BYU MARKETING 201 EXAM 1 ACTUAL QUESTIONS AND ANSWERS
2027 UPDATE 100% CORRECT
Question 1.
Cash Cow - High market share, low market Growth Stars - High market share, high market
growth ?'s - High market growth, Low market share Dog - Low market growth, low market
share
Correct Answer: BCG Growth-Share Matrix
Question 2.
Asks the question - What businesses should we be in?
Correct Answer: Corporate Strategy
Question 3.
Asks - How do we compete effectively against the competitors?
Correct Answer: Strategic Business Unit Strategy
Question 4.
strategy by which managers in specific areas decide how best to achieve corporate goals
through productivity
Correct Answer: Functional Strategy
Question 5.
Marketing Environment--> Marketing Mix-->Capture value-->Profits
Correct Answer: Path to Profitability
Question 6.
Brand Champions/Love Group
Correct Answer: The most powerful marketing strategies begin by seeing the
product through the eyes of _________
Question 7.
market penetration -Existing product entering an existing market product development -
New product entering into an existing market market development - Existing product
entering into a new market diversification - New product in a new market
Correct Answer: Product Market Expansion Matrix
, Question 8.
approximate worth of a customer to a company in economic terms; overall profitability of
an individual consumer
Correct Answer: Customer Lifetime Value (CLV)
Question 9.
by meeting customers functional and emotional needs
Correct Answer: How does marketing create value for the customer?
Question 10.
a set of buyers sharing common needs or characteristics that the company decides to
serve
Correct Answer: Target Market
Question 11.
Product, Price, Place, Promotion
Correct Answer: Marketing Mix
Question 12.
Customer Acquisition, Customer Retention, Sales per Customer, margin
Correct Answer: What are the four profitability drivers?
Question 13.
finding new, profitable ways to acquire customers that are higher-value
Correct Answer: What is Customer Acquisition
Question 14.
To eliminate the root causes of customer defections, develop loyalty initiatives and acquire
more loyal customers
Correct Answer: What is Customer Retention?
Question 15.
How much the customer purchases of your product. As a profitability driver it serves to
increase their purchase of the product
Correct Answer: What are sales per customer?
Question 16.
They help to cut down unneeded costs and drive profitability in the firm
Correct Answer: What are margins?
2027 UPDATE 100% CORRECT
Question 1.
Cash Cow - High market share, low market Growth Stars - High market share, high market
growth ?'s - High market growth, Low market share Dog - Low market growth, low market
share
Correct Answer: BCG Growth-Share Matrix
Question 2.
Asks the question - What businesses should we be in?
Correct Answer: Corporate Strategy
Question 3.
Asks - How do we compete effectively against the competitors?
Correct Answer: Strategic Business Unit Strategy
Question 4.
strategy by which managers in specific areas decide how best to achieve corporate goals
through productivity
Correct Answer: Functional Strategy
Question 5.
Marketing Environment--> Marketing Mix-->Capture value-->Profits
Correct Answer: Path to Profitability
Question 6.
Brand Champions/Love Group
Correct Answer: The most powerful marketing strategies begin by seeing the
product through the eyes of _________
Question 7.
market penetration -Existing product entering an existing market product development -
New product entering into an existing market market development - Existing product
entering into a new market diversification - New product in a new market
Correct Answer: Product Market Expansion Matrix
, Question 8.
approximate worth of a customer to a company in economic terms; overall profitability of
an individual consumer
Correct Answer: Customer Lifetime Value (CLV)
Question 9.
by meeting customers functional and emotional needs
Correct Answer: How does marketing create value for the customer?
Question 10.
a set of buyers sharing common needs or characteristics that the company decides to
serve
Correct Answer: Target Market
Question 11.
Product, Price, Place, Promotion
Correct Answer: Marketing Mix
Question 12.
Customer Acquisition, Customer Retention, Sales per Customer, margin
Correct Answer: What are the four profitability drivers?
Question 13.
finding new, profitable ways to acquire customers that are higher-value
Correct Answer: What is Customer Acquisition
Question 14.
To eliminate the root causes of customer defections, develop loyalty initiatives and acquire
more loyal customers
Correct Answer: What is Customer Retention?
Question 15.
How much the customer purchases of your product. As a profitability driver it serves to
increase their purchase of the product
Correct Answer: What are sales per customer?
Question 16.
They help to cut down unneeded costs and drive profitability in the firm
Correct Answer: What are margins?
