WGU D077 Concepts in Marketing,
Sales, and Customer Contact
A/B testing - correct answer A marketing experiment where two variants of a
campaign are tested to see which one is most effective
Accommodation - correct answer Style of handling conflict focused on empathy
over self-interest
Adaptive selling - correct answer Using social styles to customize a sales
approach to the specific customer
administered vertical marketing system - correct answer Cooperation between
levels of a distribution channel where one member sets the terms due to its size
and influence
advertising - correct answer Paid form of nonpersonal promotion
amiable - correct answer People with this social style want to know "why"
analytical - correct answer People with this social style want to know "how"
artificial intelligence - correct answer Intelligent machines (computers) capable
of learning and interacting
attitudes - correct answer Positive, negative, or ambivalent evaluation of people,
objects, event, activities, ideas, or anything else in the environment
attributes - correct answer Characteristics that define a product and will
influence the customer's purchase decision
Avoidance - correct answer Style of handling conflict with little empathy or self-
interest
B2B sales - correct answer Sales to another company that consumes the product
or services as part of operating the business or uses the product in the assembly
of the final product it sells to consumers
Bait and switch - correct answer Fraudulent practice where an advertised
product is unavailable so a customer is guided to a more expensive one
Bargaining power of buyers - correct answer One of Porter's Five Forces—the
power of customers to drive down prices if supply exceeds demand
,WGU D077 Concepts in Marketing,
Sales, and Customer Contact
Bargaining power of suppliers - correct answer One of Porter's Five Forces—the
power of suppliers when there are few alternative sources for the products'
components
Bargaining - correct answer The fourth phase in the negotiation process, where
the parties seek an agreement
BCG Matrix - correct answer Planning tool which uses a quadrant to map the
strategic position of a business brand based on the brand's market share and the
market's growth potential
behavioral observation - correct answer Primary marketing research technique
involving formal or informal observation of customers and noncustomers
boycott - correct answer Voluntary and intentional refusal to buy products from
a certain person, company, or country for ethical or political reasons
brand equity - correct answer One of the drivers of customer equity, based on
how the customer assesses the value of the brand
brand loyalty - correct answer The faithfulness of customer's to a particular
company and its products
brand - correct answer The unique identity and associations of a company, often
captured in a design, sign, symbol, or words that identify a product and
differentiate it from competitors
Bundling - correct answer Grouping related products together and pricing them
as a single product.
business cycle - correct answer Expansions and contractions in the level of
economic activities (business fluctuations) around a long-term growth trend
business to business (B2B) - correct answer Sales to another company that
consumes the product or services as part of operating the business or uses the
product in the assembly of the final product it sells to consumers
business to consumer (B2C) - correct answer Sales directly to the individuals who
consume a finished product
,WGU D077 Concepts in Marketing,
Sales, and Customer Contact
business-to-business (B2B) - correct answer Sales to another company that
consumes the product or services as part of operating the business or uses the
product in the assembly of the final product it sells to consumers
business-to-consumer (B2C) - correct answer Sales directly to the individuals who
consume a finished product for personal use
Buyers - correct answer Individuals at an organization who are responsible for
the purchase contract, often a purchasing department
buying center - correct answer Group of decision makers for a purchase by an
organization
Channel conflict - correct answer When a company sells products directly to
consumers, in competition with the company's own channel partners
Closed-ended questions - correct answer Questions where a researcher provides
a set of options from which to choose a response, also called structured questions
Closure - correct answer The final phase of negotiation, where an agreement is
reached or the negotiation fails
cognitive dissonance - correct answer Mental discomfort triggered by holding
two or more contradictory beliefs, ideas, or values
Collaboration - correct answer Style of handling conflict with high concern for
both empathy and self-interest
Competition - correct answer Style of handling conflict focused on self-interest
over empathy
Competitive pricing strategy - correct answer Setting the price for a product or
service relative to competitors
Compromise - correct answer Middle-ground style of handling conflict
Concentrated marketing - correct answer Targeting strategy that focuses on a
very limited, specific segment(s) of the market, also called niche marketing
, WGU D077 Concepts in Marketing,
Sales, and Customer Contact
consultative selling - correct answer Sales approach where the seller becomes a
trusted advisor to the customer and builds a relationship to truly understand her
needs
consumer behavior - correct answer The study of individuals, groups, or
organizations and all the activities associated with the purchase, use, and disposal
of goods and services
consumer confidence - correct answer Statistical measure of consumers' level of
optimism about current and future economic conditions
Consumer involvement - correct answer Level of consumer interest, search, or
complex decision-making
consumer - correct answer The user of a purchased product or service
consumers - correct answer The user of a purchased product or service
Content marketing - correct answer Promotion through the creation and sharing
of messages and materials designed to stimulate interest in a product
contractual vertical marketing system - correct answer Cooperation between
levels of a distribution channel as described by a formal agreement
cookies - correct answer A small packet of information stored on your web
browser to help a website keep track of your visits and activity
Corporate Social Responsibility (CSR) - correct answer Way of conducting
business with commitment to the values, norms, and expectations of society for
social responsibility
corporate vertical marketing system - correct answer Ownership by a single
company of all levels of production and distribution
culture - correct answer The customs, arts, social institutions, beliefs, and value
systems of a particular people, nation, or social group
customer equity - correct answer The combined customer lifetime values of all
the company's customers
