WGU D174 - MARKETING
MANAGEMENT CORRECT 100%
extended marketing mix - ANSWERpeople, physical evidence, process
sustainability - ANSWERbalancing organizational success while ensuring the long-
term security and success of society
triple bottom line - ANSWERsocial, economic, and environmental consequences by
measuring impact on people, profits, and planet
utility - ANSWERthe want-satisfying power of a good or service
utility types - ANSWERform (raw materials to finished product)
time (when)
place (where)
ownership (exchange that allows products to be transferred)
Porter's Value Chain - Primary - ANSWERMISOO
inbound logistics, operations, outbound logistics, marketing and sales, service
Porter's Value Chain - Supportive - ANSWERTHIP
firm infrastructure, human resource management, technology development,
procurement
Stages of the Global Experience Learning Curve - ANSWER1. no foreign marketing
2. foreign marketing
3. international marketing
4. global marketing
no foreign marketing - ANSWERconducting international business through
intermediaries or limited direct contact
foreign marketing - ANSWERdeveloping local distribution and service representation
in a foreign market
international marketing - ANSWERmanufacturing outside of home country
global marketing - ANSWERconducting international business as single market with
different segments
CRM cycle - ANSWER1. knowledge discovery
2. marketing planning
3. customer interaction
4. analysis and refinement
, 4 characteristics of big data - ANSWERvolume, velocity, variety, veracity
descriptive analytics - ANSWERprovides summary of insights of raw data
diagnostic analytics - ANSWERexplore relationships b/w different factors that
influence organization's performance
prescriptive analytics - ANSWERdetermining optimal level of factors for a specific
context by considering how adjusting level will impact different marketing outcomes
6 ways emerging markets differ from developed markets - ANSWER1. lower per
capita income
2. weaker infrastructure
3. younger demographics
4. faster growth
5. transforming to rule by market (rely on local)
6. high level of corruption
Global Market Entry Strategies - ANSWER1. exporting - low risk and minimal
investment
2. contractual agreement - relationship w/ another company
3. strategic alliances - spreads risk among partners
4. direct foreign investment - manufactures in foreign market; takes all risk
6 C's (channel distribution strategy) - ANSWERcost, capital, control, coverage,
character, continuity
Market Research Process - ANSWER1. Define problem
2. Establish research design
3. Search secondary sources
4. Collect data
5. Analyze the data
6. Report findings
market information system (MIS) - ANSWERtools and resources used to collect data
from different markets, sources, and organizations
types of research - ANSWER1. exploratory = discovery
2. descriptive = describes phenomenon
3. casual = cause and effect b/w variables
3 main objectives of CRM - ANSWERcustomer acquisition, retention, and profitability
CLV (customer lifetime value) - ANSWERvalue of purchase x gross profit x # of
purchases
ROI (return on investment) - ANSWERnet profit / investment x 100 (percentage)
MANAGEMENT CORRECT 100%
extended marketing mix - ANSWERpeople, physical evidence, process
sustainability - ANSWERbalancing organizational success while ensuring the long-
term security and success of society
triple bottom line - ANSWERsocial, economic, and environmental consequences by
measuring impact on people, profits, and planet
utility - ANSWERthe want-satisfying power of a good or service
utility types - ANSWERform (raw materials to finished product)
time (when)
place (where)
ownership (exchange that allows products to be transferred)
Porter's Value Chain - Primary - ANSWERMISOO
inbound logistics, operations, outbound logistics, marketing and sales, service
Porter's Value Chain - Supportive - ANSWERTHIP
firm infrastructure, human resource management, technology development,
procurement
Stages of the Global Experience Learning Curve - ANSWER1. no foreign marketing
2. foreign marketing
3. international marketing
4. global marketing
no foreign marketing - ANSWERconducting international business through
intermediaries or limited direct contact
foreign marketing - ANSWERdeveloping local distribution and service representation
in a foreign market
international marketing - ANSWERmanufacturing outside of home country
global marketing - ANSWERconducting international business as single market with
different segments
CRM cycle - ANSWER1. knowledge discovery
2. marketing planning
3. customer interaction
4. analysis and refinement
, 4 characteristics of big data - ANSWERvolume, velocity, variety, veracity
descriptive analytics - ANSWERprovides summary of insights of raw data
diagnostic analytics - ANSWERexplore relationships b/w different factors that
influence organization's performance
prescriptive analytics - ANSWERdetermining optimal level of factors for a specific
context by considering how adjusting level will impact different marketing outcomes
6 ways emerging markets differ from developed markets - ANSWER1. lower per
capita income
2. weaker infrastructure
3. younger demographics
4. faster growth
5. transforming to rule by market (rely on local)
6. high level of corruption
Global Market Entry Strategies - ANSWER1. exporting - low risk and minimal
investment
2. contractual agreement - relationship w/ another company
3. strategic alliances - spreads risk among partners
4. direct foreign investment - manufactures in foreign market; takes all risk
6 C's (channel distribution strategy) - ANSWERcost, capital, control, coverage,
character, continuity
Market Research Process - ANSWER1. Define problem
2. Establish research design
3. Search secondary sources
4. Collect data
5. Analyze the data
6. Report findings
market information system (MIS) - ANSWERtools and resources used to collect data
from different markets, sources, and organizations
types of research - ANSWER1. exploratory = discovery
2. descriptive = describes phenomenon
3. casual = cause and effect b/w variables
3 main objectives of CRM - ANSWERcustomer acquisition, retention, and profitability
CLV (customer lifetime value) - ANSWERvalue of purchase x gross profit x # of
purchases
ROI (return on investment) - ANSWERnet profit / investment x 100 (percentage)
