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MBA 706 Exam Study Guide 2- Dr. Saleh Exam Questions And Answers Latest 2025
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What is the definition of a mission? - - - correct answer ✅Unique purpose that distinguishes the organization from other companies and defines the boundaries of its operations What does a mission do? - - - correct answer ✅Proclamation of organizations primary objective that encapsulates its core values What should a mission do? - - - correct answer ✅Characterize the organization's principles and priorities and define the broad product, market, and technologies that are core to the business. A Mission should define the boundaries of business' ambitions: - - - correct answer ✅Product Scope Market Scope Geographical Scope T/F A mission may also encompass the organizations strategic intent or vision? - - - correct answer ✅TRUE
Can a mission act as a guide and lead to the development of hierarchy of objectives? - - - correct answer ✅Yes What should a mission accurately describe? - - - correct answer ✅The: Business, The: Market it serves The: organizations capabilities What can influence an organizations mission? - - - correct answer ✅1. Corporate governance: who SHOULD we serve /accountability
Functional - over 3 years: Marketing, finance, HR, ops - Departments direction in terms of growth / i.e. 25% increase in marketing share Operational - 1-3 years: marketing mix (product, service, promotion) Marketing strategy becomes the objective Sometimes SBU - level also if org has a divisional structure What is the balanced scorecard? - - - correct answer ✅Requires managers to look at business from 4 key perspectives:
Profit forecast reliability Sales backlog What are customer strategic objectives - - - correct answer ✅Value for money Competitive price Customer satisfaction What are customer strategic measures? - - - correct answer ✅Customer ranking survey Pricing index customer satisfaction index Mystery shopping rating What are internal strategic objectives? - - - correct answer ✅1. Marketing: product & service deployment, shape customer requirement
What is differentiation strategy? - - - correct answer ✅Product offered is distinct & differentiated from the competition What are common sources of differentiation? - - - correct answer ✅Product performance Product perception Product augmentation What is a focus strategy? - - - correct answer ✅When organization concentrates on narrow range of business activities What are basic factors considered in focus strategy? - - - correct answer ✅Geographic area End-user focus Product / product line specialist How many characteristics are involved with sustainable competitive advantage? - - -
correct answer ✅Relevant: must be appropriate to current & future market needs - must be relevant to organization: achievable w/ feasible resources Defensible: must be barriers to replication: Asset & Skill based What are fight sources of competitive advantage? - - - correct answer ✅1. Actual product performance: robust, economic, easy to use
What are different defensive strategies? - - - correct answer ✅1. Position defense
What are strategies for declining / hostile markets? - - - correct answer ✅1. Generate growth
Marketing assets: does the market segment allow a company to take advantage of current strengths Cost advantages: entering a price-sensitive segment would be consistent w/ capabilities of an organization that has a low-cost base Technological strengths: where organization has access to superior technology, is it's use compatible w/ market segment & will it allow the company to gain any advantage Managerial capabilities & commitment: does the company have technical & managerial skills necessary to successfully enter a market segment? The process of evaluating segments requires managers to make creative & qualitative judgments; it is not a completely objective process: - - - correct answer ✅Ability to allow creation of sustainable market position Compatibility w/ the organizations mission, values and culture
Ability to provide a focal point for action & future development in the organization Ability to facilitate an innovative approach to market entry Ability of current organizational structure to service target market Compatibility w/ current data collection & reporting systems & policies What are associations used to position a brand? - - - correct answer ✅1. Product attributes
What is unchanged target market & unchanged product attributes?
correct answer ✅Image repositioning What is CHANGE target market & unchanged product attributes? - -
correct answer ✅Market repositioning What is UNCHANGED target market & CHANGED product attributes? - - - correct answer ✅product repositioning What is CHANGED target market & CHANGED product attributions?
correct answer ✅Total repositioning What can a brand's maximum profitability be increased by? - - - correct answer ✅1. Raising prices
What are 3 levels of a product? - - - correct answer ✅1. Core: Defines fundamental needs being met