MGT 103 FINAL Exam | Questions with 100% Correct Answers | Verified |
Latest Update 2026
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1. marketing Marketing is the discovery and creation of
communication and delivery of VALUE.
2. 4 P's of market- Product, Price, Promotion, Place
ing
3. Maslow's Hierar- physiological, safety, love/belonging, esteem, self-actualization. Connects to
chy of Needs which products are 'most necissary'
4. Value Proposi- benefits that an organization promises to the consumer
tion
5. Selling Concept Selling concept is the old way - when products are sold and promoted, profit
vs Marketing is through volume of sales. Marketing concept is when customer needs are
Concept marketed, profit determined by customer satisfaction
6. marketing con- satisfying needs of the customer while also satisfying the needs of the organiza-
cept tion
7. Triple bottom Profit, People, Planet. aka corporate sustainability.
line
8. types of organi- for profit, non-profit, government agency.
zations
9. organizational corporate level, strategic business unit (SBU), functional level
structure
10. corporate level directs overall strategy for the entire
organization
, MGT 103 FINAL Exam | Questions with 100% Correct Answers | Verified |
Latest Update 2026
Study online at https://quizlet.com/_jgjw2w
11. Strategic Busi- a subsidiary of an organization that targets a specific market (e.g., Proctor &
ness Unit (SBU) 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.)
12. Functional Level a more specific group of specialists
that serve certain functions (e.g. finance department,
marketing department)
13. Strategic Plan- ongoing process of making decisions given fixed resources
ning
14. Strategy Organization's long-term plan for
creating sustainable value. delivering a
distinctive customer experience while achieving
its goals in a changing environment.
15. Core Values principles that guide us, non-visible.
16. Organizational set of values, ideas, attitudes and norms of behavior that is learned and shared
Culture among members of the organization (e.g., no time clock)
17. Mission State- formal declaration that describes the firm's
ment overall purpose and what it hopes to achieve.
18. Organizations what the firm hopes to accomplish in the
Goals short and long terms - S.M.A.R.T.
19. Marketing Plan road map for the marketing actions of an
organization for a specified future time period
, MGT 103 FINAL Exam | Questions with 100% Correct Answers | Verified |
Latest Update 2026
Study online at https://quizlet.com/_jgjw2w
20. SWOT analysis Strengths, Weaknesses, Opportunities, Threats. You should build on strengths,
correct weaknesses, capitalize on opportunities, beware and avoid threats.
21. Implimentation How to turn the marketing plan
into results
22. Evaluation and Measuring actual performance, comparing performance to the objectives that
Controll were set, making adjustments as needed. EX:
-Return on marketing investment (ROMI)
- New customer acquisition cost
- Customer retention rates
- Customer satisfaction
- Brand knowledge
23. Environmental Process of continually acquiring information on events occurring outside the or-
Scan ganization. This is done to identify and interpret potential trends that might impact
the business. Ex: economical, competitive, sociocultural, legal, technological
24. Sociocultural En- changes in cultural values, ideas, attitudes. ex: gender roles
viorment
25. Economic envior- indicators of economic health, development, stage of business cycle.
ment
26. gross income vs. gross income is total amount made, disposable is money left after taxes used for
disposable in- necessities, discretionary income anything left after necessities.
come vs. discre-
tionary income.
Latest Update 2026
Study online at https://quizlet.com/_jgjw2w
1. marketing Marketing is the discovery and creation of
communication and delivery of VALUE.
2. 4 P's of market- Product, Price, Promotion, Place
ing
3. Maslow's Hierar- physiological, safety, love/belonging, esteem, self-actualization. Connects to
chy of Needs which products are 'most necissary'
4. Value Proposi- benefits that an organization promises to the consumer
tion
5. Selling Concept Selling concept is the old way - when products are sold and promoted, profit
vs Marketing is through volume of sales. Marketing concept is when customer needs are
Concept marketed, profit determined by customer satisfaction
6. marketing con- satisfying needs of the customer while also satisfying the needs of the organiza-
cept tion
7. Triple bottom Profit, People, Planet. aka corporate sustainability.
line
8. types of organi- for profit, non-profit, government agency.
zations
9. organizational corporate level, strategic business unit (SBU), functional level
structure
10. corporate level directs overall strategy for the entire
organization
, MGT 103 FINAL Exam | Questions with 100% Correct Answers | Verified |
Latest Update 2026
Study online at https://quizlet.com/_jgjw2w
11. Strategic Busi- a subsidiary of an organization that targets a specific market (e.g., Proctor &
ness Unit (SBU) 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.)
12. Functional Level a more specific group of specialists
that serve certain functions (e.g. finance department,
marketing department)
13. Strategic Plan- ongoing process of making decisions given fixed resources
ning
14. Strategy Organization's long-term plan for
creating sustainable value. delivering a
distinctive customer experience while achieving
its goals in a changing environment.
15. Core Values principles that guide us, non-visible.
16. Organizational set of values, ideas, attitudes and norms of behavior that is learned and shared
Culture among members of the organization (e.g., no time clock)
17. Mission State- formal declaration that describes the firm's
ment overall purpose and what it hopes to achieve.
18. Organizations what the firm hopes to accomplish in the
Goals short and long terms - S.M.A.R.T.
19. Marketing Plan road map for the marketing actions of an
organization for a specified future time period
, MGT 103 FINAL Exam | Questions with 100% Correct Answers | Verified |
Latest Update 2026
Study online at https://quizlet.com/_jgjw2w
20. SWOT analysis Strengths, Weaknesses, Opportunities, Threats. You should build on strengths,
correct weaknesses, capitalize on opportunities, beware and avoid threats.
21. Implimentation How to turn the marketing plan
into results
22. Evaluation and Measuring actual performance, comparing performance to the objectives that
Controll were set, making adjustments as needed. EX:
-Return on marketing investment (ROMI)
- New customer acquisition cost
- Customer retention rates
- Customer satisfaction
- Brand knowledge
23. Environmental Process of continually acquiring information on events occurring outside the or-
Scan ganization. This is done to identify and interpret potential trends that might impact
the business. Ex: economical, competitive, sociocultural, legal, technological
24. Sociocultural En- changes in cultural values, ideas, attitudes. ex: gender roles
viorment
25. Economic envior- indicators of economic health, development, stage of business cycle.
ment
26. gross income vs. gross income is total amount made, disposable is money left after taxes used for
disposable in- necessities, discretionary income anything left after necessities.
come vs. discre-
tionary income.
