MGRADES
MBA MFT Study UPDATED ACTUAL
Exam Questions and CORRECT Answers
major segmentation variables (4) - CORRECT ANSWER - (1) geographic, (2)
demographic, (3) psychographic, (4) behavioral
penetrated market - CORRECT ANSWER - set of customers who are buying the
company's product
target market - CORRECT ANSWER - qualified available market the company decides to
pursue
available market - CORRECT ANSWER - set of consumers who have interest, income,
and access to a particular offer
potential market - CORRECT ANSWER - set of consumer with a sufficient level of
interest in a market offer
corporate culture - CORRECT ANSWER - shared experiences, stories, beliefs, & norms
that characterize an organization
strategic marketing plan - CORRECT ANSWER - lays out the target market and the firm's
value proposition, based on an analysis of the best market opportunities
5 stages of consumer buying process decision process - CORRECT ANSWER - (1) need
recognition, (2) information search, (3) evaluation of alternatives, (4) purchase decision, (5) post-
purchase behavior
8 steps of business purchasing process - CORRECT ANSWER - (1) identify need, (2)
select specific product, (3) appoint purchase team, (4) specify technicalities, (5) budget for
purchase, (6) research potential suppliers, (7) solicit bids, (8) award contracts
,MGRADES
4 factors influencing consumer behavior - CORRECT ANSWER - (1) cultural, (2) social,
(3) personal, (4) psychological
4 factors that influence business purchasing behavior - CORRECT ANSWER - (1)
environmental, (2) organizational, (3) interpersonal, (4) individual
competitive intelligence - CORRECT ANSWER - defining, gathering, analyzing, &
distributing intelligence about products, customers, competitors, and any aspects of the
environment needed to support executives & managers making strategic decisions for an
organization
managerial decision making process steps (6) - CORRECT ANSWER - (1) establish the
objective, (2) define the problem, (3) identify possible solutions, (4) evaluate alternative courses
of action, (5) implement the decision, (6) acquire feedback
8 major models of marketing communication - CORRECT ANSWER - (1) advertising, (2)
sales promotion, (3) events & experiences, (4) public relations & publicity, (5) direct marketing,
(6) interactive marketing, (7) word-of-mouth marketing, (8) personal selling
pull strategy - CORRECT ANSWER - the manufacturer uses advertising and other
communication to persuade consumers to demand the product from intermediaries, thus inducing
intermediaries to order it
push strategy - CORRECT ANSWER - uses the manufacturer's sales force, trade
promotion money, or other means to induce intermediaries to carry, promote, & sell the product
to end users
points-of-parity (POPs) - CORRECT ANSWER - attributes or benefit associations that are
not necessarily unique to the brand but may be shared with other brands
, MGRADES
points-of-difference (PODs) - CORRECT ANSWER - attributes of benefits that
consumers strongly associate with a brand, positively evaluate, and believe they could NOT find
to the same extent with a competitive brand
posititioning - CORRECT ANSWER - the act of designing a company's offering and
image to occupy a distinctive place in the minds of the target market
supersegment - CORRECT ANSWER - set of segments sharing some exploitable
similarity
5 key criteria market segments must rate favorably on to be useful - CORRECT
ANSWER - (1) measurable, (2) sustainable, (3) accessible, (4) differentiable, (5)
actionable
pyschographic - CORRECT ANSWER - the science of using psychology & demographics
to better understand consumers
variables of demographic segmentation (6) - CORRECT ANSWER - (1) age and life-cycle
stage, (2) life stage, (3) gender, (4) income, (5) generation, (6) race & culture
investment banking - CORRECT ANSWER - a specific division of banking related to the
creation of capital for other companies, governments, and entities
weak form - CORRECT ANSWER - assumes that all info contained in past price
movements is reflected in the current market price. info about recent trends in a stock price is no
use in selecting a stock
semi-strong form - CORRECT ANSWER - states the current market price reflects all
publicly available information. to gain abnormal returns insider info is needed
information efficiency - CORRECT ANSWER - all relevant information about a stock is
reflected in its price (this is in a perfect world)
MBA MFT Study UPDATED ACTUAL
Exam Questions and CORRECT Answers
major segmentation variables (4) - CORRECT ANSWER - (1) geographic, (2)
demographic, (3) psychographic, (4) behavioral
penetrated market - CORRECT ANSWER - set of customers who are buying the
company's product
target market - CORRECT ANSWER - qualified available market the company decides to
pursue
available market - CORRECT ANSWER - set of consumers who have interest, income,
and access to a particular offer
potential market - CORRECT ANSWER - set of consumer with a sufficient level of
interest in a market offer
corporate culture - CORRECT ANSWER - shared experiences, stories, beliefs, & norms
that characterize an organization
strategic marketing plan - CORRECT ANSWER - lays out the target market and the firm's
value proposition, based on an analysis of the best market opportunities
5 stages of consumer buying process decision process - CORRECT ANSWER - (1) need
recognition, (2) information search, (3) evaluation of alternatives, (4) purchase decision, (5) post-
purchase behavior
8 steps of business purchasing process - CORRECT ANSWER - (1) identify need, (2)
select specific product, (3) appoint purchase team, (4) specify technicalities, (5) budget for
purchase, (6) research potential suppliers, (7) solicit bids, (8) award contracts
,MGRADES
4 factors influencing consumer behavior - CORRECT ANSWER - (1) cultural, (2) social,
(3) personal, (4) psychological
4 factors that influence business purchasing behavior - CORRECT ANSWER - (1)
environmental, (2) organizational, (3) interpersonal, (4) individual
competitive intelligence - CORRECT ANSWER - defining, gathering, analyzing, &
distributing intelligence about products, customers, competitors, and any aspects of the
environment needed to support executives & managers making strategic decisions for an
organization
managerial decision making process steps (6) - CORRECT ANSWER - (1) establish the
objective, (2) define the problem, (3) identify possible solutions, (4) evaluate alternative courses
of action, (5) implement the decision, (6) acquire feedback
8 major models of marketing communication - CORRECT ANSWER - (1) advertising, (2)
sales promotion, (3) events & experiences, (4) public relations & publicity, (5) direct marketing,
(6) interactive marketing, (7) word-of-mouth marketing, (8) personal selling
pull strategy - CORRECT ANSWER - the manufacturer uses advertising and other
communication to persuade consumers to demand the product from intermediaries, thus inducing
intermediaries to order it
push strategy - CORRECT ANSWER - uses the manufacturer's sales force, trade
promotion money, or other means to induce intermediaries to carry, promote, & sell the product
to end users
points-of-parity (POPs) - CORRECT ANSWER - attributes or benefit associations that are
not necessarily unique to the brand but may be shared with other brands
, MGRADES
points-of-difference (PODs) - CORRECT ANSWER - attributes of benefits that
consumers strongly associate with a brand, positively evaluate, and believe they could NOT find
to the same extent with a competitive brand
posititioning - CORRECT ANSWER - the act of designing a company's offering and
image to occupy a distinctive place in the minds of the target market
supersegment - CORRECT ANSWER - set of segments sharing some exploitable
similarity
5 key criteria market segments must rate favorably on to be useful - CORRECT
ANSWER - (1) measurable, (2) sustainable, (3) accessible, (4) differentiable, (5)
actionable
pyschographic - CORRECT ANSWER - the science of using psychology & demographics
to better understand consumers
variables of demographic segmentation (6) - CORRECT ANSWER - (1) age and life-cycle
stage, (2) life stage, (3) gender, (4) income, (5) generation, (6) race & culture
investment banking - CORRECT ANSWER - a specific division of banking related to the
creation of capital for other companies, governments, and entities
weak form - CORRECT ANSWER - assumes that all info contained in past price
movements is reflected in the current market price. info about recent trends in a stock price is no
use in selecting a stock
semi-strong form - CORRECT ANSWER - states the current market price reflects all
publicly available information. to gain abnormal returns insider info is needed
information efficiency - CORRECT ANSWER - all relevant information about a stock is
reflected in its price (this is in a perfect world)
