MBA 706 MINSEONG Kim Exam2 with Questions and Correct Answers 2025.

MBA 706 MINSEONG Kim Exam2 with
Questions and Correct Answers 2025




The ,marketing ,program ,is ,a ,strategic ,combination ,of ,- ,CORRECT ,ANSWER-four
,marketing ,mix ,elements ,- ,price, ,product, ,promotion ,and ,place


the ,marketing ,program ,is ,aimed ,at ,- ,CORRECT ,ANSWER-maximizing ,tangible,
,intangible, ,and ,perceptual ,attributes ,of ,a ,complete ,offering


in ,the ,case ,of ,commoditization, ,most ,companies ,try ,to ,enhance ,the ,service ,or
,symbolic ,elements ,of ,their ,offerings ,by ,changing ,- ,CORRECT ,ANSWER-price,
,distribution ,or ,promotion


the ,best ,marketing ,considers ,all ,- ,CORRECT ,ANSWER-four ,elements ,of ,the
,marketing ,program ,rather ,than ,emphasizing ,a ,single ,element


the ,product ,strategy ,is ,the ,- ,CORRECT ,ANSWER-most ,critical ,strategic ,decision ,in
,the ,marketing ,plan


the ,product ,strategy ,involves ,- ,CORRECT ,ANSWER-design, ,development, ,branding
,and ,positioning ,decisions


real ,value ,of ,offerings ,- ,CORRECT ,ANSWER-Ability ,to ,deliver ,benefits ,that ,enhance
,customer's ,situation ,or ,solves ,a ,customer's ,problems


products ,generally ,fall ,into ,two ,separate ,categories ,which ,are ,- ,CORRECT ,ANSWER-
business ,product ,or ,consumer ,products

business ,products ,- ,CORRECT ,ANSWER-products ,meant ,for ,use ,in ,producing ,other
,products ,- ,resale ,or ,needed ,for ,company ,operations

,consumer ,products ,- ,CORRECT ,ANSWER-for ,personal ,use ,and ,enjoyment

at ,the ,heart ,of ,every ,organization ,lies ,one ,or ,more ,products ,defining ,- ,CORRECT
,ANSWER-what ,the ,org ,does ,and ,why ,it ,exists


consumer ,product ,categories ,- ,CORRECT ,ANSWER-convenience ,products, ,shopping
,products, ,specialty ,products, ,unsought ,products


convenience ,products ,- ,CORRECT ,ANSWER-items ,that ,the ,consumer ,purchases
,frequently, ,conveniently, ,and ,with ,a ,minimum ,of ,shopping ,effort ,- ,soft ,drinks ,candy
,gasoline ,dry ,cleaning


shopping ,products ,- ,CORRECT ,ANSWER-items ,for ,which ,buyers ,are ,willing ,to
,expend ,considerable ,effort ,in ,planning ,and ,making ,purchases ,- ,appliances, ,furniture,
,clothing, ,vacations


specialty ,products ,- ,CORRECT ,ANSWER-items ,with ,unique ,characteristics ,that
,buyers ,are ,willing ,to ,expend ,considerable ,effort ,to ,obtain ,- ,antiques, ,sports
,memorabilia, ,luxury ,items


unsought ,products ,- ,CORRECT ,ANSWER-items ,that ,the ,consumer ,does ,not ,know
,about ,or ,knows ,about ,but ,does ,not ,initially ,want ,or ,need ,until ,a ,need ,arises ,-
,emergency ,medicine, ,repair ,products, ,insurance


business ,product ,categories ,- ,CORRECT ,ANSWER-installations, ,accessory
,equipment, ,maintenance ,repair ,and ,operating ,products, ,raw ,materials, ,component
,parts ,and ,processed ,materials, ,business ,services


raw ,materials ,- ,CORRECT ,ANSWER-Unprocessed ,natural ,products ,used ,in
,production ,- ,iron ,ore, ,chemicals, ,wood ,pulp


component ,parts ,- ,CORRECT ,ANSWER-either ,finished ,items ,ready ,for ,assembly ,or
,products ,that ,need ,very ,little ,processing ,before ,becoming ,part ,of ,some ,other ,product
,- ,spark ,plugs, ,computer ,chips, ,pane ,glass, ,hard ,drives


processed ,materials ,- ,CORRECT ,ANSWER-products ,used ,directly ,in ,manufacturing
,other ,products ,- ,food ,attitives, ,wood ,sealants, ,paint ,colorings


maintenance, ,repair, ,and ,operating ,products ,- ,CORRECT ,ANSWER-consists ,of ,small-
ticket ,items ,that ,businesses ,consume ,on ,an ,ongoing ,basis ,but ,don't ,become ,part ,of
,the ,final ,product ,- ,furniture, ,building ,security, ,janitorial ,services


installations ,- ,CORRECT ,ANSWER-important ,capital ,items ,such ,as ,buildings, ,land
,rights, ,and ,major ,equipment ,- ,enterprise ,systems, ,buildings, ,HVAC

, business ,services ,- ,CORRECT ,ANSWER-Services ,that ,primarily ,meet ,the ,needs ,of
,other ,businesses, ,including ,professional, ,financial, ,and ,transportation ,services ,- ,legal
,services, ,accounting, ,consulting ,and ,research


product ,line ,- ,CORRECT ,ANSWER-a ,group ,of ,closely ,related ,product ,items

product ,mix ,or ,portfolio ,- ,CORRECT ,ANSWER-total ,group ,of ,products ,offered ,by ,the
,firm


critical ,strategic ,decisions ,- ,CORRECT ,ANSWER-Width ,or ,variety ,of ,product ,mix,
,which ,refers ,to ,the ,number ,of ,product ,lines ,offered ,- ,assortment ,or ,depth ,of ,each
,product ,line


by ,offering ,a ,wide ,variety ,of ,product ,lines, ,a ,firm ,can ,- ,CORRECT ,ANSWER-diversify
,its ,risk ,across ,a ,portfolio ,of ,items


a ,wide ,product ,mix ,can ,capitalize ,on ,- ,CORRECT ,ANSWER-the ,strength ,and
,reputation ,of ,the ,firm


firms ,can ,attract ,a ,wide ,range ,of ,customers ,and ,market ,segments ,by ,- ,CORRECT
,ANSWER-offering ,a ,deep ,assortment ,of ,products ,in ,a ,specific ,line


potential ,benefits ,of ,offering ,a ,large ,product ,portfolio ,- ,CORRECT ,ANSWER-1.
,economies ,of ,scale
2. ,package ,uniformity
3. ,standardization
4. ,sales ,and ,distribution ,efficiency
5. ,equivalent ,quality ,beliefs

economies ,of ,scale ,- ,CORRECT ,ANSWER-Offering ,many ,different ,product ,lines ,can
,create ,economies ,of ,scale ,in ,production, ,bulk ,buying, ,and ,promotion.


package ,uniformity ,- ,CORRECT ,ANSWER-packages ,in ,the ,product ,line ,may ,have ,a
,common ,look ,but ,maintain ,their ,individual ,identities ,- ,same ,look ,and ,feel


standardization ,- ,CORRECT ,ANSWER-product ,lines ,can ,use ,the ,same ,component
,parts


sales ,and ,distribution ,efficiency ,- ,CORRECT ,ANSWER-Sales ,personnel ,can ,offer ,a
,full ,range ,of ,choices ,and ,options ,to ,customers.


equivalent ,quality ,beliefs ,- ,CORRECT ,ANSWER-Customers ,expect ,and ,believe ,that
,all ,products ,in ,a ,line ,are ,equal ,in ,terms ,of ,quality ,and ,performance.


unique ,characteristics ,of ,services ,and ,resulting ,marketing ,challenges ,- ,CORRECT
,ANSWER-- ,intangibility