BYU Marketing 201 Swenson Final exam with complete solutions

BYU Marketing 201 Swenson Final exam with
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complete solutions \|




BCG Portfolio Model - CORRECT ANSWERS ✔✔
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Product-Market Expansion Matrix - CORRECT ANSWERS ✔✔
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Marketing Philosophies - CORRECT ANSWERS ✔✔Product
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Orientation,
Sales Orientation,
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Market Orientation,
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Societal Orientation\|

,Product Orientation - CORRECT ANSWERS ✔✔All about the
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product. Does not consider competitors or the needs of the
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market.


Sales Orientation - CORRECT ANSWERS ✔✔Aggressive sales
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techniques, may fail to understand customer needs\| \| \| \| \| \|




Market Orientation - CORRECT ANSWERS ✔✔Understand
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customer needs, company capabilities, knows competitors, and
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wants to make a profit.
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Societal Orientation - CORRECT ANSWERS ✔✔Concerned about
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the environment, consider society's long-term best interest
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Competitive Rivalry - CORRECT ANSWERS ✔✔Rivalry among \| \| \| \| \| \| \|


existing companies in a particular industry varies in intensity
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based on the type and number of competitors and on the basis
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of competition—price discounting, advertising, new product
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offerings, and service quality. High competitive rivalry drives
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down industry profits. Delta vs. United
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Power of Suppliers - CORRECT ANSWERS ✔✔Powerful suppliers
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can drive down industry profits by charging higher prices and/or
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reducing product and service quality. Oil Industry or Boeing
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Power of Buyers - CORRECT ANSWERS ✔✔Powerful buyers
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(customers) can use their clout to demand and receive lower
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prices, increased product quality, and more services. Gold
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Medallions get upgraded \| \|

,Threat of Entrants - CORRECT ANSWERS ✔✔New entrants can
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shake up an industry and cause increased competition as they
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seek to take market share from existing companies in the
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industry. New Airline \| \|




Porter's Five Forces Model - CORRECT ANSWERS ✔✔Threat of new
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entrants
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Threat of substitutes
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Bargaining power of buyers \| \| \|




Bargaining power of suppliers \| \| \|




Current rivalry \|




Global Market Entry Strategies - CORRECT ANSWERS
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✔✔Exporting
Licensing
Joint venture
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Direct investment
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Exporting - CORRECT ANSWERS ✔✔Goods produced in the home
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country are exported to a foreign market
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Licensing - CORRECT ANSWERS ✔✔Selling the right to another
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company to use some process, trademark, patent, or other skill
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, Joint Venture - CORRECT ANSWERS ✔✔A company joins with a
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foreign market to create a local business in which the company
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shares joint ownership and control.
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Direct Investment - CORRECT ANSWERS ✔✔Build up wholly
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owned operations in other countries
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The Fraud Triangle - CORRECT ANSWERS ✔✔Opportunity:
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Condition that allows the fraudulent behavior to occur Pressure:
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The weight of the burden felt by the person who commits fraud
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Rationalization: The process of reconciling or justifying \| \| \| \| \| \| \|


fraudulent behavior \|




Analysis of Variance - CORRECT ANSWERS ✔✔Analyze
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differences among group means \| \| \|




Purpose: testing for differences in group averages
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Usage: evaluate effectiveness of marketing policies
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Outcome: evidence to inform marketing decisions
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Regression Analysis - CORRECT ANSWERS ✔✔Relationship
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between a dependent variable and one or more independent or
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predictor variables \|




Purpose: testing for effects of certain variables on an outcome
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Usage: evaluate advertising, product, and pricing policies
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Outcome: evidence to inform marketing decisions
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