COBA EXAM QUESTIONS AND ANSWERS

COBA EXAM QUESTIONS AND
ANSWERS 2026 - 2027

Marketing Concept - ANSWERS-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 - ANSWERS-- Business Mission
Statement
- Situation, or SWOT, Analysis
- Objectives
- Marketing Strategy
- Implementation Evaluation Control


Marketing Mix - ANSWERS-- Product
- Price
- Place
- Promotion


Market Segmentation - ANSWERS-Process of dividing a market into
meaningful, relatively similar, and identifiable segments or groups


Target Market - ANSWERS-- 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 - ANSWERS-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 - ANSWERS-...


Operations and Supply Chain Management (OSCM) - ANSWERS-
The design, operation, and improvement of the systems that create
and deliver the firm's primary products and services


Forecasting - ANSWERS-the basis of corporate planning and control


Strategic Forecasts - ANSWERS-Medium- and long-term forecast
used to make decisions related to strategy and estimating aggregate
demand


Tactical Forecasts - ANSWERS-- 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

,4 Basic Types of Forecasting - ANSWERS-- Qualitative
- Time Series
- Causal Relationships
- Simulation


Qualitative Forecasting - ANSWERS-- take advantage of knowledge
of experts and require judgment
- useful when relative data are N/A


Causal Forecasting - ANSWERS-- dependent variable is related to
one or more independent variables
- independent variables are assumed to "cause" the results observed in
the past


Naive Forecasts - ANSWERS-Forecast for the next period equals the
demand for the current period (F = Dt)


Simple Moving Average definition - ANSWERS-- 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 - ANSWERS-- Ft = (At-1 + At-2 +
At-3 +...+At-n) / n
- Ft = forecast for coming period

, - n = number of periods to be averaged
- At-x = actual occurrence x periods ago


Weighted Moving Average formula - ANSWERS-- 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 - ANSWERS-- 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 - ANSWERS-- 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 - ANSWERS-- the difference between actual demand
and the forecast
- all forecasts contain some level of error


Start of BLAW3310 - ANSWERS-...