COBA PRACTICE EXAM WITH ACTUAL
COMPLETE QUESTIONS AND
ANSWERS
Target Market - answer-- Group of people or
organizations for which an organization
designs, implements, and maintains a marketing
mix
- Meeting its needs results in mutually satisfying
exchanges
- Most likely to buy
Marketing Concept - answer-Social and
economic justification for an organization's
existence is the satisfaction of customer wants
and needs while meeting organizational
objectives
Elements of a Marketing Plan - answer--
Business Mission Statement
- Situation, or SWOT, Analysis
- Objectives
,- Marketing Strategy
- Implementation Evaluation Control
Marketing Mix - answer-- Product
- Price
- Place
- Promotion
Market Segmentation - answer-Process of
dividing a market into meaningful, relatively
similar, and identifiable segments or groups
Marketing Positioning - answer-The process of
defining the marketing mix variables so that
target customers have a clear, distinctive,
desirable understanding of what the product
does or represents in comparison with
competing products.
Start of OPMA 3306 - answer-...
,Operations and Supply Chain Management
(OSCM) - answer-The design, operation, and
improvement of the systems that create and
deliver the firm's primary products and services
Forecasting - answer-the basis of corporate
planning and control
Strategic Forecasts - answer-Medium- and long-
term forecast used to make decisions related to
strategy and estimating aggregate demand
Tactical Forecasts - answer-- The goal is to
estimate demand in the short-term (a few weeks
or months)
- Are important to ensure that in the short-term
we are able to meet customer lead-time
expectations and other criteria related to
availability of products and services
4 Basic Types of Forecasting - answer--
Qualitative
, - Time Series
- Causal Relationships
- Simulation
Qualitative Forecasting - answer-- take
advantage of knowledge of experts and require
judgment
- useful when relative data are N/A
Causal Forecasting - answer-- dependent
variable is related to one or more independent
variables
- independent variables are assumed to "cause"
the results observed in the past
Naive Forecasts - answer-Forecast for the next
period equals the demand for the current period
(F = Dt)
Simple Moving Average definition - answer--
Forecast based on average past demand
COMPLETE QUESTIONS AND
ANSWERS
Target Market - answer-- Group of people or
organizations for which an organization
designs, implements, and maintains a marketing
mix
- Meeting its needs results in mutually satisfying
exchanges
- Most likely to buy
Marketing Concept - answer-Social and
economic justification for an organization's
existence is the satisfaction of customer wants
and needs while meeting organizational
objectives
Elements of a Marketing Plan - answer--
Business Mission Statement
- Situation, or SWOT, Analysis
- Objectives
,- Marketing Strategy
- Implementation Evaluation Control
Marketing Mix - answer-- Product
- Price
- Place
- Promotion
Market Segmentation - answer-Process of
dividing a market into meaningful, relatively
similar, and identifiable segments or groups
Marketing Positioning - answer-The process of
defining the marketing mix variables so that
target customers have a clear, distinctive,
desirable understanding of what the product
does or represents in comparison with
competing products.
Start of OPMA 3306 - answer-...
,Operations and Supply Chain Management
(OSCM) - answer-The design, operation, and
improvement of the systems that create and
deliver the firm's primary products and services
Forecasting - answer-the basis of corporate
planning and control
Strategic Forecasts - answer-Medium- and long-
term forecast used to make decisions related to
strategy and estimating aggregate demand
Tactical Forecasts - answer-- The goal is to
estimate demand in the short-term (a few weeks
or months)
- Are important to ensure that in the short-term
we are able to meet customer lead-time
expectations and other criteria related to
availability of products and services
4 Basic Types of Forecasting - answer--
Qualitative
, - Time Series
- Causal Relationships
- Simulation
Qualitative Forecasting - answer-- take
advantage of knowledge of experts and require
judgment
- useful when relative data are N/A
Causal Forecasting - answer-- dependent
variable is related to one or more independent
variables
- independent variables are assumed to "cause"
the results observed in the past
Naive Forecasts - answer-Forecast for the next
period equals the demand for the current period
(F = Dt)
Simple Moving Average definition - answer--
Forecast based on average past demand
