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WGU D077 Study Guide Questions and Answers with Complete Solutions
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WGU D077 Study Guide Questions and Answers with Complete Solutions
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WGU D077 Study Guide Questions and Answers with Complete SolutionsIntegrated Marketing Communications - Correct Answer-
coordinating the promotion mix elements and synchronizing promotion as a unified effort
Marketing - Correct Answer-The Activity, set of institutions, and process for creating, communicating, delivering and exchanging offerings that have value for consumers. Also a 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.
Marketing Mix (4 P's) - Correct Answer-Product, Place, Price, Promotion
Product Life Cycle - Correct Answer-describes the stages a new
product goes through in the marketplace: introduction, growth, maturity, and decline The Introduction stage of the product life cycle is characterized by - Correct Answer-Low sales, Little or no profit, and Often little to no competition
The growth stage of the product life cycle is characterized by - Correct Answer-Increasing sales, Rapidly increasing profits, Market has accepted the product and competitors begin to enter the market
The maturity stage of the product life cycle is characterized by - Correct Answer-High Sales, High then declining profits, High level of competition, may be difficult for original company to compete
The decline stage of the product life cycle is characterized by - Correct Answer-Declining Sales, Declining Profit, and Competitive pressure remains high and demand falls
product mix - Correct Answer-The complete range of products offered for sale by a company throughout its product lines, also known as the product assortment product lines - Correct Answer-Series of similar products focused on a sector that a company creates under a single brand
product depth - Correct Answer-Number of versions offered for each product in the product line
product width - Correct Answer-The number of different product lines, or series of products a company offers
price skimming - Correct Answer-Intentionally pricing a new product offering high with the intention of lowering it over time as competition grows, particularly in the case of a unique
offering with little or no competition at the outset (Pricing Strategy)
penetration pricing - Correct Answer-Intentionally pricing a product lower than the market price to gain market share in a new market (Pricing Strategy)
leader pricing - Correct Answer-Pricing products below market
price to attract customers to a store where they would not otherwise shop (Pricing Strategy) prestige pricing - Correct Answer-Raising the price of a product to increase the perception of its value (Pricing Strategy)
Bundling - Correct Answer-Grouping related products together
and pricing them as a single product. (Pricing Strategy)
Competitive pricing - Correct Answer-Setting the price for a product or service relative to competitors (Pricing Strategy)
Advertising - Correct Answer-Any paid form of nonpersonal promotion by an identified sponsor
Personal selling - Correct Answer-A face-to-face presentation to a prospective buyer, often based on long-term relationships.
Sales promotion - Correct Answer-Marketing activities that stimulate consumer buying, including coupons and samples, displays, shows and exhibitions, and demonstrations.
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