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MGT 103 Quiz 1 Questions and Answers (100% Pass)
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MGT 103 Quiz 1 Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+MGT 103 Quiz 1 Questions and
Answers (100% Pass)
marketing
✓ the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value
for customers, clients, partners, and society at large
a solution to a problem
✓ what makes a good product?
product, price, promotion, place
✓ What are the 4 P's of marketing?
value proposition
✓ benefits that an organization promises to the customer
build product that customer values
✓ what is the goal of fulfilling consumer needs and wants?
organization
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ legal entity that consists of people who share a common mission
for profit organization
✓ a business firm (Nike, Facebook, Toyota)
non profit organization
✓ non-governmental organization that does not have profit as its main
goal (Boys and Girls Club, American Heart Association, Khan
Academy)
government agency
✓ provides a specific service to its constituents (Census Bureau)
corporate level
✓ top management directs overall strategy for the entire organization
(boards, senior mgt)
strategic business unit (SBU)
✓ subsidiary of an organization that targets a specific market
functional level
Master01 | October, 2024/2025 | Latest update
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