Business Student Is Preparing for the Graduate Management Admission Test

question 169

Multiple Choice

business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school.He knows that any money he spends on a tutor will be well worth it if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.What is the next logical step in order for marketing to occur?

• A) He should buy a GMAT study guide at the bookstore.
• B) He should find out what the minimum score he needs to get into the school of his choice.
• C) He should check for ads for tutors in the college and local papers, ask his friends, look for flyers by her on a bulletin board in the business college student lounge, etc.
• D) He should consider alternatives to graduate school in case the scores he receives on his own are not sufficient admission.
• E) He should apply for delayed admission if he can't find this tutor.

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Definitions:

Mission Statement

A brief description of a company's fundamental purpose. It outlines what the company aims to accomplish, serving as a guide for all decision-making.

SWOT Analysis

A strategic planning tool that identifies an organization's Strengths, Weaknesses, Opportunities, and Threats.

Balanced Strategic Planning

An approach to strategic planning that ensures all aspects of the business are considered and aligned with the organization's goals, including financial and non-financial elements.

Intangible Assets

Non-physical assets possessing value, such as intellectual property, brand reputation, and trademarks.