BYU Marketing 201 Exam 1- Questions &
Answers
BCG Growth-Share Matrix Correct Ans-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
Corporate Strategy Correct Ans-Asks the question - What businesses should we be in?
Strategic Business Unit Strategy Correct Ans-Asks - How do we compete effectively against
the competitors?
Functional Strategy Correct Ans-strategy by which managers in specific areas decide how
best to achieve corporate goals through productivity
Path to Profitability Correct Ans-Marketing Environment--> Marketing Mix-->Capture value--
>Profits
The most powerful marketing strategies begin by seeing the product through the eyes of
_________ Correct Ans-Brand Champions/Love Group
, Product Market Expansion Matrix Correct Ans-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
Customer Lifetime Value (CLV) Correct Ans-approximate worth of a customer to a company
in economic terms; overall profitability of an individual consumer
How does marketing create value for the customer? Correct Ans-by meeting customers
functional and emotional needs
Target Market Correct Ans-a set of buyers sharing common needs or characteristics that the
company decides to serve
Marketing Mix Correct Ans-Product, Price, Place, Promotion
What are the four profitability drivers? Correct Ans-Customer Acquisition, Customer
Retention, Sales per Customer, margin
What is Customer Acquisition Correct Ans-finding new, profitable ways to acquire customers
that are higher-value
Answers
BCG Growth-Share Matrix Correct Ans-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
Corporate Strategy Correct Ans-Asks the question - What businesses should we be in?
Strategic Business Unit Strategy Correct Ans-Asks - How do we compete effectively against
the competitors?
Functional Strategy Correct Ans-strategy by which managers in specific areas decide how
best to achieve corporate goals through productivity
Path to Profitability Correct Ans-Marketing Environment--> Marketing Mix-->Capture value--
>Profits
The most powerful marketing strategies begin by seeing the product through the eyes of
_________ Correct Ans-Brand Champions/Love Group
, Product Market Expansion Matrix Correct Ans-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
Customer Lifetime Value (CLV) Correct Ans-approximate worth of a customer to a company
in economic terms; overall profitability of an individual consumer
How does marketing create value for the customer? Correct Ans-by meeting customers
functional and emotional needs
Target Market Correct Ans-a set of buyers sharing common needs or characteristics that the
company decides to serve
Marketing Mix Correct Ans-Product, Price, Place, Promotion
What are the four profitability drivers? Correct Ans-Customer Acquisition, Customer
Retention, Sales per Customer, margin
What is Customer Acquisition Correct Ans-finding new, profitable ways to acquire customers
that are higher-value
