LSUS MBA 706 Module 1 Exam Questions And 100% Correct
Answers |Graded A+ (2026/2027)
Time Utility - Answer -the increase in customer satisfaction gained by making a good or service
available at the appropriate time
Form Utility - Answer -the value producers add to materials in the creation of finished goods
and services, seperate themselves from competition
Possession Utility - Answer -Doing whatever is necessary to transfer ownership from one party
to another, including providing credit, delivery, installation, guarantees, and follow-up service.
Place Utility - Answer -Adding value to products by having them where people want them.
Strategic Planning - Answer -the process of developing and maintaining a strategic fit between
the organization's goals and capabilities and its changing marketing opportunities
Strategies - Answer -provide a blueprint for how organizations will accomplish goals
Strategic Business Unit (SBU) - Answer -a subgroup of a single business or collection of related
businesses within the larger organization
1|Page
, Marketing 4 Ps - Answer -Product, promotion, place, price
marketing plans - Answer -comprehensive strategic and tactical frameworks for identifying and
achieving a sport organization's marketing goals and objectives, recommend 4 Ps
Balanced Strategic Planning - Answer -- Traditional planning approaches fail to capture value
created by firm's intangible assets
- Assets include relationships, processes, human resources, innovation, and information
- Kaplan & Norton created the balanced performance scorecard to counter this problem
Balanced Strategic Scorecard - Answer -connects dots between big picture strategy elements
such as mission, vision, core values, strategic focus areas and more operational elements-
objectives, measures
Financial (stewardship) - Answer -Protecting the company's financial resources from loss. views
performance usuing traditional marketing measures
Customer/Stakeholder - Answer -This perspective uses customer satisfaction data or other
customer / stakeholder metrics to view the firm's performance from the viewpoint of those that
the organization is intended to serve
2|Page
Answers |Graded A+ (2026/2027)
Time Utility - Answer -the increase in customer satisfaction gained by making a good or service
available at the appropriate time
Form Utility - Answer -the value producers add to materials in the creation of finished goods
and services, seperate themselves from competition
Possession Utility - Answer -Doing whatever is necessary to transfer ownership from one party
to another, including providing credit, delivery, installation, guarantees, and follow-up service.
Place Utility - Answer -Adding value to products by having them where people want them.
Strategic Planning - Answer -the process of developing and maintaining a strategic fit between
the organization's goals and capabilities and its changing marketing opportunities
Strategies - Answer -provide a blueprint for how organizations will accomplish goals
Strategic Business Unit (SBU) - Answer -a subgroup of a single business or collection of related
businesses within the larger organization
1|Page
, Marketing 4 Ps - Answer -Product, promotion, place, price
marketing plans - Answer -comprehensive strategic and tactical frameworks for identifying and
achieving a sport organization's marketing goals and objectives, recommend 4 Ps
Balanced Strategic Planning - Answer -- Traditional planning approaches fail to capture value
created by firm's intangible assets
- Assets include relationships, processes, human resources, innovation, and information
- Kaplan & Norton created the balanced performance scorecard to counter this problem
Balanced Strategic Scorecard - Answer -connects dots between big picture strategy elements
such as mission, vision, core values, strategic focus areas and more operational elements-
objectives, measures
Financial (stewardship) - Answer -Protecting the company's financial resources from loss. views
performance usuing traditional marketing measures
Customer/Stakeholder - Answer -This perspective uses customer satisfaction data or other
customer / stakeholder metrics to view the firm's performance from the viewpoint of those that
the organization is intended to serve
2|Page
