WGU D077 Questions And Answers Well Illustrated.
The role of marketing in a firm's business strategy. - correct answer. The role of the company's marketing department is to ensure that the company and its products provide value to the customers it wants to attract.
Name the 6 steps i...
The role of marketing in a firm's business strategy. - correct answer. The role of the
company's marketing department is to ensure that the company and its products
provide value to the customers it wants to attract.
Name the 6 steps in the sales process - correct answer. Prospecting and Qualifying
Approaching customers
Presenting and demonstrating the product
Handling objections
Closing
Following up
Product Life Cycle Introductory: - correct answer. Low sales, Little or no profit, Often
little to no competition
Initiators - correct answer. Individuals at an organization who suggest purchasing a
product or service
Buyers - correct answer. who are responsible for the contract
Deciders - correct answer. Individual(s) at an organization making the final purchase
decision, often the person who owns the budget
Five Phases of Negotiation - correct answer. -Investigation information gathering
-Determine-thinking through your desired outcome
-Presentation-assemble the information
-Bargaining-parties discuss their goals
-Closure-come to an agreement
Influencers - correct answer. Individuals at an organization who affect a purchase
decision, sometimes brought into the buying process to provide technical expertise
, Gatekeepers - correct answer. Individuals at an organization who control the flow of
information to and among others within the buying center; often administrative
professionals
End users - correct answer. Individuals at an organization who will use the product or
service to be purchased
Negotiation Strategies - correct answer. Distributive: Divide the pie (win-lose)
Integrative: Collaborate to expand the pie (win-win)
Inductive: Start with details
Deductive: Start with the big picture
Mixed: Focus on key details and big picture items
Define Marketing - correct answer. Marketing includes the way companies put
together product offerings, price them, communicate with customers, and get products
from producers to the customer.
Tactical marketing - correct answer. includes specific actions, such as advertising, to
execute a marketing strategy.
Influences on Consumer Decision Making - correct answer. -Personal influences
-Interpersonal influences
Personal influences - correct answer. are unique to each consumer in the way they
affect decision-making. These influences include needs and motivation, perceptions,
learning, and attitude
Price Positioning Strategy - correct answer. Positioning the product as the lowest cost
or best value
Economy brands
Product attributes - correct answer. quality, features, style and design
2-in-1 shampoo and conditioner
Product category Positioning strategy - correct answer. Positioning a product where
there is strong recognition for the category and brand
Tesla, the elite car brand for the environmentally conscious
Product User Positioning Strategy - correct answer. Positioning a product for a
specific user group
Johnson & Johnson baby products
Product application positioning strategy - correct answer. Positioning a product based
off of how it is used as the best option for that specific task and use
Specific brand of greeting card for a special occasion (such as Hallmark)
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