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Marketing 201 (Swenson @ BYU) - FINAL EXAM – 208 Q/A
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Marketing 201 (Swenson @ BYU) - FINAL EXAM – 208 Q/A
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Marketing 201 (Swenson @ BYU) - FINALEXAM – 208 Q/A
Chapter 1 - -Marketing Strategy
-What is marketing? - -The exchange that creates and delivers value for
customers at a profit
-Star (BCG Matrix) - -High growth and high market share
-Cash Cows (BCG Matrix) - -High market share but low growth
-Question Mark (BCG Matrix) - -Low market share but high growth
-Dog (BCG Matrix) - -Low market share and low growth
-Market Penetration - -Selling more of the existing products in existing
markets
-Product Development - -Introducing new products to existing markets
-Market Development - -Introducing existing products to new markets
-Diversification - -Introducing new products to new markets
-Product Orientation - -A belief that supply generates demand. The sole
focus is on the product
-Sales Orientation - -A belief that marketing's purpose is to sell products.
Uses aggressive sales techniques
-Market Orientation - -The belief that products should focus on satisfying
customer needs at a profit
-Societal Orientation - -The belief that products should provide value to both
the customer as well as to society as a whole. Concerned about the
enviroment
-Path to Profitability - -
-Marketing Mix - -Product, Price, Place, Promotion
-Chapter 2 - -The Marketing Environment
, -External Enviroment - -Social forces, Economic forces, Technological
forces, Competitive forces, Regulatory forces
-Social Forces - -Culture and demographics
-Baby Boomers - -age 54 - 72
-Gen X - -age 38 - 53
-Millennials (Gen Y) - -age 22 - 37
-Gen Z - -age 16 - 21
-Economic Forces - -Gross, disposable, and discretionary income
-Technological Forces - -New science and research
-Competitive Forces - -Attractiveness of the industry
-Competitive Rivalry - -Reactions taken by competitors
-Power of Suppliers - -Powerful suppliers can drive down profits by charging
high prices and/or reducing product quality
-Power of Buyers - -Customers can demand lower prices or increased
quality
-Threat of Entrants - -New entrants can shake up an industry and cause
increased competition as they seek to take market share from existing
companies
-Threat of Substitues - -Substitute products can replace existing products by
performing a similar function
-Regulatory Forces - -Changes in laws and trade regulations
-Strengthes (SWOT) - -Essential competencies of the firm [internal]
-Opportunities (SWOT) - -Favorable market conditions [external]
-Weaknesses (SWOT) - -Firm specific limitations [internal]
-Threats (SWOT) - -Conditions that hinder profitability [external]
-Chapter 3 - -Global Marketing
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