MBA 706 Frequently Tested Exam 2026-2027
Questions With Verified Multiple Choice and
Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. Which of the following statements about pricing decisions in the marketing
program is TRUE?
a. Customers will always equate higher prices with higher quality products.
b. Pricing is the most difficult element of the marketing mix to change.
c. Price has a direct connection with customer demand.
d. Price is one of two elements of the marketing mix that leads to revenue -
ANSWER C. Price has a direct connection with customer demand
2. Tactical Planning - ANSWER This type of planning deals with specific
markets or market segments and the development of marketing programs that
will fulfill the needs of customers in those markets
3. A vision statement answers which of the following statements?
a. What business are we in?
b. Which is our market position?
c. How can we serve our target markets?
d. What do we want to become? - ANSWER D. What do we want to become?
, 4. In the context of marketing planning, why is it vital that the marketing plan be
capable of selling itself to top management?
a. Because top managers must be able to clearly communicate the strategy to
external stakeholders.
b. Because top managers are responsible for executing the marketing plan.
c. Because top managers must decide whether the marketing plan is the best use
for the organization's scarce resources.
d. Because top managers must ensure that the marketing program is successful. -
ANSWER D. Because top managers must decide whether the marketing plan is
the best use for the organization's scarce resources.
5. Motorola continuously establishes performance standards and assesses actual
performance by comparing it with these standards. Afterwards, Motorola often
takes corrective action to reduce any discrepancies. This process is most likely
outlined in the __________ section of Motorola's marketing plan.Motorola
continuously establishes performance standards and assesses actual performance
by comparing it with these standards. Afterwards, Motorola often takes corrective
action to reduce any discrepancies. This process is most likely outlined in the
__________ section of Motorola's marketing plan.
a. goals and objectives
b. evaluation and control
c. marketing strategy
d. marketing implementation - ANSWER B. evaluation and Control
6. What is needed to develop goals and objectives? - ANSWER Mission
Statement
,7. True/False: The SWOT analysis is derived from the marketing goals and
objectives section. - ANSWER False
8. Which of the following is NOT a part of evaluating the internal environment?
a. A review of current objectives, strategy, and performance.
b. A review of the current availability of organizational resources.
c. A review of the organizational structure.
d. A review of the competition. - ANSWER D. A review of the competition
9. What are the challenges and opportunities in today's economy? - ANSWER
• Power shift to customers
• Massive increase in product selection
• Audience and media fragmentation
• Changing value propositions
• Shift in demand patterns
• Privacy, security, and ethical concerns
• Unclear legal jurisdiction
10. Market - ANSWER Group of individuals or institutions with similar needs
that can be met by a specific product (collection of buyers and sellers)
11. Marketspace - ANSWER Electronic marketplaces unbound by time or
space (ex: Ebay or Etsy)
, 12. Meta market - ANSWER Cluster of closely related goods and services that
center around a specific consumption activity (Ex: automotive, homeownership,
parenting, etc.)
13. Today's economy is characterized by what? - ANSWER Rapid technological
change, economic/financial anxiety, and increasing consumer skepticism.
14. In 2005, the definition of marketing stressed what two critical success factors?
What was added in 2006 to the definition? - ANSWER Value and customer
relationship; meeting human and social needs
15. Metamediary - ANSWER Provides a single access point where buyers can
locate and contact many different sellers in the metamarket (ex: homeownership
= www.zillow.com, parenting = www.babycenter.com)
16. Exchange - ANSWER Traditionally defined as the process of obtaining
something of value from someone by offering something in return; this usually
entails obtaining products for money.
17. What are the 5 conditions of an exchange? - ANSWER •There must be at
least two parties for the exchange.
•Each party should have something that the other party values.
•Each party must be capable of communication and delivery.
•Each party must be free to accept or reject exchange.
•Each party must believe it is desirable to exchange with the other party.
Questions With Verified Multiple Choice and
Conceptual Actual 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. Which of the following statements about pricing decisions in the marketing
program is TRUE?
a. Customers will always equate higher prices with higher quality products.
b. Pricing is the most difficult element of the marketing mix to change.
c. Price has a direct connection with customer demand.
d. Price is one of two elements of the marketing mix that leads to revenue -
ANSWER C. Price has a direct connection with customer demand
2. Tactical Planning - ANSWER This type of planning deals with specific
markets or market segments and the development of marketing programs that
will fulfill the needs of customers in those markets
3. A vision statement answers which of the following statements?
a. What business are we in?
b. Which is our market position?
c. How can we serve our target markets?
d. What do we want to become? - ANSWER D. What do we want to become?
, 4. In the context of marketing planning, why is it vital that the marketing plan be
capable of selling itself to top management?
a. Because top managers must be able to clearly communicate the strategy to
external stakeholders.
b. Because top managers are responsible for executing the marketing plan.
c. Because top managers must decide whether the marketing plan is the best use
for the organization's scarce resources.
d. Because top managers must ensure that the marketing program is successful. -
ANSWER D. Because top managers must decide whether the marketing plan is
the best use for the organization's scarce resources.
5. Motorola continuously establishes performance standards and assesses actual
performance by comparing it with these standards. Afterwards, Motorola often
takes corrective action to reduce any discrepancies. This process is most likely
outlined in the __________ section of Motorola's marketing plan.Motorola
continuously establishes performance standards and assesses actual performance
by comparing it with these standards. Afterwards, Motorola often takes corrective
action to reduce any discrepancies. This process is most likely outlined in the
__________ section of Motorola's marketing plan.
a. goals and objectives
b. evaluation and control
c. marketing strategy
d. marketing implementation - ANSWER B. evaluation and Control
6. What is needed to develop goals and objectives? - ANSWER Mission
Statement
,7. True/False: The SWOT analysis is derived from the marketing goals and
objectives section. - ANSWER False
8. Which of the following is NOT a part of evaluating the internal environment?
a. A review of current objectives, strategy, and performance.
b. A review of the current availability of organizational resources.
c. A review of the organizational structure.
d. A review of the competition. - ANSWER D. A review of the competition
9. What are the challenges and opportunities in today's economy? - ANSWER
• Power shift to customers
• Massive increase in product selection
• Audience and media fragmentation
• Changing value propositions
• Shift in demand patterns
• Privacy, security, and ethical concerns
• Unclear legal jurisdiction
10. Market - ANSWER Group of individuals or institutions with similar needs
that can be met by a specific product (collection of buyers and sellers)
11. Marketspace - ANSWER Electronic marketplaces unbound by time or
space (ex: Ebay or Etsy)
, 12. Meta market - ANSWER Cluster of closely related goods and services that
center around a specific consumption activity (Ex: automotive, homeownership,
parenting, etc.)
13. Today's economy is characterized by what? - ANSWER Rapid technological
change, economic/financial anxiety, and increasing consumer skepticism.
14. In 2005, the definition of marketing stressed what two critical success factors?
What was added in 2006 to the definition? - ANSWER Value and customer
relationship; meeting human and social needs
15. Metamediary - ANSWER Provides a single access point where buyers can
locate and contact many different sellers in the metamarket (ex: homeownership
= www.zillow.com, parenting = www.babycenter.com)
16. Exchange - ANSWER Traditionally defined as the process of obtaining
something of value from someone by offering something in return; this usually
entails obtaining products for money.
17. What are the 5 conditions of an exchange? - ANSWER •There must be at
least two parties for the exchange.
•Each party should have something that the other party values.
•Each party must be capable of communication and delivery.
•Each party must be free to accept or reject exchange.
•Each party must believe it is desirable to exchange with the other party.
