Exam (elaborations)
WGU D099 Sales Management(2023)Solved 100% Correct!!
- Course
- Institution
WGU D099 Sales Management(2023)Solved 100% Correct!!
[Show more]
Content preview
WGU D099 Sales Management (2023)Solved 100% Correct!!Marketing - Answer Business function that identifies, satisfies, and retains customers
through a set of activities related to creating, communicating, delivering, and exchanging offerings that have value for the customer.
Relationship selling - Answer sales technique that focuses on the interaction between the buyer and the salesperson rather than the price or details of the product
Value creation - Answer the performance of actions that increase the worth of products, services, or even a business
Sales Process - Answer A systematic approach involving a series of steps that enables a sales force to close more deals, increase margins and make more sales through referrals.
Customer loyalty - Answer Having a positive attitude toward a product or brand, which induces supportive behavior from a customer
Brand trust - Answer The willingness of the average consumer to rely on the ability of
the brand to perform its stated function
Personal selling - Answer A type of selling that uses person-to-person interaction to sell products and services
Conversion rates - Answer The percentage of prospective customers who take a specific action you want
Sales forecast - Answer process of estimating future sales
Profitability - Answer The ability of a company to use its resources to generate revenues in excess of its expenses
Product-market fit - Answer the degree to which a product or service satisfies the demands of the market
Corporate structure - Answer An organization's different departments or business units within a company to achieve its overall mission and goals
Functional structure - Answer An organization structure that groups employees by their similar specialties, roles, or tasks
Modular structure - Answer Divides the business into small, tightly knit strategic business units (SBUs), which focus on specific elements of the organizational process.
Strategic Business Units (SBU) - Answer A profit center that focuses on product offering and marketing segment WGU D099 Sales Management (2023)Solved 100% Correct!!
Value chain - Answer the process or activities by which a company adds value to an article, including production, marketing, and the provision of after-sales service.
Competetors - Answer Firms that provide similar products or services and try to attract the same customers
Competitive advantage - Answer A condition or circumstance that puts a company in
a favorable or superior business position
Sustainable competitive advantage - Answer Company assets, attributes, or abilities that are difficult to duplicate or exceed and provide a superior or favorable long-term position over competitors
Loyalty card - Answer A card issued by a store to a customer and used to record credit points awarded for money spent in the store. Can also be a credit card tied to a brand, which then tracks what and where clients purchase
Algorithm - Answer a process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer.
Customer Relationship Management (CRM) - Answer Processes implemented by a company to handle its contact with customers with the goal of creating a unified customer experience to maximize retention
Business Intelligence (BI) - Answer The use of data in an enterprise to facilitate decision-making. It encompasses understanding the actual operation of the company, as well as the anticipation of future events, with the aim of providing knowledge to support business decisions
Big data analytics - Answer Large, complex data sets that require non-traditional data processing software to predict trends and forecasts
Business-to-business (B2B) - Answer Sales to another company that consumes the product as part of operating the business or uses the product in the assembly of the final product it sells to consumers
Ethics - Answer A set of moral standards for judging whether something is right or wrong
Organizational ethics - Answer the principals and standards by which businesses operate, according to Reference for Business. They are best demonstrated through acts of fairness, compassion, integrity, honor and responsibility.
Code of ethics - Answer A document that outlines the mission and values of the business or organization, how professionals are supposed to approach problems, WGU D099 Sales Management (2023)Solved 100% Correct!!
the ethical principles based on the organization's core values, and the standards to which the professional is held
Uniform Commercial Code (UCC) - Answer A comprehensive set of laws governing all commercial transactions in the United States
American Marketing Association Code of Conduct/Ethics (AMA) - Answer Ethical norms and values for AMA members (practitioners, academics, students)
Marketing concept - Answer identifying consumer needs and then producing the goods or services that will satisfy them while making a profit for the organization
"right" principle - Answer getting the right goods or services to the right people at the right place, time and price, using the right promotion techniques
Exchanges - Answer The process in which two parties give something of value to each other in order to satisfy their respective needs
Output - Answer The act of producing something, the amount of something produced, or the process in which something is delivered
Inputs - Answer The resources invested in accomplishing a task, and typically include time, money, and effort
Inbound marketing - Answer A marketing methodology designed to draw visitors and
potential customers in, rather than outwardly pushing a brand, product or service onto prospects in the hope of lead generation or customers
Promotion - Answer The attempt by marketers to inform, persuade, or remind consumers and industrial users to engage in the exchange process
Promotional mix - Answer The combination of advertising, personal selling, sales promotion, and public relations used to promote a product
Marketers - Answer A person or company that advertises or promotes something
Integrated Marketing Communications (IMC) - Answer The careful coordination of al promotional activities - media advertising, sales promotion, personal selling, and public relations, as well as direct marketing, packaging, and other forms of promotion
- to produce a consistent, unified message that is customer-focused
Customer (buyer) journey - Answer A framework that acknowledges a buyer's progression through a research and decision process ultimately culminating in a purchase
AIDA - Answer Attention, Interest, Desire, Action
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EvaTee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now