BYU MARKETING 201 EXAM 1 2025 UPDATED ACTUAL EXAM WITH CORRECT SOLUTIONS.

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BYU MARKETING 201 EXAM 1 2025 UPDATED
ACTUAL EXAM WITH CORRECT SOLUTIONS.



BCG Growth-Share Matrix - correct 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 - correct answer- Asks the question - What
businesses should we be in?




Strategic Business Unit Strategy - correct answer- Asks - How
do we compete effectively against the competitors?




Functional Strategy - correct answer- strategy by which
managers in specific areas decide how best to achieve
corporate goals through productivity




Path to Profitability - correct answer- Marketing Environment-->
Marketing Mix-->Capture value-->Profits

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The most powerful marketing strategies begin by seeing the
product through the eyes of _________ - correct answer- Brand
Champions/Love Group




Product Market Expansion Matrix - correct 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) - correct 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? - correct
answer- by meeting customers functional and emotional needs




Target Market - correct answer- a set of buyers sharing
common needs or characteristics that the company decides to
serve