BYU MARKETING 201 EXAM 1 | QUESTIONS AND ANSWERS |
2026 UPDATE | WITH COMPLETE SOLUTION.
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 Answer - BCG Growth-Share
Matrix
Asks the question - What businesses should we be in? Answer - Corporate
Strategy
Asks - How do we compete effectively against the competitors? Answer -
Strategic Business Unit Strategy
strategy by which managers in specific areas decide how best to achieve
corporate goals through productivity Answer - Functional Strategy
Marketing Environment--> Marketing Mix-->Capture value-->Profits Answer -
Path to Profitability
Brand Champions/Love Group Answer - The most powerful marketing
strategies begin by seeing the product through the eyes of _________
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 Answer - Product Market
Expansion Matrix
approximate worth of a customer to a company in economic terms; overall
profitability of an individual consumer Answer - Customer Lifetime Value (CLV)
by meeting customers functional and emotional needs Answer - How does
marketing create value for the customer?
a set of buyers sharing common needs or characteristics that the company
decides to serve Answer - Target Market
Product, Price, Place, Promotion Answer - Marketing Mix
Customer Acquisition, Customer Retention, Sales per Customer, margin
Answer - What are the four profitability drivers?
finding new, profitable ways to acquire customers that are higher-value
Answer - What is Customer Acquisition
To eliminate the root causes of customer defections, develop loyalty initiatives
and acquire more loyal customers Answer - What is Customer Retention?
How much the customer purchases of your product. As a profitability driver it
serves to increase their purchase of the product Answer - What are sales per
customer?
2026 UPDATE | WITH COMPLETE SOLUTION.
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 Answer - BCG Growth-Share
Matrix
Asks the question - What businesses should we be in? Answer - Corporate
Strategy
Asks - How do we compete effectively against the competitors? Answer -
Strategic Business Unit Strategy
strategy by which managers in specific areas decide how best to achieve
corporate goals through productivity Answer - Functional Strategy
Marketing Environment--> Marketing Mix-->Capture value-->Profits Answer -
Path to Profitability
Brand Champions/Love Group Answer - The most powerful marketing
strategies begin by seeing the product through the eyes of _________
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 Answer - Product Market
Expansion Matrix
approximate worth of a customer to a company in economic terms; overall
profitability of an individual consumer Answer - Customer Lifetime Value (CLV)
by meeting customers functional and emotional needs Answer - How does
marketing create value for the customer?
a set of buyers sharing common needs or characteristics that the company
decides to serve Answer - Target Market
Product, Price, Place, Promotion Answer - Marketing Mix
Customer Acquisition, Customer Retention, Sales per Customer, margin
Answer - What are the four profitability drivers?
finding new, profitable ways to acquire customers that are higher-value
Answer - What is Customer Acquisition
To eliminate the root causes of customer defections, develop loyalty initiatives
and acquire more loyal customers Answer - What is Customer Retention?
How much the customer purchases of your product. As a profitability driver it
serves to increase their purchase of the product Answer - What are sales per
customer?
