BYU MARKETING 201 EXAM 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | WITH
COMPLETE SOLUTION.
BCG Growth-Share Matrix - (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 - (ANSWER)Asks the question - What businesses should we be in?
Strategic Business Unit Strategy - (ANSWER)Asks - How do we compete effectively against the
competitors?
Functional Strategy - (ANSWER)strategy by which managers in specific areas decide how best to achieve
corporate goals through productivity
Path to Profitability - (ANSWER)Marketing Environment--> Marketing Mix-->Capture value-->Profits
The most powerful marketing strategies begin by seeing the product through the eyes of _________ -
(ANSWER)Brand Champions/Love Group
Product Market Expansion Matrix - (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
Customer Lifetime Value (CLV) - (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? - (ANSWER)by meeting customers functional and
emotional needs
, BYU MARKETING 201 EXAM 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | WITH
COMPLETE SOLUTION.
Target Market - (ANSWER)a set of buyers sharing common needs or characteristics that the company
decides to serve
Marketing Mix - (ANSWER)Product, Price, Place, Promotion
What are the four profitability drivers? - (ANSWER)Customer Acquisition, Customer Retention, Sales per
Customer, margin
What is Customer Acquisition - (ANSWER)finding new, profitable ways to acquire customers that are
higher-value
What is Customer Retention? - (ANSWER)To eliminate the root causes of customer defections, develop
loyalty initiatives and acquire more loyal customers
What are sales per customer? - (ANSWER)How much the customer purchases of your product. As a
profitability driver it serves to increase their purchase of the product
What are margins? - (ANSWER)They help to cut down unneeded costs and drive profitability in the firm
Ways that the firm can drive profit - (ANSWER)Reward customers, Fire customers, Identify cross-selling
and up-selling opportunities
Marketing Philosophies - (ANSWER)Product Orientation
Sales Orientation
Market Orientation
Societal Orientation
Product Orientation - (ANSWER)All about the product - Ex. Apple
COMPLETE SOLUTION.
BCG Growth-Share Matrix - (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 - (ANSWER)Asks the question - What businesses should we be in?
Strategic Business Unit Strategy - (ANSWER)Asks - How do we compete effectively against the
competitors?
Functional Strategy - (ANSWER)strategy by which managers in specific areas decide how best to achieve
corporate goals through productivity
Path to Profitability - (ANSWER)Marketing Environment--> Marketing Mix-->Capture value-->Profits
The most powerful marketing strategies begin by seeing the product through the eyes of _________ -
(ANSWER)Brand Champions/Love Group
Product Market Expansion Matrix - (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
Customer Lifetime Value (CLV) - (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? - (ANSWER)by meeting customers functional and
emotional needs
, BYU MARKETING 201 EXAM 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | WITH
COMPLETE SOLUTION.
Target Market - (ANSWER)a set of buyers sharing common needs or characteristics that the company
decides to serve
Marketing Mix - (ANSWER)Product, Price, Place, Promotion
What are the four profitability drivers? - (ANSWER)Customer Acquisition, Customer Retention, Sales per
Customer, margin
What is Customer Acquisition - (ANSWER)finding new, profitable ways to acquire customers that are
higher-value
What is Customer Retention? - (ANSWER)To eliminate the root causes of customer defections, develop
loyalty initiatives and acquire more loyal customers
What are sales per customer? - (ANSWER)How much the customer purchases of your product. As a
profitability driver it serves to increase their purchase of the product
What are margins? - (ANSWER)They help to cut down unneeded costs and drive profitability in the firm
Ways that the firm can drive profit - (ANSWER)Reward customers, Fire customers, Identify cross-selling
and up-selling opportunities
Marketing Philosophies - (ANSWER)Product Orientation
Sales Orientation
Market Orientation
Societal Orientation
Product Orientation - (ANSWER)All about the product - Ex. Apple
