MGT 103 Final Study Guide Questions, Correct
Answers, and Complete Solutions | 2026 Update
"Path" to promotional materials/message - ANSWERS • Product/service
*concept*--> Product/service *design*-->
• Market analysis--> Market research (primary)-->
• SWOT--> Positioning statement-->
Launch Plan includes - ANSWERS Promotional Materials:
1. Product color/design/logo
2. Product tag-line (external message)
3. Product advertising (print/social media)
4. Product "sales" materials
5. Product packaging/inserts
6. Product "spend" (media, sales force)
The Sales Message - ANSWERS 1) Opener
2) Fact Finding/Questions
3) FAB (Feature/Advantage/Benefit) -- The Message
4) Handling Objections
5) Close/Commitment
Presentation (body) of Product/Service (FAB) - ANSWERS • Customize based
on your learnings, but
,• Trust the "flow" of the sales piece (tested)
• Use visuals (always)
• Features/Advantages/Benefits (FAB): *Creating value* in minds of customer
(remember- people love to buy, but hate to be "sold")
FAB - ANSWERS *Feature* (Fact) + *Advantage* (So what) + *Benefit* (What
this means for you)
• Take a step back: *What is our flagship feature?* (Most likely will be ONE
primary feature)
• Then layer in secondary (1-3) additive features
• Build your compelling message on your *primary feature*
• *FAB selling is the essence of "sales"* (new products, established products)
Mary Barra - ANSWERS • CEO of GM
• B.S. Electrical Engineering
• MBA from Stanford
• 2009- Head of HR
• 2011- Head of Global Product Development
• 2014- CEO
• #1 Most Powerful Female (Forbes)
• GM used to have an 10-page manifesto for the dress code--> Mary scrapped it
for *"Dress appropriately"*
• Relies on team-building and seeks consensus
• "We're going to have the right quality and the right performance features.
Repeating that process- *it's as simple as that and as hard as that*"
, • GM must find a way to combine the practicality of the Chevette with the swoon
of the Camaro
• GM and Chrysler went bankrupt in 2008, saved only by billions of dollars in
federal bailout funds
• Need to have products that work whatever the energy price is
• Need to roll out products that work across emerging markets too
*Case Study* Van Doren Rubber Co. - ANSWERS • Founded by Paul Van Doren
• Boston, MA
• Worked as a janitor at Randy's Footwear at age 16 (Mom worked there)
• 20 years later--> VP
• Randy's Footwear asked Paul to "go fix" the CA manufacturing plant (losing $1M
a year)
• He did, and then bolted!
• Randy's Footwear was only making 10 cents per shoe, while the retailer made
20x that
• Concept: 1) "Make shoes like a Sherman Tank" (2x rubber "waffle" sole, thick
canvas, nylon thread); 2) Make AND Sell in the same place; 3) Customize ANY shoe
• 1966 price: $2.99 per pair
• 1984: "Fast Time at Ridgemont High"--> birth of the checkerboard shoe
• Four Pillars (Vans positioning): 1) Art, 2) Music, 3) Action Sports (skateboarding),
4) Street Culture--> The *"Art of creative expression"*
• Early focus: Skateboard culture
• Chapter 11 bankruptcy in 1984
• Sold in 1988 for $75M, 2004 for $370M
• Refocus of company-- AND a little luck (Retro is cool!)
Answers, and Complete Solutions | 2026 Update
"Path" to promotional materials/message - ANSWERS • Product/service
*concept*--> Product/service *design*-->
• Market analysis--> Market research (primary)-->
• SWOT--> Positioning statement-->
Launch Plan includes - ANSWERS Promotional Materials:
1. Product color/design/logo
2. Product tag-line (external message)
3. Product advertising (print/social media)
4. Product "sales" materials
5. Product packaging/inserts
6. Product "spend" (media, sales force)
The Sales Message - ANSWERS 1) Opener
2) Fact Finding/Questions
3) FAB (Feature/Advantage/Benefit) -- The Message
4) Handling Objections
5) Close/Commitment
Presentation (body) of Product/Service (FAB) - ANSWERS • Customize based
on your learnings, but
,• Trust the "flow" of the sales piece (tested)
• Use visuals (always)
• Features/Advantages/Benefits (FAB): *Creating value* in minds of customer
(remember- people love to buy, but hate to be "sold")
FAB - ANSWERS *Feature* (Fact) + *Advantage* (So what) + *Benefit* (What
this means for you)
• Take a step back: *What is our flagship feature?* (Most likely will be ONE
primary feature)
• Then layer in secondary (1-3) additive features
• Build your compelling message on your *primary feature*
• *FAB selling is the essence of "sales"* (new products, established products)
Mary Barra - ANSWERS • CEO of GM
• B.S. Electrical Engineering
• MBA from Stanford
• 2009- Head of HR
• 2011- Head of Global Product Development
• 2014- CEO
• #1 Most Powerful Female (Forbes)
• GM used to have an 10-page manifesto for the dress code--> Mary scrapped it
for *"Dress appropriately"*
• Relies on team-building and seeks consensus
• "We're going to have the right quality and the right performance features.
Repeating that process- *it's as simple as that and as hard as that*"
, • GM must find a way to combine the practicality of the Chevette with the swoon
of the Camaro
• GM and Chrysler went bankrupt in 2008, saved only by billions of dollars in
federal bailout funds
• Need to have products that work whatever the energy price is
• Need to roll out products that work across emerging markets too
*Case Study* Van Doren Rubber Co. - ANSWERS • Founded by Paul Van Doren
• Boston, MA
• Worked as a janitor at Randy's Footwear at age 16 (Mom worked there)
• 20 years later--> VP
• Randy's Footwear asked Paul to "go fix" the CA manufacturing plant (losing $1M
a year)
• He did, and then bolted!
• Randy's Footwear was only making 10 cents per shoe, while the retailer made
20x that
• Concept: 1) "Make shoes like a Sherman Tank" (2x rubber "waffle" sole, thick
canvas, nylon thread); 2) Make AND Sell in the same place; 3) Customize ANY shoe
• 1966 price: $2.99 per pair
• 1984: "Fast Time at Ridgemont High"--> birth of the checkerboard shoe
• Four Pillars (Vans positioning): 1) Art, 2) Music, 3) Action Sports (skateboarding),
4) Street Culture--> The *"Art of creative expression"*
• Early focus: Skateboard culture
• Chapter 11 bankruptcy in 1984
• Sold in 1988 for $75M, 2004 for $370M
• Refocus of company-- AND a little luck (Retro is cool!)
