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MBA 706 Exam 1 and answ
MBA 706 Exam 1 and answers 
 the curse of mature markets whereby products lack any real means of differentiation 
and customers see competing products as offering roughly the same 
benefitsCommoditization 
 
involves the analysis of economic, political, legal, technological, and cultural events 
and trends that may affect the future of the organization and its marketing 
efforts.Environmental scanning 
 
C. Price has a direct connection with customer demandWhich of the following 
state...
- Package deal
- Exam (elaborations)
- • 14 pages •
MBA 706 Exam 1 and answers 
 the curse of mature markets whereby products lack any real means of differentiation 
and customers see competing products as offering roughly the same 
benefitsCommoditization 
 
involves the analysis of economic, political, legal, technological, and cultural events 
and trends that may affect the future of the organization and its marketing 
efforts.Environmental scanning 
 
C. Price has a direct connection with customer demandWhich of the following 
state...
MBA 706 Exam 1 and answers
MBA 706 Exam 1 and answers 
Commoditizationthe curse of mature markets whereby products lack any real 
means of differentiation and customers see competing products as offering roughly 
the same benefits 
 
Environmental scanninginvolves the analysis of economic, political, legal, 
technological, and cultural events and trends that may affect the future of the 
organization and its marketing efforts. 
 
Which of the following statements about pricing decisions in the marketing program ...
- Package deal
- Exam (elaborations)
- • 14 pages •
MBA 706 Exam 1 and answers 
Commoditizationthe curse of mature markets whereby products lack any real 
means of differentiation and customers see competing products as offering roughly 
the same benefits 
 
Environmental scanninginvolves the analysis of economic, political, legal, 
technological, and cultural events and trends that may affect the future of the 
organization and its marketing efforts. 
 
Which of the following statements about pricing decisions in the marketing program ...
MBA 706 Chen: Exam 1 and answers
MBA 706 Chen: Exam 1 and answers 
What is marketing?- Helps to build brand equity and the company reputations - Helps engage the customer and the company can learn from its customers 
relationships - Helps a company stay ahead of the competition 
What can be marketed?- Goods - Services - Experiences - Events - Persons - Places - Properties - Organizations - Information - Ideas 
Product/production orientation- Focus on building a better gadget - Ford Model T 
Sales orientationFocus on convin...
- Package deal
- Exam (elaborations)
- • 6 pages •
MBA 706 Chen: Exam 1 and answers 
What is marketing?- Helps to build brand equity and the company reputations - Helps engage the customer and the company can learn from its customers 
relationships - Helps a company stay ahead of the competition 
What can be marketed?- Goods - Services - Experiences - Events - Persons - Places - Properties - Organizations - Information - Ideas 
Product/production orientation- Focus on building a better gadget - Ford Model T 
Sales orientationFocus on convin...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 5 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 7 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 6 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 2 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 3 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 3 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
Exam (elaborations) JRN 430
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...
- Exam (elaborations)
- • 4 pages •
JRN 430 answers 
 Judicial ReviewThe power of the courts to declare laws unconstitutional 
 
JurisdictionThe authority of a court to hear a case. 
2 types - Geographical - Topical 
 
precedentA decision made by a higher court that serves as a basis for deciding 
similar cases 
 
Common LawA legal system based on precedents, established by the courts 
Unwritten 
 
Civil LawA legal system based on a written code of laws 
 
Four Principle of Law1.) Individuals and entities are accoun...