WGU D077 Exam Questions With 100%
Correct Answers
The role of marketing in a firm's business strategy. - answerThe 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...
The role of marketing in a firm's business strategy. - 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 - answer✔Prospecting and Qualifying
Approaching customers
Presenting and demonstrating the product
Handling objections
Closing
Following up
Product Life Cycle Introductory: - answer✔Low sales, Little or no profit, Often little to no
competition
Initiators - answer✔Individuals at an organization who suggest purchasing a product or service
Buyers - answer✔who are responsible for the contract
organizational buying participants. - answer✔Initiators
Deciders
Buyers
End users
Gatekeepers
Deciders - answer✔Individual(s) at an organization making the final purchase decision, often the
person who owns the budget
Five Phases of Negotiation - 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 - answer✔Individuals at an organization who affect a purchase decision, sometimes
brought into the buying process to provide technical expertise
Gatekeepers - answer✔Individuals at an organization who control the flow of information to and
among others within the buying center; often administrative professionals
End users - answer✔Individuals at an organization who will use the product or service to be
purchased
Negotiation Strategies - 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 - 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 - answer✔includes specific actions, such as advertising, to execute a
marketing strategy.
Influences on Consumer Decision Making - answer✔-Personal influences
-Interpersonal influences
Personal influences - 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 - answer✔Positioning the product as the lowest cost or best value
Economy brands
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