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MBA 706 - Exam 1 Study Guide Questions and Answers
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MBA 706 - Exam 1 Study Guide Questions and Answers
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MBA 706 test 2- Questions and Answers 100% PassCorporate Goals/Objectives CORRECT ANS-long term outcome you want to achieve also
what the company wants to be in the future
Corporate Strategies CORRECT ANS-provides direction for the strategic planning efforts of
SBU's and their functional areas
Core Competency CORRECT ANS-is a unique ability that a company acquires from its
founders or developers that cannot be easily imitated.
SMART CORRECT ANS-Specific. Measurable. Achievable. Realistic. Time-bound
Objectives (functional level) CORRECT ANS-are what orgs want to accomplish for given
strategic planning, which is typically a year.
Situational Analysis (Strategic Planning) CORRECT ANS-As part of the strategic planning
process, the situation analysis occurs before a company decides on any specific marketing
actions
Competitive intelligence CORRECT ANS-involves identifying current and future competitors
that collectively with another and the firm by providing similar goods services, or goods and
services that might otherwise compete with the firm.
Internal Analysis: CORRECT ANS-1- Review of current marketing objectives, strategy, and
performance
2- Review of current and anticipated organizational resources
3- Review of current and anticipated cultural and structural issues
Customer Analysis: CORRECT ANS-1- Who are our current and potential customers?
, MBA 706 test 2- Questions and Answers 100% Pass
Need to know demographic, geographic, psychographic profiles of current and potential
customers and with this information create target market section. Know if the audience is
buying or user or both and create a market strategy to target both. B2C is not the only
customer. You also B2B, which is for firms who sell to other businesses or government or non-
profit.
2- What do customers do with our products? Understand QTY, bought separately, Do they
recycle the cartridges? Provide free shipping label and $5 dollars off next purchase for recycle
ink cartridges.
3- Where and when do customers buy our products?
· Where: Firms need to offer multiple distribution channels, physical stores. Ordering online
· When: Seasonal factors influence timing when people buy. Christmas wrapping paper
season/Some people wait until products are on sale.
4- Why and How do customers select our products? (Marketers should have developed a
strong understanding of customer needs and how well the product fulfills them. New
competitors enter the market/Existing competitors revise their products/ Complacency is the
kiss of death.
5- Why do potential customers NOT buy our products? (Untapped market or problem with
marketing plan)
PESTAL Analysis of Trends and Events CORRECT ANS-1- Political Environment - the role of
government in shaping business
2- Economic Environment - Economic conditions within which organization operate. Inflation
and Recession.
3- Socio-cultural demographic Environment
4- Technological Environment - centers around improvements in product or service features
and benefits made possibly advancement in science.
5- Environmental
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