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COBA Exam Questions with
Detailed Verified Answers
Start of MARK 3321 content Ans: ...
Marketing Concept Ans: Social and economic justification for an
organization's existence is the satisfaction of customer wants and
needs while meeting organizational objectives
Elements of a Marketing Plan Ans: - Business Mission Statement
- Situation, or SWOT, Analysis
- Objectives
- Marketing Strategy
- Implementation Evaluation Control
Marketing Mix Ans: - Product
- Price
- Place
- Promotion
Market Segmentation Ans: Process of dividing a market into
meaningful, relatively similar, and identifiable segments or groups
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Target Market Ans: - Group of people or organizations for which
an organization designs, implements, and maintains a marketing
mix
- Meeting its needs results in mutually satisfying exchanges
- Most likely to buy
Marketing Positioning Ans: The process of defining the marketing
mix variables so that target customers have a clear, distinctive,
desirable understanding of what the product does or represents in
comparison with competing products.
Start of OPMA 3306 Ans: ...
Operations and Supply Chain Management (OSCM) Ans: The
design, operation, and improvement of the systems that create
and deliver the firm's primary products and services
Forecasting Ans: the basis of corporate planning and control
Strategic Forecasts Ans: Medium- and long-term forecast used to
make decisions related to strategy and estimating aggregate
demand
Tactical Forecasts Ans: - The goal is to estimate demand in the
short-term (a few weeks or months)
- Are important to ensure that in the short-term we are able to
meet customer lead-time expectations and other criteria related
to availability of products and services
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4 Basic Types of Forecasting Ans: - Qualitative
- Time Series
- Causal Relationships
- Simulation
Qualitative Forecasting Ans: - take advantage of knowledge of
experts and require judgment
- useful when relative data are N/A
Causal Forecasting Ans: - dependent variable is related to one or
more independent variables
- independent variables are assumed to "cause" the results
observed in the past
Naive Forecasts Ans: Forecast for the next period equals the
demand for the current period (F = Dt)
Simple Moving Average definition Ans: - Forecast based on
average past demand
- Useful in removing random fluctuations for forecasting
- Oldest period is discarded each time a new forecast is made
Simple Moving Average formula Ans: - Ft = (At-1 + At-2 + At-3
+...+At-n) / n
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- Ft = forecast for coming period
- n = number of periods to be averaged
- At-x = actual occurrence x periods ago
Weighted Moving Average formula Ans: - Ft = w1(At-1) + w2(At-2)
+ ... + wn(At-n)
- w = weight
- n = total number of prior periods in forecast
- At-x = actual occurrence x periods ago
Exponential Smoothing Ans: - Most logical method to use if the
importance of data diminishes as past becomes more distant
- Most used of all forecasting techniques
Exponential Smoothing Formula Ans: - Ft = Ft-1 + α(At-1 - Ft-1)
- Ft-1 = forecast for prior period
- At-1 = actual demand in prior period
- α = desired response rate/smoothing constant
Forecast Error Ans: - the difference between actual demand and
the forecast
- all forecasts contain some level of error
COBA Exam Questions with
Detailed Verified Answers
Start of MARK 3321 content Ans: ...
Marketing Concept Ans: Social and economic justification for an
organization's existence is the satisfaction of customer wants and
needs while meeting organizational objectives
Elements of a Marketing Plan Ans: - Business Mission Statement
- Situation, or SWOT, Analysis
- Objectives
- Marketing Strategy
- Implementation Evaluation Control
Marketing Mix Ans: - Product
- Price
- Place
- Promotion
Market Segmentation Ans: Process of dividing a market into
meaningful, relatively similar, and identifiable segments or groups
, Page | 2
Target Market Ans: - Group of people or organizations for which
an organization designs, implements, and maintains a marketing
mix
- Meeting its needs results in mutually satisfying exchanges
- Most likely to buy
Marketing Positioning Ans: The process of defining the marketing
mix variables so that target customers have a clear, distinctive,
desirable understanding of what the product does or represents in
comparison with competing products.
Start of OPMA 3306 Ans: ...
Operations and Supply Chain Management (OSCM) Ans: The
design, operation, and improvement of the systems that create
and deliver the firm's primary products and services
Forecasting Ans: the basis of corporate planning and control
Strategic Forecasts Ans: Medium- and long-term forecast used to
make decisions related to strategy and estimating aggregate
demand
Tactical Forecasts Ans: - The goal is to estimate demand in the
short-term (a few weeks or months)
- Are important to ensure that in the short-term we are able to
meet customer lead-time expectations and other criteria related
to availability of products and services
, Page | 3
4 Basic Types of Forecasting Ans: - Qualitative
- Time Series
- Causal Relationships
- Simulation
Qualitative Forecasting Ans: - take advantage of knowledge of
experts and require judgment
- useful when relative data are N/A
Causal Forecasting Ans: - dependent variable is related to one or
more independent variables
- independent variables are assumed to "cause" the results
observed in the past
Naive Forecasts Ans: Forecast for the next period equals the
demand for the current period (F = Dt)
Simple Moving Average definition Ans: - Forecast based on
average past demand
- Useful in removing random fluctuations for forecasting
- Oldest period is discarded each time a new forecast is made
Simple Moving Average formula Ans: - Ft = (At-1 + At-2 + At-3
+...+At-n) / n
, Page | 4
- Ft = forecast for coming period
- n = number of periods to be averaged
- At-x = actual occurrence x periods ago
Weighted Moving Average formula Ans: - Ft = w1(At-1) + w2(At-2)
+ ... + wn(At-n)
- w = weight
- n = total number of prior periods in forecast
- At-x = actual occurrence x periods ago
Exponential Smoothing Ans: - Most logical method to use if the
importance of data diminishes as past becomes more distant
- Most used of all forecasting techniques
Exponential Smoothing Formula Ans: - Ft = Ft-1 + α(At-1 - Ft-1)
- Ft-1 = forecast for prior period
- At-1 = actual demand in prior period
- α = desired response rate/smoothing constant
Forecast Error Ans: - the difference between actual demand and
the forecast
- all forecasts contain some level of error
