Marketing 201 (Swenson @ BYU) - FINAL
EXAM questions and answers 2025
Chapter 1 - ANSWER Marketing Strategy
What is marketing? - ANSWER The exchange that creates and delivers value for customers at a
profit
Star (BCG Matrix) - ANSWER High growth and high market share
Cash Cows (BCG Matrix) - ANSWER High market share but low growth
Question Mark (BCG Matrix) - ANSWER Low market share but high growth
Dog (BCG Matrix) - ANSWER Low market share and low growth
Market Penetration - ANSWER Selling more of the existing products in existing markets
Product Development - ANSWER Introducing new products to existing markets
Market Development - ANSWER Introducing existing products to new markets
Diversification - ANSWER Introducing new products to new markets
Product Orientation - ANSWER A belief that supply generates demand. The sole focus is on the
product
,Sales Orientation - ANSWER A belief that marketing's purpose is to sell products. Uses
aggressive sales techniques
Market Orientation - ANSWER The belief that products should focus on satisfying customer
needs at a profit
Societal Orientation - ANSWER The belief that products should provide value to both the
customer as well as to society as a whole. Concerned about the enviroment
Path to Profitability - ANSWER
Marketing Mix - ANSWER Product, Price, Place, Promotion
Chapter 2 - ANSWER The Marketing Environment
External Enviroment - ANSWER Social forces, Economic forces, Technological forces, Competitive
forces, Regulatory forces
Social Forces - ANSWER Culture and demographics
Baby Boomers - ANSWER age 54 - 72
Gen X - ANSWER age 38 - 53
Millennials (Gen Y) - ANSWER age 22 - 37
Gen Z - ANSWER age 16 - 21
, Economic Forces - ANSWER Gross, disposable, and discretionary income
Technological Forces - ANSWER New science and research
Competitive Forces - ANSWER Attractiveness of the industry
Competitive Rivalry - ANSWER Reactions taken by competitors
Power of Suppliers - ANSWER Powerful suppliers can drive down profits by charging high prices
and/or reducing product quality
Power of Buyers - ANSWER Customers can demand lower prices or increased quality
Threat of Entrants - ANSWER New entrants can shake up an industry and cause increased
competition as they seek to take market share from existing companies
Threat of Substitues - ANSWER Substitute products can replace existing products by performing
a similar function
Regulatory Forces - ANSWER Changes in laws and trade regulations
Strengthes (SWOT) - ANSWER Essential competencies of the firm [internal]
Opportunities (SWOT) - ANSWER Favorable market conditions [external]
Weaknesses (SWOT) - ANSWER Firm specific limitations [internal]
EXAM questions and answers 2025
Chapter 1 - ANSWER Marketing Strategy
What is marketing? - ANSWER The exchange that creates and delivers value for customers at a
profit
Star (BCG Matrix) - ANSWER High growth and high market share
Cash Cows (BCG Matrix) - ANSWER High market share but low growth
Question Mark (BCG Matrix) - ANSWER Low market share but high growth
Dog (BCG Matrix) - ANSWER Low market share and low growth
Market Penetration - ANSWER Selling more of the existing products in existing markets
Product Development - ANSWER Introducing new products to existing markets
Market Development - ANSWER Introducing existing products to new markets
Diversification - ANSWER Introducing new products to new markets
Product Orientation - ANSWER A belief that supply generates demand. The sole focus is on the
product
,Sales Orientation - ANSWER A belief that marketing's purpose is to sell products. Uses
aggressive sales techniques
Market Orientation - ANSWER The belief that products should focus on satisfying customer
needs at a profit
Societal Orientation - ANSWER The belief that products should provide value to both the
customer as well as to society as a whole. Concerned about the enviroment
Path to Profitability - ANSWER
Marketing Mix - ANSWER Product, Price, Place, Promotion
Chapter 2 - ANSWER The Marketing Environment
External Enviroment - ANSWER Social forces, Economic forces, Technological forces, Competitive
forces, Regulatory forces
Social Forces - ANSWER Culture and demographics
Baby Boomers - ANSWER age 54 - 72
Gen X - ANSWER age 38 - 53
Millennials (Gen Y) - ANSWER age 22 - 37
Gen Z - ANSWER age 16 - 21
, Economic Forces - ANSWER Gross, disposable, and discretionary income
Technological Forces - ANSWER New science and research
Competitive Forces - ANSWER Attractiveness of the industry
Competitive Rivalry - ANSWER Reactions taken by competitors
Power of Suppliers - ANSWER Powerful suppliers can drive down profits by charging high prices
and/or reducing product quality
Power of Buyers - ANSWER Customers can demand lower prices or increased quality
Threat of Entrants - ANSWER New entrants can shake up an industry and cause increased
competition as they seek to take market share from existing companies
Threat of Substitues - ANSWER Substitute products can replace existing products by performing
a similar function
Regulatory Forces - ANSWER Changes in laws and trade regulations
Strengthes (SWOT) - ANSWER Essential competencies of the firm [internal]
Opportunities (SWOT) - ANSWER Favorable market conditions [external]
Weaknesses (SWOT) - ANSWER Firm specific limitations [internal]
