MKTG 201 BYU SWENSON FINAL

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MKTG 201 BYU SWENSON FINAL

UPDATED ACTUAL EXAM WITH CORRECT

SOLUTIONS.

BCG Growth Model - correct answer- Stars, Cash cows, question marks, dogs

Path to Profitability - correct answer- Marketing Environment, Marketing mix, capture value, profits

Brand Champions/Love Group - correct answer- The group that supports your company and the products in it

Product Market Expansion Matrix - correct answer- Market Penetration, Product Development, Market Development, Diversification

Market Penetration - correct answer- existing products, existing markets

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Product Development - correct answer- existing market, new product

Market Development - correct answer- New Market, existing product

Diversification - correct answer- new product, new market

Consumer lifetime value - correct answer- approximate worth of a customer to a company in economic terms; overall profitability of an individual consumer

How marketing creates value - correct answer- meeting customers emotional and functional needs

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

Marketing Mix - correct answer- Product, Price, Place, Promotion 2 / 3

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Marketing Strategy - correct answer- a company's plan that identifies how it will use marketing to achieve its goals

SWOT - correct answer- strengths, weaknesses, opportunities, threats

External Environment - correct answer- All relevant forces outside a firm's boundaries, such as competitors, customers, the government, and the economy.

Porter's five forces - correct answer- Threat of entrants, power of suppliers, threat of substitutes, power of buyers, competitive rivalry

Domestic Marketing - correct answer- all marketing strategies focus on the market in the country of origin

International Marketing - correct answer- developing and performing marketing activities across national boundaries

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