MGT 6311 REVIEW TEST PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ 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
QUESTIONS WITH ANSWERS GRADED A+
◉ 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
