Exam (elaborations)
MGT 103 LO Chapter 1-4 Exam Questions and Answers
- Course
- Institution
MGT 103 LO Chapter 1-4 Exam Questions and Answers
[Show more]
Content preview
MGT 103 LO Chapter 1-4 ExamQuestions and Answers
Two primary goals of marketing - Answers -1) discovering the needs of customers
2) Satisfying them
Customer Value - Answers -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 - Answers -Best price, best product, best service
Marketing era's - Answers -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 - Answers -
Organization - Answers -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
Three types of organizations - Answers -1) For profit organization serves its customers
to earn a profit so that it can survive.
2) Non-profit organization is a non gov. organization that serves its customers but does
not have profit as an goal. Goals may be client satisfaction
3)Government Agencies is a federal, state, county or city unit that provides a specific
service to its constituents
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now