MBA 706 Study guides, Class notes & Summaries

MBA 706 TEST 1 STUDY GUIDE

MBA 706 - EXAM 3 SOLVED QUESTIONS WITH CORRECT ANSWERS GRADED A+// LATEST UPDATE

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

Market Segmentation - correct answer The process of dividing consumers into groups with similar consumer characteristics and product needs. Market Segmentation - correct answer Allows managers to break the market into small manageable groups, so that firms can tailor their offerings to satisfy different needs and wants. Three Marketing Strategies - correct answer Undifferentiated (Mass Marketing), Differentiated (Product-Variety), Concentrated (Target) Undifferentiated (Mass Marketing) ...

What is the definition of a mission? - correct answer Unique purpose that distinguishes the organization from other companies and defines the boundaries of its operations What does a mission do? - correct answer Proclamation of organizations primary objective that encapsulates its core values What should a mission do? - correct answer Characterize the organization's principles and priorities and define the broad product, market, and technologies that are core to the business. A Mission...