MBA 706 / Exam 1 Questions with
Correct Answers 100% Pass
In Marketing Strategy, where did the term 'strategy' come from? - CORRECT
ANSWER-It arose from military context
"The forces available must be employed with such skill that even in the absence of
absolute superiority, relative superiority is attained at the decisive point"
How did management scholars apply 'strategy' to a business context in the 60s and
70s? - CORRECT ANSWER-Very 'firm' focused
1) The need to make a differential advantage sustainable
2) The objective of any business strategy is to enhance firm performance
In the 90s, how did this idea of strategy in business evolve? - CORRECT
ANSWER-Very 'customer' focused
Scholars argued that it must be from the perspective of the customers
What are the five key elements to a marketing strategy? - CORRECT ANSWER-1.
Leads to differential advantages over competitors
2. Sustainability
,3. Ability to enhance firm performance
4. Customer perspective
5. Guides decisions and actions
What is key to an effective marketing strategy? - CORRECT ANSWER-Customer-
centricity; customer ultimately determines strategy's success or failure
How did the focus in marketing strategy shift over time & why? - CORRECT
ANSWER-Went from firm focused to customer focused
Economists take a industry-level perspective, management scholars take a firm-
centric perspective, but customer is an even smaller unit of analysis; helps explain
variation in a firms' performance by addressing smaller units of analysis
What does marketing strategy consist of? - CORRECT ANSWER-Consists of
decisions and actions focused on building a sustainable differential advantage,
relative to competitors, in the minds of customers, to create value for stakeholders
What are the differences in corporate strategy and marketing strategy? -
CORRECT ANSWER-Corporate strategy = overall scope and direction of a firm
and the way in which its various business operations work together to achieve
particular goals (e.g. legal, tax & finance)
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, Operations (e.g. HR, R&D)
Marketing Strategy = decisions and actions focused on building a sustainable
differential advantage, relative to competitors, in the minds of customers, to create
value for stakeholders
Corporate(Operations(Marketing))
Why is marketing strategy key to long-term performance? - CORRECT
ANSWER-It greatly influences sales and profits by:
1) Growing market size (new products & services, lower prices)
2) Grow share (better products and services than competitors, higher loyalty to
retain and/or steal customers w/ acquisition strategies)
3) Better prices and margins (improve loyalty, brand image, relationships, products,
targeting of high margin customers)
4) Reduce costs (WOM, brand, relationships, retain with loyalty)
Correct Answers 100% Pass
In Marketing Strategy, where did the term 'strategy' come from? - CORRECT
ANSWER-It arose from military context
"The forces available must be employed with such skill that even in the absence of
absolute superiority, relative superiority is attained at the decisive point"
How did management scholars apply 'strategy' to a business context in the 60s and
70s? - CORRECT ANSWER-Very 'firm' focused
1) The need to make a differential advantage sustainable
2) The objective of any business strategy is to enhance firm performance
In the 90s, how did this idea of strategy in business evolve? - CORRECT
ANSWER-Very 'customer' focused
Scholars argued that it must be from the perspective of the customers
What are the five key elements to a marketing strategy? - CORRECT ANSWER-1.
Leads to differential advantages over competitors
2. Sustainability
,3. Ability to enhance firm performance
4. Customer perspective
5. Guides decisions and actions
What is key to an effective marketing strategy? - CORRECT ANSWER-Customer-
centricity; customer ultimately determines strategy's success or failure
How did the focus in marketing strategy shift over time & why? - CORRECT
ANSWER-Went from firm focused to customer focused
Economists take a industry-level perspective, management scholars take a firm-
centric perspective, but customer is an even smaller unit of analysis; helps explain
variation in a firms' performance by addressing smaller units of analysis
What does marketing strategy consist of? - CORRECT ANSWER-Consists of
decisions and actions focused on building a sustainable differential advantage,
relative to competitors, in the minds of customers, to create value for stakeholders
What are the differences in corporate strategy and marketing strategy? -
CORRECT ANSWER-Corporate strategy = overall scope and direction of a firm
and the way in which its various business operations work together to achieve
particular goals (e.g. legal, tax & finance)
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED
, Operations (e.g. HR, R&D)
Marketing Strategy = decisions and actions focused on building a sustainable
differential advantage, relative to competitors, in the minds of customers, to create
value for stakeholders
Corporate(Operations(Marketing))
Why is marketing strategy key to long-term performance? - CORRECT
ANSWER-It greatly influences sales and profits by:
1) Growing market size (new products & services, lower prices)
2) Grow share (better products and services than competitors, higher loyalty to
retain and/or steal customers w/ acquisition strategies)
3) Better prices and margins (improve loyalty, brand image, relationships, products,
targeting of high margin customers)
4) Reduce costs (WOM, brand, relationships, retain with loyalty)
