7/4/25, 9:25
PM
MBA 706 Exam questions and answers with complete
solutions verified latest update 2025/2026 graded a+
Terms in this set (128)
• Marketing defines
how the organization
interacts with its
marketplace
What is marketing? • Marketing can be
adopted as a
business
philosophy
(marketing
orientation)
• A company's
orientation defines its
fundamental business
philosophy,
highlighting what is
perceived as the primary route to success
••Major business decisions tend to focus on
−Business definition
−Core competencies
What should major −Integrating functional
strategic business areas within the
decisions focus on? organization
1/
13
, 7/4/25, 9:25
PM
−Consistency of
approach and focus of
the organization
Vitality
What impact can Globalization
marketplace Intense
changes have on competition
strategy? Redefine
• The balanced scorecard approach
involves taking both financial and non-
financial measures to examine the
What is meant by a benefits delivered to all the
"balanced scorecard"? organization's stakeholders
−Financial measures
−Customer measures
−Internal activity measures
−Innovation and learning measures
· Achieving a superior competitive position
within a defined market
o 1. Segmentation: break the market into groups
o 2. Targeting: select market segments
o 3. Positioning: establish a distinctive superior
position
What is the purpose of · Marketing defines how the organization interacts
marketing strategy? with its marketplace
· Marketing can be more than a
functional activity. It can be adopted as
a business philosophy – marketing
2/
13
PM
MBA 706 Exam questions and answers with complete
solutions verified latest update 2025/2026 graded a+
Terms in this set (128)
• Marketing defines
how the organization
interacts with its
marketplace
What is marketing? • Marketing can be
adopted as a
business
philosophy
(marketing
orientation)
• A company's
orientation defines its
fundamental business
philosophy,
highlighting what is
perceived as the primary route to success
••Major business decisions tend to focus on
−Business definition
−Core competencies
What should major −Integrating functional
strategic business areas within the
decisions focus on? organization
1/
13
, 7/4/25, 9:25
PM
−Consistency of
approach and focus of
the organization
Vitality
What impact can Globalization
marketplace Intense
changes have on competition
strategy? Redefine
• The balanced scorecard approach
involves taking both financial and non-
financial measures to examine the
What is meant by a benefits delivered to all the
"balanced scorecard"? organization's stakeholders
−Financial measures
−Customer measures
−Internal activity measures
−Innovation and learning measures
· Achieving a superior competitive position
within a defined market
o 1. Segmentation: break the market into groups
o 2. Targeting: select market segments
o 3. Positioning: establish a distinctive superior
position
What is the purpose of · Marketing defines how the organization interacts
marketing strategy? with its marketplace
· Marketing can be more than a
functional activity. It can be adopted as
a business philosophy – marketing
2/
13
