MBA 706 Test 1 Newest 2026-2027.
Questions and Correct Answers.
Graded A
3 characteristics of core competency - ANS1) It is a source of competitive
advantage and makes a significant contribution to perceived customer
benefits. (2) It has applications in a wide variety of markets. (3) It is difficult
for competitors to imitate.
3 Decisions of Sampling Plan - ANS1. Sampling unit: whom should we
survey?
2. Sample size: how many people should we survey?
3. Sampling procedure: how should we choose the respondents?
3 phases of the value creation and delivery sequence - ANS1. choosing the
value: represents the "homework" marketing must do before any product
exists.
2. providing the value: Marketing must determine specific product features,
prices, and distribution.
3. communicating the value: by utilizing the sales force, Internet,
advertising, and any other communication tools to announce and promote
the product.
4 major categories of marketing alliances - ANS1. Product or service
alliance
1
,2. Promotional alliances
3. Logistics alliances
4. Pricing collaborations
4 organizational levels of most large companies - ANS1. Corporate
2. Division
3. Business unit
4. Product
4 P's of marketing - ANS-product
-price
-place
-promotion
4 types of industrial structures - ANS1. Raw-material-exporting economics
2. Industrializing economies
3. Subsistence economies
4. Industrial economies
5 income distribution patterns - ANS1) very low incomes
2) mostly low incomes
3) very low, very high incomes
4) Low, mediums, high incomes
5) Mostly medium incomes
5 types of needs - ANS1. Stated needs (The customer wants an
inexpensive car.)
2
, 2. Real needs (The customer wants a car whose operating cost, not initial
price, is low.)
3. Unstated needs (The customer expects good service from the dealer.)
4. Delight needs (The customer would like the dealer to include an onboard
GPS naviga-
tion system.)
5. Secret needs (The customer wants friends to see him or her as a savvy
consumer.)
6 Steps for effective marketing research - ANS1. Define the problem and
research objectives
2. Develop the research plan
3. Collect the information
4. Analyze the information
5. Present the findings
6. Make the decision
8 Demand States - ANSnegative, nonexistent, latent, declining, irregular,
unwholesome, full, overfull
10 types of entities marketed? - ANSGoods, services, events, experiences,
persons, places, properties, organizations, information, ideas
12 key major societal forces - ANS1. Network information technology
2. Globalization
3.deregulation
4.privatization
3
Questions and Correct Answers.
Graded A
3 characteristics of core competency - ANS1) It is a source of competitive
advantage and makes a significant contribution to perceived customer
benefits. (2) It has applications in a wide variety of markets. (3) It is difficult
for competitors to imitate.
3 Decisions of Sampling Plan - ANS1. Sampling unit: whom should we
survey?
2. Sample size: how many people should we survey?
3. Sampling procedure: how should we choose the respondents?
3 phases of the value creation and delivery sequence - ANS1. choosing the
value: represents the "homework" marketing must do before any product
exists.
2. providing the value: Marketing must determine specific product features,
prices, and distribution.
3. communicating the value: by utilizing the sales force, Internet,
advertising, and any other communication tools to announce and promote
the product.
4 major categories of marketing alliances - ANS1. Product or service
alliance
1
,2. Promotional alliances
3. Logistics alliances
4. Pricing collaborations
4 organizational levels of most large companies - ANS1. Corporate
2. Division
3. Business unit
4. Product
4 P's of marketing - ANS-product
-price
-place
-promotion
4 types of industrial structures - ANS1. Raw-material-exporting economics
2. Industrializing economies
3. Subsistence economies
4. Industrial economies
5 income distribution patterns - ANS1) very low incomes
2) mostly low incomes
3) very low, very high incomes
4) Low, mediums, high incomes
5) Mostly medium incomes
5 types of needs - ANS1. Stated needs (The customer wants an
inexpensive car.)
2
, 2. Real needs (The customer wants a car whose operating cost, not initial
price, is low.)
3. Unstated needs (The customer expects good service from the dealer.)
4. Delight needs (The customer would like the dealer to include an onboard
GPS naviga-
tion system.)
5. Secret needs (The customer wants friends to see him or her as a savvy
consumer.)
6 Steps for effective marketing research - ANS1. Define the problem and
research objectives
2. Develop the research plan
3. Collect the information
4. Analyze the information
5. Present the findings
6. Make the decision
8 Demand States - ANSnegative, nonexistent, latent, declining, irregular,
unwholesome, full, overfull
10 types of entities marketed? - ANSGoods, services, events, experiences,
persons, places, properties, organizations, information, ideas
12 key major societal forces - ANS1. Network information technology
2. Globalization
3.deregulation
4.privatization
3
