MBA MFT Exam Questions And 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
,MBA MFT Exam Questions And Answers
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
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
,MBA MFT Exam Questions And Answers
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
, MBA MFT Exam Questions And Answers
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
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
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
,MBA MFT Exam Questions And Answers
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
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
,MBA MFT Exam Questions And Answers
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
, MBA MFT Exam Questions And Answers
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
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
