SERIES BYU MARKETING 201 EXAM 1 COMPLETE QUESTIONS AND CORRECT ANSWERS | GRADED AND THE LATEST SERIES

2025-2026 SERIES
BYU MARKETING 201 EXAM 1 COMPLETE
QUESTIONS AND CORRECT ANSWERS | GRADED
AND THE LATEST SERIES
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


Question: Corporate Strategy


Ans: Asks the question - What businesses should we be in?


Question: Strategic Business Unit Strategy


Ans: Asks - How do we compete effectively against the competitors?


Question: Functional Strategy


Ans: strategy by which managers in specific areas decide how best to achieve
corporate goals through productivity


Question: Path to Profitability


Ans: Marketing Environment--> Marketing Mix-->Capture value-->Profits


Question: The most powerful marketing strategies begin by seeing the product

through the eyes of _________

, 2025-2026 SERIES
Ans: Brand Champions/Love Group


Question: 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


Question: Customer Lifetime Value (CLV)


Ans: approximate worth of a customer to a company in economic terms; overall
profitability of an individual consumer


Question: How does marketing create value for the customer?


Ans: by meeting customers functional and emotional needs


Question: Target Market


Ans: a set of buyers sharing common needs or characteristics that the company
decides to serve


Question: Marketing Mix


Ans: Product, Price, Place, Promotion


Question: What are the four profitability drivers?


Ans: Customer Acquisition, Customer Retention, Sales per Customer, margin