MGT 103 Exam Questions and Answers
A want is a need that is shaped by person's:
A goals, objections, and culture
B culture, personality, and knowledge
C desire, personality, and knowledge
D culture, personality, and style - Answers -B
From multiple lecture discussions, .... are business practices or conditions that make it
difficult for new companies or products/ services to enter the market:
A Barriers to entry
B counter-targeting
C Regulatory practices
D Tariff restrictions - Answers -A
Guideline for a strong . ....... ....... include:
It is simple, measurable, and tailored
It is credible
It "owns" this (specific) area
It leaves room for growth
A Product Tagline
B Mission Statement
C Positioning Statement
D Annual Report - Answers -C
With a typical film costing over $100 million to produce and market, one of the ways
movie studios try to reduce their risk is by conducting Test Screenings, where 200 to
300 moviegoers are recruited to attend a "pre-screening" before all final edits are
completed. Thoughts, reactions, and other input is gathered following this pre-screen.
This is an excellent example of:
A A comprehensive SWOT Analysis
B Primary Market Research
C Best-in-class Customer Segmentation
D Secondary Market Research - Answers -B
Garry Ridge, CEO, WD-40 has what he calls "a very simple set of questions we ask
ourselves" (regarding marketing WD-40 and other products within their company).
These include all with that EXCEPTION of:
, A Do you need me?
B Can you buy me?
C Do you know me?
D Can you afford me? - Answers -D
Which of the following statement about GoPro, the company, and Nick Woodman,
Founder and CEO is not correct:
A In retail sales (such as GoPro products)Q4(the 4th quarter of the year) is typically the
strongest (highest) sales quarter of this year.
B External market dynamics (e.g. poor economy) are the primary reason for the rapid
and dramatic downfall of GoPro.
C The formation of GoPro(the company was Nick Woodman's 3rd Start-up (new
company) effort.
D In 2014, Nick Woodman's overall compensation (base, bonus, selling company,
owned stock) was #1 among all CEO's in America. - Answers -B
All of following are true regarding what's needed for Marketing to occur EXCEPT:
A A way for parties to communicate
B Some to exchange
C A desire and ability on their part to have needs satisfied
D Two or more parties with satisfied needs. - Answers -D
Visionary Organizations do the following (where the most appropriate descriptor)
A Create an inspiring Mission Statement and company Core Values
B Set both long and short-term objectives, monitor metrics, and pay senior management
in the top quartile.
C Established a foundation, set a direction, and create strategies to successfully
develop and market their offerings
D Create inspirational statements, set objectives, and launch at least 1 new product a
year - Answers -C
Secondary Market Research data consists of ....... AND Primary Market Research data
consists of........?
A Customer Segmentation analysis AND Tactical Market Execution
B Legal/Regulatory information and Opinions of people
C Information newly collected for the product AND Facts & Figures already available
through 3rd partly sources (e.g. internet)
A want is a need that is shaped by person's:
A goals, objections, and culture
B culture, personality, and knowledge
C desire, personality, and knowledge
D culture, personality, and style - Answers -B
From multiple lecture discussions, .... are business practices or conditions that make it
difficult for new companies or products/ services to enter the market:
A Barriers to entry
B counter-targeting
C Regulatory practices
D Tariff restrictions - Answers -A
Guideline for a strong . ....... ....... include:
It is simple, measurable, and tailored
It is credible
It "owns" this (specific) area
It leaves room for growth
A Product Tagline
B Mission Statement
C Positioning Statement
D Annual Report - Answers -C
With a typical film costing over $100 million to produce and market, one of the ways
movie studios try to reduce their risk is by conducting Test Screenings, where 200 to
300 moviegoers are recruited to attend a "pre-screening" before all final edits are
completed. Thoughts, reactions, and other input is gathered following this pre-screen.
This is an excellent example of:
A A comprehensive SWOT Analysis
B Primary Market Research
C Best-in-class Customer Segmentation
D Secondary Market Research - Answers -B
Garry Ridge, CEO, WD-40 has what he calls "a very simple set of questions we ask
ourselves" (regarding marketing WD-40 and other products within their company).
These include all with that EXCEPTION of:
, A Do you need me?
B Can you buy me?
C Do you know me?
D Can you afford me? - Answers -D
Which of the following statement about GoPro, the company, and Nick Woodman,
Founder and CEO is not correct:
A In retail sales (such as GoPro products)Q4(the 4th quarter of the year) is typically the
strongest (highest) sales quarter of this year.
B External market dynamics (e.g. poor economy) are the primary reason for the rapid
and dramatic downfall of GoPro.
C The formation of GoPro(the company was Nick Woodman's 3rd Start-up (new
company) effort.
D In 2014, Nick Woodman's overall compensation (base, bonus, selling company,
owned stock) was #1 among all CEO's in America. - Answers -B
All of following are true regarding what's needed for Marketing to occur EXCEPT:
A A way for parties to communicate
B Some to exchange
C A desire and ability on their part to have needs satisfied
D Two or more parties with satisfied needs. - Answers -D
Visionary Organizations do the following (where the most appropriate descriptor)
A Create an inspiring Mission Statement and company Core Values
B Set both long and short-term objectives, monitor metrics, and pay senior management
in the top quartile.
C Established a foundation, set a direction, and create strategies to successfully
develop and market their offerings
D Create inspirational statements, set objectives, and launch at least 1 new product a
year - Answers -C
Secondary Market Research data consists of ....... AND Primary Market Research data
consists of........?
A Customer Segmentation analysis AND Tactical Market Execution
B Legal/Regulatory information and Opinions of people
C Information newly collected for the product AND Facts & Figures already available
through 3rd partly sources (e.g. internet)
