MKTG 201 BYU Swenson Final (with Complete Solutions)

BCG Growth Model correct answers Stars, Cash cows, question marks, dogs Path to Profitability correct answers Marketing Environment, Marketing mix, capture value, profits Brand Champions/Love Group correct answers The group that supports your company and the products in it Product Market Expansion Matrix correct answers Market Penetration, Product Development, Market Development, Diversification Market Penetration correct answers existing products, existing markets Product Development correct answers existing market, new product Market Development correct answers New Market, existing product Diversification correct answers new product, new market Consumer lifetime value correct answers approximate worth of a customer to a company in economic terms; overall profitability of an individual consumer How marketing creates value correct answers meeting customers emotional and functional needs Target Market correct answers a set of buyers sharing common needs or characteristics that the company decides to serve Marketing Mix correct answers Product, Price, Place, Promotion Marketing Strategy correct answers a company's plan that identifies how it will use marketing to achieve its goals SWOT correct answers strengths, weaknesses, opportunities, threats External Environment correct answers All relevant forces outside a firm's boundaries, such as competitors, customers, the government, and the economy. Porter's five forces correct answers Threat of entrants, power of suppliers, threat of substitutes, power of buyers, competitive rivalry Domestic Marketing correct answers all marketing strategies focus on the market in the country of origin