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BYU Marketing 201 Exam 1 Questions with Correct Answers
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BYU Marketing 201 Exam 1 Questions with Correct Answers
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BYU Marketing 201 Exam 1 Questions with CorrectAnswers
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
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
Marketing Mix Correct Answer-Product, Price, Place, Promotion
What are the four profitability drivers? Correct Answer-Customer
Acquisition, Customer Retention, Sales per Customer, margin
What is Customer Acquisition Correct Answer-finding new, profitable
ways to acquire customers that are higher-value
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