MGT 6311 gatech Midterm exam
COMPREHENSIVE QUESTIONS AND
VERIFIED ANSWERS 2025(GRADED
A+) DETAILED ANSWERS!!
/. Cluetrain Manifesto - Answer-✅A set of 95 theses organised as a call to action (CTA)
for businesses operating within a newly connected marketplace, published in 1999.
While some of the book's claims have failed to materialise, it was an early source of
guidelines for social media and obtained a cult-
like following
/.Market share - Answer-✅In strategic management and marketing, market share is the
percentage or proportion of the total available market or market
segment that is being serviced by a company.
/.Pay per click (PPC) - Answer-✅Advertising where the advertiser pays only for each
click on their advert, not for the opportunity for it to be seen or
displayed.
/.Return on investment
(ROI) - Answer-✅The ratio of cost to profit.
/.Search engine optimisation
(SEO) - Answer-✅The practice that aims to improve a website's ranking for specific
keywords in the search engines.
/.Strategy - Answer-✅A set of ideas that outline how a product or brand will be
positioned and achieve its objectives. This guides decisions on how to create,
distribute, promote and price the product or service. Looks at 4 pillars: environment,
business, customers, competitors
/.Tactic - Answer-✅A specific action or method that contributes to achieving a goal
/.Porter's 5 Forces - Answer-✅Power of suppliers, power of customers, threat of new
entrants, threat of substitute products --> competitive rivalry within industry
/.5 P's of marketing mix - Answer-✅Product, price, place, promotion, people
, /.SWOT - Answer-✅Strength, weakness, opportunities, threats
/.What do objectives need to be? - Answer-✅SMART: specific, measurable, attainable,
realistic, time-bound
/.Attention economy - Answer-✅The idea that human attention is a scarce commodity
i.e. seeing attention as a limited resource.
/.Customer experience map - Answer-✅A visual representation of the customers' flow
from beginning to end of the purchase experience, including their needs, wants,
expectations and overall experience.
/.Customer persona - Answer-✅A detailed description of a fictional person to help a
brand visualise a segment of its target market.
/.Global citizen - Answer-✅A person who identifies as part of a world community and
works toward building the values and practices of that community
/.Tribe - Answer-✅A social group linked by a shared belief or interest.
/.Product - Answer-✅An item sold by a brand
/.Story - Answer-✅A narrative that incorporates the feelings and facts created by your
brand, intended to inspire an emotional reaction
/.Understanding motivation - Answer-✅positive, intrinsic: I want to do this to feel good
negative, intrinsic: I need to do this or I'll feel bad
positive, extrinsic: If I do this, I'll get a reward
negative, extrinsic: If I don't do this, I'll face a penalty
/.Extrinsic motivators - Answer-✅Limited time specials and discounts, scarcity, loyalty
programmes, ancillary benefits, free content or downloads
/.Intrinsic motivators - Answer-✅Love, enjoyment and fun, self expression, personal
values, achievement or competence, negative intrinsic motivators (fear,
embarrassment, inertia)
/.Cognitive biases - Answer-✅personal prejudices and preferences, as well as common
ways of thinking that are inherently flawed
/.Pricing bias - Answer-✅More expensive better,will derive more psychological pleasure
from more expensive, even if cheaper is just as good
COMPREHENSIVE QUESTIONS AND
VERIFIED ANSWERS 2025(GRADED
A+) DETAILED ANSWERS!!
/. Cluetrain Manifesto - Answer-✅A set of 95 theses organised as a call to action (CTA)
for businesses operating within a newly connected marketplace, published in 1999.
While some of the book's claims have failed to materialise, it was an early source of
guidelines for social media and obtained a cult-
like following
/.Market share - Answer-✅In strategic management and marketing, market share is the
percentage or proportion of the total available market or market
segment that is being serviced by a company.
/.Pay per click (PPC) - Answer-✅Advertising where the advertiser pays only for each
click on their advert, not for the opportunity for it to be seen or
displayed.
/.Return on investment
(ROI) - Answer-✅The ratio of cost to profit.
/.Search engine optimisation
(SEO) - Answer-✅The practice that aims to improve a website's ranking for specific
keywords in the search engines.
/.Strategy - Answer-✅A set of ideas that outline how a product or brand will be
positioned and achieve its objectives. This guides decisions on how to create,
distribute, promote and price the product or service. Looks at 4 pillars: environment,
business, customers, competitors
/.Tactic - Answer-✅A specific action or method that contributes to achieving a goal
/.Porter's 5 Forces - Answer-✅Power of suppliers, power of customers, threat of new
entrants, threat of substitute products --> competitive rivalry within industry
/.5 P's of marketing mix - Answer-✅Product, price, place, promotion, people
, /.SWOT - Answer-✅Strength, weakness, opportunities, threats
/.What do objectives need to be? - Answer-✅SMART: specific, measurable, attainable,
realistic, time-bound
/.Attention economy - Answer-✅The idea that human attention is a scarce commodity
i.e. seeing attention as a limited resource.
/.Customer experience map - Answer-✅A visual representation of the customers' flow
from beginning to end of the purchase experience, including their needs, wants,
expectations and overall experience.
/.Customer persona - Answer-✅A detailed description of a fictional person to help a
brand visualise a segment of its target market.
/.Global citizen - Answer-✅A person who identifies as part of a world community and
works toward building the values and practices of that community
/.Tribe - Answer-✅A social group linked by a shared belief or interest.
/.Product - Answer-✅An item sold by a brand
/.Story - Answer-✅A narrative that incorporates the feelings and facts created by your
brand, intended to inspire an emotional reaction
/.Understanding motivation - Answer-✅positive, intrinsic: I want to do this to feel good
negative, intrinsic: I need to do this or I'll feel bad
positive, extrinsic: If I do this, I'll get a reward
negative, extrinsic: If I don't do this, I'll face a penalty
/.Extrinsic motivators - Answer-✅Limited time specials and discounts, scarcity, loyalty
programmes, ancillary benefits, free content or downloads
/.Intrinsic motivators - Answer-✅Love, enjoyment and fun, self expression, personal
values, achievement or competence, negative intrinsic motivators (fear,
embarrassment, inertia)
/.Cognitive biases - Answer-✅personal prejudices and preferences, as well as common
ways of thinking that are inherently flawed
/.Pricing bias - Answer-✅More expensive better,will derive more psychological pleasure
from more expensive, even if cheaper is just as good
