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MBA Exit Exam 2025 – Complete Study Guide, Practice Questions,
and Business Competency Review for Graduate Students
Prepare for your MBA Exit Exam 2025 with this comprehensive study guide. Review strategy,
finance, accounting, marketing, operations, and economics concepts tested on major assessments
such as the ETS® MBA Major Field Test or Peregrine Comprehensive Exam. Includes sample
questions, key topics, and test-taking tips.
MBA exit exam 2025
MBA comprehensive exam
MBA major field test study guide
What is Market Planning? - ANSWER--Once an opportunity is recognized, the marketing executive must
then plan an appropriate strategy for taking advantage of the opportunity.
What are the steps to Marketing Planning? - ANSWER-· This process can be viewed in terms of the
following three interrelated tasks:
o Establishing marketing objectives (first step)
o Selecting the target market (second step)
o Developing the marketing mix (final step)
What is situation analysis? - ANSWER-a collection of methods that managers use to analyze an
organization's internal and external environment to understand the organization's capabilities,
customers, business environment, and market opportunities
What are two methods that can be utilized for situational analysis? - ANSWER-- The SWOT analysis
-Porter five forces analysis
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T/F: . The competitive environment and other major environmental factors (e.g., social, economic, legal
etc.) may also be assessed to understand market opportunities. - ANSWER-True
In order to correctly conduct the situational analysis, firms must do what? - ANSWER-understand
whether their primary customers are other businesses (e.g., B2B markets) or the final end
users/consumers (e.g., B2C markets).
Why is relationship marketing important? - ANSWER-Because business marketers tend to deal with
fewer and larger buyers than consumer marketers.
What are Market Development strategies? - ANSWER-- · This strategy is about reaching new customer
segments or expanding internationally by targeting new geographic areas
What is an example of an organization using Market Development Strategies? - ANSWER-· This is what
for example IKEA has done over the past few decades in order to become one of the biggest furniture
retailers in the world. IKEA started off expanding to markets relatively close in terms of culture as to its
home country (Sweden) before targeting more challenging geographic areas such as China and the
Middle-East.
T/F: · Market development strategies are complex in practice. A lot of times they involve much, much
more than simply getting the product to a new market. - ANSWER-True
What are Product Development Strategies? - ANSWER-The new products developed would be directed
primarily to present customers.
Examples of Product Development Strategies? - ANSWER-Companies could for example make some
modifications in the existing products to give increased value to the customers for their purchase or
develope and launch new products alongside a company's existing product offering. A classic example of
product development is Apple launching a brand-new iPhone every few years.
What is Diversification in marketing? - ANSWER-It involves seeking new products (often through
acquisitions) for customers not currently being served.
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· This strategy can lead the organization into entirely new and even unrelated businesses.
What is an example of a company using Diversification in marketing? - ANSWER-A great example of a
conglomerate diversification is Samsung, which is operating in businesses varying from computers,
phones, and refrigerators to chemicals, insurances, and hotel chains.
What is a SWOT analysis? - ANSWER-strengths, weaknesses, opportunities, threats
SWOT analysis (or SWOT matrix) is a situation analysis technique used to help a person or organization
identify strengths, weaknesses, opportunities, and threats related to business competition or project
planning.
What is the intention of the SWOT analysis? - ANSWER-Specify the objectives of the business venture or
project and identify the internal and external factors that are favorable and unfavorable to achieving
those objectives (S and W are internal; O and T are external). See figure below.
T/F:· Michael Porter developed a model for formulating organizational strategy that is applicable across
a wide variety of industries. - ANSWER-True
What did Michael Porter suggest to firms? - ANSWER-He suggests that firms should first analyze their
industry and then develop either a cost leadership strategy or a strategy based on differentiation.
Using a cost leadership strategy, a firm would focus on being the ___ -cost company in its industry. -
ANSWER-- low-cost
- They would stress efficiency and offer a standard, no-frills product.
Why do firms use a strategy based on differntiation? - ANSWER-a firm seeks to be unique in its industry
or market segment along particular dimensions that the customers value.
MBA Exit Exam 2025 – Complete Study Guide, Practice Questions,
and Business Competency Review for Graduate Students
Prepare for your MBA Exit Exam 2025 with this comprehensive study guide. Review strategy,
finance, accounting, marketing, operations, and economics concepts tested on major assessments
such as the ETS® MBA Major Field Test or Peregrine Comprehensive Exam. Includes sample
questions, key topics, and test-taking tips.
MBA exit exam 2025
MBA comprehensive exam
MBA major field test study guide
What is Market Planning? - ANSWER--Once an opportunity is recognized, the marketing executive must
then plan an appropriate strategy for taking advantage of the opportunity.
What are the steps to Marketing Planning? - ANSWER-· This process can be viewed in terms of the
following three interrelated tasks:
o Establishing marketing objectives (first step)
o Selecting the target market (second step)
o Developing the marketing mix (final step)
What is situation analysis? - ANSWER-a collection of methods that managers use to analyze an
organization's internal and external environment to understand the organization's capabilities,
customers, business environment, and market opportunities
What are two methods that can be utilized for situational analysis? - ANSWER-- The SWOT analysis
-Porter five forces analysis
,2|Page
T/F: . The competitive environment and other major environmental factors (e.g., social, economic, legal
etc.) may also be assessed to understand market opportunities. - ANSWER-True
In order to correctly conduct the situational analysis, firms must do what? - ANSWER-understand
whether their primary customers are other businesses (e.g., B2B markets) or the final end
users/consumers (e.g., B2C markets).
Why is relationship marketing important? - ANSWER-Because business marketers tend to deal with
fewer and larger buyers than consumer marketers.
What are Market Development strategies? - ANSWER-- · This strategy is about reaching new customer
segments or expanding internationally by targeting new geographic areas
What is an example of an organization using Market Development Strategies? - ANSWER-· This is what
for example IKEA has done over the past few decades in order to become one of the biggest furniture
retailers in the world. IKEA started off expanding to markets relatively close in terms of culture as to its
home country (Sweden) before targeting more challenging geographic areas such as China and the
Middle-East.
T/F: · Market development strategies are complex in practice. A lot of times they involve much, much
more than simply getting the product to a new market. - ANSWER-True
What are Product Development Strategies? - ANSWER-The new products developed would be directed
primarily to present customers.
Examples of Product Development Strategies? - ANSWER-Companies could for example make some
modifications in the existing products to give increased value to the customers for their purchase or
develope and launch new products alongside a company's existing product offering. A classic example of
product development is Apple launching a brand-new iPhone every few years.
What is Diversification in marketing? - ANSWER-It involves seeking new products (often through
acquisitions) for customers not currently being served.
, 3|Page
· This strategy can lead the organization into entirely new and even unrelated businesses.
What is an example of a company using Diversification in marketing? - ANSWER-A great example of a
conglomerate diversification is Samsung, which is operating in businesses varying from computers,
phones, and refrigerators to chemicals, insurances, and hotel chains.
What is a SWOT analysis? - ANSWER-strengths, weaknesses, opportunities, threats
SWOT analysis (or SWOT matrix) is a situation analysis technique used to help a person or organization
identify strengths, weaknesses, opportunities, and threats related to business competition or project
planning.
What is the intention of the SWOT analysis? - ANSWER-Specify the objectives of the business venture or
project and identify the internal and external factors that are favorable and unfavorable to achieving
those objectives (S and W are internal; O and T are external). See figure below.
T/F:· Michael Porter developed a model for formulating organizational strategy that is applicable across
a wide variety of industries. - ANSWER-True
What did Michael Porter suggest to firms? - ANSWER-He suggests that firms should first analyze their
industry and then develop either a cost leadership strategy or a strategy based on differentiation.
Using a cost leadership strategy, a firm would focus on being the ___ -cost company in its industry. -
ANSWER-- low-cost
- They would stress efficiency and offer a standard, no-frills product.
Why do firms use a strategy based on differntiation? - ANSWER-a firm seeks to be unique in its industry
or market segment along particular dimensions that the customers value.
