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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complete solutions \|
BCG Portfolio Model - CORRECT ANSWERS ✔✔
\| \| \| \| \| \|
Product-Market Expansion Matrix - CORRECT ANSWERS ✔✔
\| \| \| \| \| \|
Marketing Philosophies - CORRECT ANSWERS ✔✔Product
\| \| \| \| \| \|
Orientation,
Sales Orientation,
\|
Market Orientation,
\|
Societal Orientation\|
,Product Orientation - CORRECT ANSWERS ✔✔All about the
\| \| \| \| \| \| \| \|
product. Does not consider competitors or the needs of the
\| \| \| \| \| \| \| \| \| \|
market.
Sales Orientation - CORRECT ANSWERS ✔✔Aggressive sales
\| \| \| \| \| \| \|
techniques, may fail to understand customer needs\| \| \| \| \| \|
Market Orientation - CORRECT ANSWERS ✔✔Understand
\| \| \| \| \| \|
customer needs, company capabilities, knows competitors, and
\| \| \| \| \| \| \|
wants to make a profit.
\| \| \| \|
Societal Orientation - CORRECT ANSWERS ✔✔Concerned about
\| \| \| \| \| \| \|
the environment, consider society's long-term best interest
\| \| \| \| \| \|
Competitive Rivalry - CORRECT ANSWERS ✔✔Rivalry among \| \| \| \| \| \| \|
existing companies in a particular industry varies in intensity
\| \| \| \| \| \| \| \| \|
based on the type and number of competitors and on the basis
\| \| \| \| \| \| \| \| \| \| \| \|
of competition—price discounting, advertising, new product
\| \| \| \| \| \|
offerings, and service quality. High competitive rivalry drives
\| \| \| \| \| \| \| \|
down industry profits. Delta vs. United
\| \| \| \| \|
Power of Suppliers - CORRECT ANSWERS ✔✔Powerful suppliers
\| \| \| \| \| \| \| \|
can drive down industry profits by charging higher prices and/or
\| \| \| \| \| \| \| \| \| \|
reducing product and service quality. Oil Industry or Boeing
\| \| \| \| \| \| \| \|
Power of Buyers - CORRECT ANSWERS ✔✔Powerful buyers
\| \| \| \| \| \| \| \|
(customers) can use their clout to demand and receive lower
\| \| \| \| \| \| \| \| \| \|
prices, increased product quality, and more services. Gold
\| \| \| \| \| \| \| \|
Medallions get upgraded \| \|
,Threat of Entrants - CORRECT ANSWERS ✔✔New entrants can
\| \| \| \| \| \| \| \| \|
shake up an industry and cause increased competition as they
\| \| \| \| \| \| \| \| \| \|
seek to take market share from existing companies in the
\| \| \| \| \| \| \| \| \| \|
industry. New Airline \| \|
Porter's Five Forces Model - CORRECT ANSWERS ✔✔Threat of new
\| \| \| \| \| \| \| \| \|
entrants
\|
Threat of substitutes
\| \|
Bargaining power of buyers \| \| \|
Bargaining power of suppliers \| \| \|
Current rivalry \|
Global Market Entry Strategies - CORRECT ANSWERS
\| \| \| \| \| \| \|
✔✔Exporting
Licensing
Joint venture
\|
Direct investment
\|
Exporting - CORRECT ANSWERS ✔✔Goods produced in the home
\| \| \| \| \| \| \| \| \|
country are exported to a foreign market
\| \| \| \| \| \|
Licensing - CORRECT ANSWERS ✔✔Selling the right to another
\| \| \| \| \| \| \| \| \|
company to use some process, trademark, patent, or other skill
\| \| \| \| \| \| \| \| \|
, Joint Venture - CORRECT ANSWERS ✔✔A company joins with a
\| \| \| \| \| \| \| \| \| \|
foreign market to create a local business in which the company
\| \| \| \| \| \| \| \| \| \| \|
shares joint ownership and control.
\| \| \| \|
Direct Investment - CORRECT ANSWERS ✔✔Build up wholly
\| \| \| \| \| \| \| \|
owned operations in other countries
\| \| \| \|
The Fraud Triangle - CORRECT ANSWERS ✔✔Opportunity:
\| \| \| \| \| \| \|
Condition that allows the fraudulent behavior to occur Pressure:
\| \| \| \| \| \| \| \| \|
The weight of the burden felt by the person who commits fraud
\| \| \| \| \| \| \| \| \| \| \| \|
Rationalization: The process of reconciling or justifying \| \| \| \| \| \| \|
fraudulent behavior \|
Analysis of Variance - CORRECT ANSWERS ✔✔Analyze
\| \| \| \| \| \| \|
differences among group means \| \| \|
Purpose: testing for differences in group averages
\| \| \| \| \| \|
Usage: evaluate effectiveness of marketing policies
\| \| \| \| \|
Outcome: evidence to inform marketing decisions
\| \| \| \| \|
Regression Analysis - CORRECT ANSWERS ✔✔Relationship
\| \| \| \| \| \|
between a dependent variable and one or more independent or
\| \| \| \| \| \| \| \| \| \|
predictor variables \|
Purpose: testing for effects of certain variables on an outcome
\| \| \| \| \| \| \| \| \|
Usage: evaluate advertising, product, and pricing policies
\| \| \| \| \| \|
Outcome: evidence to inform marketing decisions
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