LSUS MBA 706 Marketing [Minseong Kim] 2026-
2027 Frequently Tested Exam Questions With
Verified Multiple Choice and Conceptual Actual
100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. Business Products - ANSWER Raw materials
Component parts
Process materials
Maintenance, repair, and operating products
Installations
2. Raw Materials - ANSWER basic natural materials that become part of a
finished product. They are purchased in very large quantities based on
specifications or grades.
Iron ore, chemicals, agricultural products, wood pulp
3. Component Parts - ANSWER finished items that become part of a larger
finished product. They are purchased based on specifications or industry
standards.
Spark plugs, computer chips, pane glass, hard drives
4. Process materials - ANSWER finished products that become
unidentifiable upon their inclusion in the finished product.
,Food additives, wood sealants, paint colorings
5. Maintenance, repair, and operating products - ANSWER products that
are used in business processes or operations but do not become part of the
finished product.
Furniture, building security, janitorial services
6. Installations - ANSWER major purchases, typically of a physical nature,
that are based on customized solutions including installation/construction,
training, financing, maintenance, and repair.
Enterprise software, buildings, heat and air systems
7. Business services - ANSWER intangible products that support business
operations. These purchases often occur as a part of outsourcing decisions.
Legal services, accounting services, consulting, research services
8. The Product Portfolio - ANSWER Product line- Group of closely related
product items
Product mix or portfolio- Total group of products offered by the firm
9. Potential Benefits of Offering a Large Product Portfolio - ANSWER
Economies of scale- Offering many different product lines can create
economies of scale in production, bulk buying, and promotion.
,Package uniformity- All packages in a product line have the same look and feel.
Standardization- Product lines can use the same component parts.
Sales and distribution efficiency- sales personnel can offer a full range of choices
and options to customers.
Equivalent quality beliefs- Customers expect and believe that all products in a line
are equal in terms of quality and performance.
10. Intangibility - ANSWER service firms (e.g., hotels, hospitals, hair stylists,
nonprofit organizations, governmental agencies) develop and implement
marketing strategies designed to match their portfolio of intangible
products to the needs of target markets.
11. Simultaneous production and consumption - ANSWER 1.customers or their
possessions must be present during service delivery;
2. other customers can affect service outcomes including service quality and
customer satisfaction;
3. service employees are critical because they must interact with customers to
deliver service;
4. converting high-contact services to low-contact services will lower costs but
may reduce service quality.
, 12. Perishability - ANSWER 1. services cannot be inventoried for later use.
Therefore, unused service capacity is lost forever (unsold hotel room and flight
seat);
2. service demand is very time-and-place sensitive. As a result, it is difficult to
balance supply and demand, especially during periods of peak demand;
3. Service facilities and equipment sit idle during periods of off-peak demand.
13. Heterogeneity - ANSWER 1. service quality varies across people, time, and
place, making it very difficult to delivery good service consistently
2. there are limited opportunities to standardize service delivery;
3. many services are customized by nature. However, customization can
dramatically increase the costs of providing the service.
14. Client-based relationships - ANSWER 1. most services live or die by
maintaining a satisfied clientele over the long term
2. generating repeat business is crucial for the service firm's success.
15. Factors affecting sales potential of new product - ANSWER Firm's ability to
create differential advantage
Market characteristics
Defined market opportunity
Customer perception
2027 Frequently Tested Exam Questions With
Verified Multiple Choice and Conceptual Actual
100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. Business Products - ANSWER Raw materials
Component parts
Process materials
Maintenance, repair, and operating products
Installations
2. Raw Materials - ANSWER basic natural materials that become part of a
finished product. They are purchased in very large quantities based on
specifications or grades.
Iron ore, chemicals, agricultural products, wood pulp
3. Component Parts - ANSWER finished items that become part of a larger
finished product. They are purchased based on specifications or industry
standards.
Spark plugs, computer chips, pane glass, hard drives
4. Process materials - ANSWER finished products that become
unidentifiable upon their inclusion in the finished product.
,Food additives, wood sealants, paint colorings
5. Maintenance, repair, and operating products - ANSWER products that
are used in business processes or operations but do not become part of the
finished product.
Furniture, building security, janitorial services
6. Installations - ANSWER major purchases, typically of a physical nature,
that are based on customized solutions including installation/construction,
training, financing, maintenance, and repair.
Enterprise software, buildings, heat and air systems
7. Business services - ANSWER intangible products that support business
operations. These purchases often occur as a part of outsourcing decisions.
Legal services, accounting services, consulting, research services
8. The Product Portfolio - ANSWER Product line- Group of closely related
product items
Product mix or portfolio- Total group of products offered by the firm
9. Potential Benefits of Offering a Large Product Portfolio - ANSWER
Economies of scale- Offering many different product lines can create
economies of scale in production, bulk buying, and promotion.
,Package uniformity- All packages in a product line have the same look and feel.
Standardization- Product lines can use the same component parts.
Sales and distribution efficiency- sales personnel can offer a full range of choices
and options to customers.
Equivalent quality beliefs- Customers expect and believe that all products in a line
are equal in terms of quality and performance.
10. Intangibility - ANSWER service firms (e.g., hotels, hospitals, hair stylists,
nonprofit organizations, governmental agencies) develop and implement
marketing strategies designed to match their portfolio of intangible
products to the needs of target markets.
11. Simultaneous production and consumption - ANSWER 1.customers or their
possessions must be present during service delivery;
2. other customers can affect service outcomes including service quality and
customer satisfaction;
3. service employees are critical because they must interact with customers to
deliver service;
4. converting high-contact services to low-contact services will lower costs but
may reduce service quality.
, 12. Perishability - ANSWER 1. services cannot be inventoried for later use.
Therefore, unused service capacity is lost forever (unsold hotel room and flight
seat);
2. service demand is very time-and-place sensitive. As a result, it is difficult to
balance supply and demand, especially during periods of peak demand;
3. Service facilities and equipment sit idle during periods of off-peak demand.
13. Heterogeneity - ANSWER 1. service quality varies across people, time, and
place, making it very difficult to delivery good service consistently
2. there are limited opportunities to standardize service delivery;
3. many services are customized by nature. However, customization can
dramatically increase the costs of providing the service.
14. Client-based relationships - ANSWER 1. most services live or die by
maintaining a satisfied clientele over the long term
2. generating repeat business is crucial for the service firm's success.
15. Factors affecting sales potential of new product - ANSWER Firm's ability to
create differential advantage
Market characteristics
Defined market opportunity
Customer perception
