iishould iibe iiinterested iiin iipurchasing iiand iiusing iiit
1. iiDetermine iiframe iiof iireference
2. iiEstablish iipoints iiof iiparity iior iipoints iiof iidifference
3. iiIdentify iipotential iicompetitive iidisadvantages
4 iiI's iiof iiService ii- iiAnswers ii-Intangibility
Inconsistency
Inseparability ii(Customers iimust iibe iipresent iiat iithe iiconsumption iiof iithe iiservice iiand
iicannot iitake iithe iiservice iihome, iishared iiburden iion iiboth iicustomer iiand iiprovider ii)
Inventory
