MGT 103 Midterm (Bates); Questions and Answers 100% Pass
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Course
Mgt 103
Institution
Mgt 103
MGT 103 Midterm (Bates); Questions and
Answers 100% Pass
marketing Correct answer-interpret the needs and wants of customers, communicate
solutions, facilitate change, decision making is messy and may not be "right" answer
sales era Correct answer-1930s-1970s
production era Correct answer-s
...
MGT 103 Midterm (Bates); Questions and
Answers 100% Pass
marketing Correct answer-interpret the needs and wants of customers, communicate
solutions, facilitate change, decision making is messy and may not be "right" answer
sales era Correct answer-1930s-1970s
production era Correct answer-1850-1930s
marketing concept era Correct answer-1950s-2000s
customer relationship era Correct answer-1980s-present
marketing concept Correct answer-identifies needs and wants of the customer and
provides it to them better than the competition can
need Correct answer-a physiological or psychological necessity, doesn't have to be daily
want Correct answer-the way you would best like to satisfy the need
market segmentation Correct answer-dividing the market into more similar groups of
consumers
, MGT 103 Midterm (Bates); Questions and
Answers 100% Pass
product positioning Correct answer-how you place an object in the mind of the consumer
market Correct answer-group(s) of consumers that can be characterized by their interests
or buying habits; have the desire and ability to buy an offering
industry Correct answer-exists to serve a market; a collection of products and service
providers positioned for a target audience
target market Correct answer-the group(s) of consumers an organization directs its
marketing efforts to
marketing mix Correct answer-product, price, promotion, place
perceptual map Correct answer-a subjective map from the mind of the consumer
variety Correct answer-in theory: having options increases the chances to find the perfect
flavor/style/etc
in practice: having too many options/variety requires too much cognitive ability
paradox of choice Correct answer-greater:
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