ACTUAL EXAM(2025) QUESTIONS AND
(ELABORATED) WITH COMPLETE
SOLUTIONS
1. Functional relationships
Answer Limited, ongoing relationships that develop when a buyer continues to pur- chase a product from
a seller out of habit, as long as its needs are met
2. Modular structure
Answer Divides the business into small, tightly knit strategic business units (SBUs), which focus on specific
elements of the organizational process
3. Value chain
Answer The process or activities by which a company adds value to a product, including production,
marketing, and the provision of after-sales service
4. Strategic business units (SBUs)
Answer A profit center that focuses on product ottering and market segment
,5. Sustainable competitive advantage
Answer Company assets, attributes, or abilities that are diflcult to duplicate or exceed and provide a
superior or favorable long-term position over competitors
6. Factors that can help a business develop a sustainable competitive advan- tage
Answer Customer loyalty, location, distribution and information systems (Getting products at a cheap price and
selling them at a reasonable price), unique merchandise, vendor relations, customer service, and multiple source
advantage (being widely recognized by your strengths)
7. Business intelligence (BI)
Answer The use of data in an enterprise to facilitate decision-making
8. Big data analytics
Answer Large, complex data sets that require non-traditional data processing software to predict trends and
forecasts
9. Four elements that make up ethical behavior within an organization
Answer A written code of ethics and standards. Ethics training to executives, managers, and employees.
,Availability of advice on ethical situations (advice lines or ethics oflces). A system for confidential reporting.
10. Integrated marketing communications (IMC)
Answer The careful coordination of all promotional
activities—media advertising, sales promotion, personal selling, and public relations, as well as direct marketing,
packaging, and other forms of promotion—to produce a consistent, unified message that is customer focused
11. Marketing concept
Answer Identifying consumer needs and then producing the goods or services that will satisfy
those needs while making a profit for the organization
12. Promotional techniques
Answer Advertising, sales promotion, and publicity, or creating new sales channels or new products
13. Promotional mix
Answer The combination of advertising, personal selling, sales promotion, and public relations used to
promote a product
14. The main limitation of the AIDA model
, Answer The model assumes consumers are passive and marketers are active during most of the
buying process.