MGT 6311 Exam 1 Questions with Correct
Answers
Marketing
The creation and satisfaction of demand for a product or service
Digital Marketing
Utilizing the internet and other digital channels to drive demand for products and services
Strategy
Set of ideas that outline how a product or brand will meet its objectives
Tactic
A specific action or method that contributes to achieving a goal
Components of GOST strategy
Goals
Objectives
Strategies
Tactics
What are the Five Cs?
Company
Competitors
Collaborators
Customers
Context
, Customers (5 Cs)
Potential buyers with wants and needs that the company aims to fulfill with its offerings
Business vs. non-business buyers
Company (5 Cs)
The org or business unit providing certain goods or services
Look internally at messaging, positioning, etc.
SWOT
Strength
Weakness
Opportunities
Threats
Competitors (5 Cs)
Orgs that offer products or services that aim to fulfill the same wants/needs of the same
customers as the company's offering
Collaborators (5 Cs)
External business entities that work with the company to create value for customers
Context (5 Cs)
The environment in which the company operates and its associated elements
What does PESTEL stand for?
Answers
Marketing
The creation and satisfaction of demand for a product or service
Digital Marketing
Utilizing the internet and other digital channels to drive demand for products and services
Strategy
Set of ideas that outline how a product or brand will meet its objectives
Tactic
A specific action or method that contributes to achieving a goal
Components of GOST strategy
Goals
Objectives
Strategies
Tactics
What are the Five Cs?
Company
Competitors
Collaborators
Customers
Context
, Customers (5 Cs)
Potential buyers with wants and needs that the company aims to fulfill with its offerings
Business vs. non-business buyers
Company (5 Cs)
The org or business unit providing certain goods or services
Look internally at messaging, positioning, etc.
SWOT
Strength
Weakness
Opportunities
Threats
Competitors (5 Cs)
Orgs that offer products or services that aim to fulfill the same wants/needs of the same
customers as the company's offering
Collaborators (5 Cs)
External business entities that work with the company to create value for customers
Context (5 Cs)
The environment in which the company operates and its associated elements
What does PESTEL stand for?
