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BYU MARKETING 201 EXAM 1
QUESTIONS WITH SOLUTIONS
BCG Growth-Share Matrix - correct-answer-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-answer-Asks the question - What businesses should
we be in?
Strategic Business Unit Strategy - correct-answer-Asks - How do we compete
effectively against the competitors?
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Functional Strategy - correct-answer-strategy by which managers in specific areas
decide how best to achieve corporate goals through productivity
Path to Profitability - correct-answer-Marketing Environment--> Marketing Mix--
>Capture value-->Profits
The most powerful marketing strategies begin by seeing the product through the
eyes of _________ - correct-answer-Brand Champions/Love Group
Product Market Expansion Matrix - correct-answer-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
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Customer Lifetime Value (CLV) - correct-answer-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-answer-by meeting
customers functional and emotional needs
Target Market - correct-answer-a set of buyers sharing common needs or
characteristics that the company decides to serve
Marketing Mix - correct-answer-Product, Price, Place, Promotion
What are the four profitability drivers? - correct-answer-Customer Acquisition,
Customer Retention, Sales per Customer, margin
BYU MARKETING 201 EXAM 1
QUESTIONS WITH SOLUTIONS
BCG Growth-Share Matrix - correct-answer-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-answer-Asks the question - What businesses should
we be in?
Strategic Business Unit Strategy - correct-answer-Asks - How do we compete
effectively against the competitors?
,2|Page
Functional Strategy - correct-answer-strategy by which managers in specific areas
decide how best to achieve corporate goals through productivity
Path to Profitability - correct-answer-Marketing Environment--> Marketing Mix--
>Capture value-->Profits
The most powerful marketing strategies begin by seeing the product through the
eyes of _________ - correct-answer-Brand Champions/Love Group
Product Market Expansion Matrix - correct-answer-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
, 3|Page
Customer Lifetime Value (CLV) - correct-answer-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-answer-by meeting
customers functional and emotional needs
Target Market - correct-answer-a set of buyers sharing common needs or
characteristics that the company decides to serve
Marketing Mix - correct-answer-Product, Price, Place, Promotion
What are the four profitability drivers? - correct-answer-Customer Acquisition,
Customer Retention, Sales per Customer, margin
