MBA 706 Final Exam Questions with Correct Answers Latest Update 2025/2026
Customers are: - Answers customers, clients, partners & society at large
Marketing Mix - Answers creating offering (products), delivering (distribution), value (pricing),
communicating (integrated marketing communication)
Strategic Planning - Answers the activity, set of institutions & processes
Customer decision processes are driven by: - Answers needs, wants, & desires which are
culturally define
What is the purpose for a target market? - Answers Because sellers cannot meet everyones
needs, wants, and desires, they usually focus on a specific group to focus their marketing
efforts
Marketing Mix (4 P's) - Answers Product, Price, Place, Promotion
products can be defined as: - Answers goods (tangible), services (intangible), & ideas (concepts)
What impacts distribution? - Answers costs, availability, & consumer perceptions
Pricing can be a proxy for what? - Answers quality
strategic planning includes a set of processes which are what? - Answers heavily dependent on
data driven decision making
Strategic planning is only effective if we ________ - Answers monitor and control
marketing process model 5 steps - Answers 1. market & environmental analysis
2. fixing marketing target
3. setting marketing strategy
4. marketing mix
5. marketing controlling
what is marketing management - Answers the process of controlling marketing activities
through the planning process
philip kotler says marketing management is _______ - Answers both and art and a science
What are markets? - Answers groups of individuals and/or organizations with similar needs or
desires and the ability and willingness to purchase a product that can fulfill the need or desire
What are industries? - Answers groups of individuals and/or organizations providing offerings
which are a perceived substitute or close substitute
Customers are: - Answers customers, clients, partners & society at large
Marketing Mix - Answers creating offering (products), delivering (distribution), value (pricing),
communicating (integrated marketing communication)
Strategic Planning - Answers the activity, set of institutions & processes
Customer decision processes are driven by: - Answers needs, wants, & desires which are
culturally define
What is the purpose for a target market? - Answers Because sellers cannot meet everyones
needs, wants, and desires, they usually focus on a specific group to focus their marketing
efforts
Marketing Mix (4 P's) - Answers Product, Price, Place, Promotion
products can be defined as: - Answers goods (tangible), services (intangible), & ideas (concepts)
What impacts distribution? - Answers costs, availability, & consumer perceptions
Pricing can be a proxy for what? - Answers quality
strategic planning includes a set of processes which are what? - Answers heavily dependent on
data driven decision making
Strategic planning is only effective if we ________ - Answers monitor and control
marketing process model 5 steps - Answers 1. market & environmental analysis
2. fixing marketing target
3. setting marketing strategy
4. marketing mix
5. marketing controlling
what is marketing management - Answers the process of controlling marketing activities
through the planning process
philip kotler says marketing management is _______ - Answers both and art and a science
What are markets? - Answers groups of individuals and/or organizations with similar needs or
desires and the ability and willingness to purchase a product that can fulfill the need or desire
What are industries? - Answers groups of individuals and/or organizations providing offerings
which are a perceived substitute or close substitute
