MKTG 201 BYU Swenson Final (with Complete Solutions)
Question : What is marketing?
Correct answer: The exchange that creates and delivers value
for customers at a profit
Question : Star (BCG Matrix)
Correct answer: High growth and high market share
Question : Cash Cows (BCG Matrix)
Correct answer: High market share but low growth
Question : Question Mark (BCG Matrix)
Correct answer: Low market share but high growth
Question : Dog (BCG Matrix)
Correct answer: Low market share and low growth
Question : Market Penetration
Correct answer: Selling more of the existing products in
existing markets
Question : Product Development
Correct answer: Introducing new products to existing markets
Question : Market Development
Correct answer: Introducing existing products to new markets
Question : Diversification
Correct answer: Introducing new products to new markets
Question : Product Orientation
Correct answer: A belief that supply generates demand. The
sole focus is on the product
Question : Sales Orientation
Correct answer: A belief that marketing's purpose is to sell
products. Uses aggressive sales techniques
Question : Market Orientation
Correct answer: The belief that products should focus on
satisfying customer needs at a profit
Question : Societal Orientation
Correct answer: The belief that products should provide value
to both the customer as well as to society as a whole.Concerned about the enviroment
Question : Marketing Mix
Correct answer: Product, Price, Place, Promotion
Question : External Enviroment
Correct answer: Social forces, Economic forces,
Technological forces, Competitive forces, Regulatory forces
