MGT 103 QUIZ 1 (CHAPTERS 1-5) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

MGT 103 QUIZ 1 (CHAPTERS 1-5) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Marketing - Answer -the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large--seeks to discover the needs of the customer and satisfy those needs Exchange - Answer -the trade of things so that each party is better off than before What is needed for marketing to occur? - Answer -1. Two or more parties with unsatisfied needs 2. Desire and ability to satisfy those needs 3. A way for the parties to communicate 4. Something to exchangeNeed assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: How are consumer needs discovered? - Answer -surveys, concept tests, and other research strategies Needs vs. Wants - Answer -Need: life would be substantially worse without it Want: something that may benefit you but isn't necessary The 4 P's/Marketing Mix - Answer -Product, Price, Promotion, P