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MGT 103 LO Chapter 1-4 Questions and Answers (100% Pass)
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MGT 103 LO Chapter 1-4 Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+MGT 103 LO Chapter 1-4 Questions
and Answers (100% Pass)
Two primary goals of marketing
✓ 1) discovering the needs of customers
✓ 2) Satisfying them
Customer Value
✓ Customer value is the unique combination of benefits received by
targeted buyers that usually include quality, price, convenience, on
time delievry and both before and after sale service.
Three value strategies
✓ Best price, best product, best service
Marketing era's
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Production era- byers were willing to accept virtually any goods that
were available
✓
✓ Sales era-manufactures found they could produce more goods than
buyers could consume, competition grew. solution was to hire more
sales people to find new buyers
✓
✓ Marketing concept era-marketing into each phase of their business
✓
✓ Customer relationship era-organizations continue to satisfy the high
expectations of customers-alot done through social media
Chapter 2
✓
Organization
✓ Is a legal entity that consists of people who share a common mission
✓
✓ It develops offerings (goods, services, and ideas) that create value for
both organization and customers
Master01 | October, 2024/2025 | Latest update
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