BYU MARKETING 201 EXAM 1
QUESTIONS AND ANSWERS 100% PASS
2026/2027
BCG Growth-Share Matrix - ANS 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 - ANS Asks the question - What businesses should we be in?
Strategic Business Unit Strategy - ANS Asks - How do we compete effectively against the
competitors?
Functional Strategy - ANS strategy by which managers in specific areas decide how best to
achieve corporate goals through productivity
Path to Profitability - ANS Marketing Environment--> Marketing Mix-->Capture value-->Profits
The most powerful marketing strategies begin by seeing the product through the eyes of
_________ - ANS Brand Champions/Love Group
@2026 ALLRIGHTS RESERVED 1
, Product Market Expansion Matrix - ANS 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) - ANS 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? - ANS by meeting customers functional
and emotional needs
Target Market - ANS a set of buyers sharing common needs or characteristics that the
company decides to serve
Marketing Mix - ANS Product, Price, Place, Promotion
What are the four profitability drivers? - ANS Customer Acquisition, Customer Retention,
Sales per Customer, margin
What is Customer Acquisition - ANS finding new, profitable ways to acquire customers that
are higher-value
What is Customer Retention? - ANS To eliminate the root causes of customer defections,
develop loyalty initiatives and acquire more loyal customers
@2026 ALLRIGHTS RESERVED 2
QUESTIONS AND ANSWERS 100% PASS
2026/2027
BCG Growth-Share Matrix - ANS 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 - ANS Asks the question - What businesses should we be in?
Strategic Business Unit Strategy - ANS Asks - How do we compete effectively against the
competitors?
Functional Strategy - ANS strategy by which managers in specific areas decide how best to
achieve corporate goals through productivity
Path to Profitability - ANS Marketing Environment--> Marketing Mix-->Capture value-->Profits
The most powerful marketing strategies begin by seeing the product through the eyes of
_________ - ANS Brand Champions/Love Group
@2026 ALLRIGHTS RESERVED 1
, Product Market Expansion Matrix - ANS 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) - ANS 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? - ANS by meeting customers functional
and emotional needs
Target Market - ANS a set of buyers sharing common needs or characteristics that the
company decides to serve
Marketing Mix - ANS Product, Price, Place, Promotion
What are the four profitability drivers? - ANS Customer Acquisition, Customer Retention,
Sales per Customer, margin
What is Customer Acquisition - ANS finding new, profitable ways to acquire customers that
are higher-value
What is Customer Retention? - ANS To eliminate the root causes of customer defections,
develop loyalty initiatives and acquire more loyal customers
@2026 ALLRIGHTS RESERVED 2
