WGU MBA First Half of Exams
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ [LATEST] 100%
GUARANTEED PASS
Effectiveness - CORRECT ANSWER-______ is the degree to which long-term customer
relationships help achiee an organization's objectives.
Efficiency - CORRECT ANSWER-______ refers to minimizing the resources an organization use
to achieve a specific level of desired customer relationships
strategic planning - CORRECT ANSWER-the process of establishing an organizational mission
and formulating goals, corporate strategy, marketing objectives, and marketing strategy
,mission statement - CORRECT ANSWER-a long-term view, or vision, of what the organization
wants to become
corporate identity - CORRECT ANSWER-an organizaion's unique symbols, personalities and
philosophies
corporate strategies - CORRECT ANSWER-a strategy that determines the means for utilizing
resources in the various functional areas to reach the organizations goals
strategic business unit (SBU) - CORRECT ANSWER-a division, product line or other profit center
within the parent company
market share - CORRECT ANSWER-the percentage of a market that actually buys a specific
product from a particular company
market growth/market share matrix - CORRECT ANSWER-a helpful business tool, based on the
philosophy that a product's market growth rate and its market share are important
considerations in determining its marketing strategy
producer markets - CORRECT ANSWER-individuals and business organizations that purchase
products to make profits by using them to produce other products or using them in
operations
reseller markets - CORRECT ANSWER-intermediaries that buy finished goods and resell them
for a profit
government markets - CORRECT ANSWER-federal, state, county, or local governments that
buy goods and services to support their internal operations and provide products to their
constituencies
,institutional markets - CORRECT ANSWER-organizations with charitable, educational,
community, or other non business goals
reciprocity - CORRECT ANSWER-an arrangement unique to business marketing in which two
organizations agree to buy from each other
new-task purchase - CORRECT ANSWER-an organizations initial purchase of an item to be used
to perform a new job or solve a new problem
straight rebuy purchase - CORRECT ANSWER-a routine purchase of the same products under
approximately the same terms of sale by a business buyer
modified rebuy purchase - CORRECT ANSWER-a new-task purchase that is changed on
subsequent orders or when the requirements of a straight rebuy purchase are modified.
derived demand - CORRECT ANSWER-demand for business products that stems from demand
for consumer products
inelastic demand - CORRECT ANSWER-demand for business products that stems from demand
for consumer products
joint demand - CORRECT ANSWER-demand involving the use of two or more items in
combination to produce a product
business (organizational) buying behavior - CORRECT ANSWER-the purchase behavior of
producers, government units, institutions and resellers
buying center - CORRECT ANSWER-the people within an organization who make business
purchase decisions
, value analysis - CORRECT ANSWER-an evaluation of each component of a potential purchase
vendor analysis - CORRECT ANSWER-a formal, systematic evaluation of current an potential
vendors
multiple sourcing - CORRECT ANSWER-an organizations decision to use several suppliers
sole sourcing - CORRECT ANSWER-an organizations decision to use only one supplier
price - CORRECT ANSWER-the value paid for a product in a marketing exchange
barter - CORRECT ANSWER-the trading of products
price competition - CORRECT ANSWER-emphasizing price as an issue and matching or beating
competitors' prices
nonprice competition - CORRECT ANSWER-emphasizing factors other than price to distinguish
a product from competing brands
demand curve - CORRECT ANSWER-a graph of quantity of products expected to be sold at
various prices if other factors remain constant
price elasticity of demand - CORRECT ANSWER-a measure of the sensitivity of demand to
changes in price
fixed costs - CORRECT ANSWER-costs that do not vary with changes in the number of units
produced or sold
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ [LATEST] 100%
GUARANTEED PASS
Effectiveness - CORRECT ANSWER-______ is the degree to which long-term customer
relationships help achiee an organization's objectives.
Efficiency - CORRECT ANSWER-______ refers to minimizing the resources an organization use
to achieve a specific level of desired customer relationships
strategic planning - CORRECT ANSWER-the process of establishing an organizational mission
and formulating goals, corporate strategy, marketing objectives, and marketing strategy
,mission statement - CORRECT ANSWER-a long-term view, or vision, of what the organization
wants to become
corporate identity - CORRECT ANSWER-an organizaion's unique symbols, personalities and
philosophies
corporate strategies - CORRECT ANSWER-a strategy that determines the means for utilizing
resources in the various functional areas to reach the organizations goals
strategic business unit (SBU) - CORRECT ANSWER-a division, product line or other profit center
within the parent company
market share - CORRECT ANSWER-the percentage of a market that actually buys a specific
product from a particular company
market growth/market share matrix - CORRECT ANSWER-a helpful business tool, based on the
philosophy that a product's market growth rate and its market share are important
considerations in determining its marketing strategy
producer markets - CORRECT ANSWER-individuals and business organizations that purchase
products to make profits by using them to produce other products or using them in
operations
reseller markets - CORRECT ANSWER-intermediaries that buy finished goods and resell them
for a profit
government markets - CORRECT ANSWER-federal, state, county, or local governments that
buy goods and services to support their internal operations and provide products to their
constituencies
,institutional markets - CORRECT ANSWER-organizations with charitable, educational,
community, or other non business goals
reciprocity - CORRECT ANSWER-an arrangement unique to business marketing in which two
organizations agree to buy from each other
new-task purchase - CORRECT ANSWER-an organizations initial purchase of an item to be used
to perform a new job or solve a new problem
straight rebuy purchase - CORRECT ANSWER-a routine purchase of the same products under
approximately the same terms of sale by a business buyer
modified rebuy purchase - CORRECT ANSWER-a new-task purchase that is changed on
subsequent orders or when the requirements of a straight rebuy purchase are modified.
derived demand - CORRECT ANSWER-demand for business products that stems from demand
for consumer products
inelastic demand - CORRECT ANSWER-demand for business products that stems from demand
for consumer products
joint demand - CORRECT ANSWER-demand involving the use of two or more items in
combination to produce a product
business (organizational) buying behavior - CORRECT ANSWER-the purchase behavior of
producers, government units, institutions and resellers
buying center - CORRECT ANSWER-the people within an organization who make business
purchase decisions
, value analysis - CORRECT ANSWER-an evaluation of each component of a potential purchase
vendor analysis - CORRECT ANSWER-a formal, systematic evaluation of current an potential
vendors
multiple sourcing - CORRECT ANSWER-an organizations decision to use several suppliers
sole sourcing - CORRECT ANSWER-an organizations decision to use only one supplier
price - CORRECT ANSWER-the value paid for a product in a marketing exchange
barter - CORRECT ANSWER-the trading of products
price competition - CORRECT ANSWER-emphasizing price as an issue and matching or beating
competitors' prices
nonprice competition - CORRECT ANSWER-emphasizing factors other than price to distinguish
a product from competing brands
demand curve - CORRECT ANSWER-a graph of quantity of products expected to be sold at
various prices if other factors remain constant
price elasticity of demand - CORRECT ANSWER-a measure of the sensitivity of demand to
changes in price
fixed costs - CORRECT ANSWER-costs that do not vary with changes in the number of units
produced or sold
