WGU C212 MARKETING CORE MAIN EXAMS SET
QUESTIONS AND ANSWERS SURE A+
✔✔Marketing Cost Analysis - ✔✔Analysis of costs to determine which are associated
with specific marketing efforts
✔✔Marketing Strategy - ✔✔A plan of action for identifying and analyzing a target
market and developing a marketing mix to meet the needs of that market
✔✔Centralized Organization - ✔✔A structure in which top level management delegate
little authority to lower levels
✔✔Marketing Objective - ✔✔A statement of what is to be accomplished through
marketing activities
✔✔Strategic Windows - ✔✔Temporary periods of optimal fit between the key
requirements of a market and the particular capabilities of a company competing in that
market
✔✔Performance Standard - ✔✔An expected level of performance of which an actual
performance could be compared against
,✔✔Market Growth/Market Share Matrix - ✔✔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 market strategy
✔✔Sustainable Competitive Advantage - ✔✔An advantage that the competition cannot
copy
✔✔Marketing Implementation - ✔✔The process of putting marketing strategies into
action
✔✔Market Opportunity - ✔✔A combination of circumstances and timing that permits an
organization to take action to reach a particular target market
✔✔First Mover Advantage - ✔✔The ability of an innovative company to achieve a long
term competitive advantage by being the first to offer a certain product into the market
place
✔✔Corporate Strategies - ✔✔A strategy that determines the means for utilizing
resources in the various functional areas to reach the organizational goals
✔✔Strategic Market Management - ✔✔The process of planning, implementing, and
evaluating the performance of marketing activities and strategies both effectively and
efficiently
✔✔Market Share - ✔✔The percentage of the market that actually buys a specific
product from a particular company
✔✔Market - ✔✔A group of individuals and/or organizations that have needs for
products in a product class and have the ability, willingness, and authority to purchase
those products
✔✔Strategic Planning - ✔✔The process of establishing an organizational mission and
formulating goals, corporate strategy, marketing objectives, and marketing strategy
✔✔Core Competencies - ✔✔Things a company does extremely well that sometimes
gives and advantage over the competition
✔✔Mission Statement - ✔✔The long term view or vision of what the company hopes to
become
✔✔SWOT Analysis - ✔✔An assessment of organizational strengths, weaknesses,
opportunities, and threats
, ✔✔Competitive Advantage - ✔✔The result of a company matching a core competency
to opportunities it has discovered in the market place
✔✔Corporate Strategy - ✔✔A strategy that determines the means for utilizing resources
in the various functional areas to reach the organizations goals
✔✔Strategic Business Unit (SBU) - ✔✔A division, product line, or other profit center
within the parent company
✔✔Codes of Conduct - ✔✔Formalized rules and standards that describe what the
company expects of its employees
✔✔Cause-Related Marketing - ✔✔The practice of linking products to a particular social
cause on an on-going or short term timeline
✔✔Ethical Issue - ✔✔An identifiable problem, situation, or opportunity requiring a
choice among several actions that must be evaluated as right or wrong, ethical or
unethical
✔✔Sustainability - ✔✔The potential for the long term well-being of the natural
environment as well as the interactions between businesses and nature
✔✔Strategic Philanthropy - ✔✔The synergistic use of organizational core competencies
and resources to address key stakeholder's interest and achieve both organizational
and social benefits
✔✔Organizational - ✔✔A set of values, beliefs, goals, norms, and rituals that members
of an organization share
✔✔Social Responsibility - ✔✔An organization's obligation to maximize its positive
impact and minimize its negative impact on society
✔✔Marketing Ethics - ✔✔Principles and standards that define acceptable marketing
conduct as determined by various stakeholders
✔✔Marketing Citizenship - ✔✔The adoption of a strategic focus for fulfilling the
economic, legal, ethical and philanthropic social responsibilities expected by
stakeholders
✔✔Intangibility - ✔✔A service that is not physical and cannot be perceived by the
senses
✔✔Non-Profit Marketing - ✔✔Marketing activities conducted to achieve some goal other
than ordinary business goals involving money
QUESTIONS AND ANSWERS SURE A+
✔✔Marketing Cost Analysis - ✔✔Analysis of costs to determine which are associated
with specific marketing efforts
✔✔Marketing Strategy - ✔✔A plan of action for identifying and analyzing a target
market and developing a marketing mix to meet the needs of that market
✔✔Centralized Organization - ✔✔A structure in which top level management delegate
little authority to lower levels
✔✔Marketing Objective - ✔✔A statement of what is to be accomplished through
marketing activities
✔✔Strategic Windows - ✔✔Temporary periods of optimal fit between the key
requirements of a market and the particular capabilities of a company competing in that
market
✔✔Performance Standard - ✔✔An expected level of performance of which an actual
performance could be compared against
,✔✔Market Growth/Market Share Matrix - ✔✔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 market strategy
✔✔Sustainable Competitive Advantage - ✔✔An advantage that the competition cannot
copy
✔✔Marketing Implementation - ✔✔The process of putting marketing strategies into
action
✔✔Market Opportunity - ✔✔A combination of circumstances and timing that permits an
organization to take action to reach a particular target market
✔✔First Mover Advantage - ✔✔The ability of an innovative company to achieve a long
term competitive advantage by being the first to offer a certain product into the market
place
✔✔Corporate Strategies - ✔✔A strategy that determines the means for utilizing
resources in the various functional areas to reach the organizational goals
✔✔Strategic Market Management - ✔✔The process of planning, implementing, and
evaluating the performance of marketing activities and strategies both effectively and
efficiently
✔✔Market Share - ✔✔The percentage of the market that actually buys a specific
product from a particular company
✔✔Market - ✔✔A group of individuals and/or organizations that have needs for
products in a product class and have the ability, willingness, and authority to purchase
those products
✔✔Strategic Planning - ✔✔The process of establishing an organizational mission and
formulating goals, corporate strategy, marketing objectives, and marketing strategy
✔✔Core Competencies - ✔✔Things a company does extremely well that sometimes
gives and advantage over the competition
✔✔Mission Statement - ✔✔The long term view or vision of what the company hopes to
become
✔✔SWOT Analysis - ✔✔An assessment of organizational strengths, weaknesses,
opportunities, and threats
, ✔✔Competitive Advantage - ✔✔The result of a company matching a core competency
to opportunities it has discovered in the market place
✔✔Corporate Strategy - ✔✔A strategy that determines the means for utilizing resources
in the various functional areas to reach the organizations goals
✔✔Strategic Business Unit (SBU) - ✔✔A division, product line, or other profit center
within the parent company
✔✔Codes of Conduct - ✔✔Formalized rules and standards that describe what the
company expects of its employees
✔✔Cause-Related Marketing - ✔✔The practice of linking products to a particular social
cause on an on-going or short term timeline
✔✔Ethical Issue - ✔✔An identifiable problem, situation, or opportunity requiring a
choice among several actions that must be evaluated as right or wrong, ethical or
unethical
✔✔Sustainability - ✔✔The potential for the long term well-being of the natural
environment as well as the interactions between businesses and nature
✔✔Strategic Philanthropy - ✔✔The synergistic use of organizational core competencies
and resources to address key stakeholder's interest and achieve both organizational
and social benefits
✔✔Organizational - ✔✔A set of values, beliefs, goals, norms, and rituals that members
of an organization share
✔✔Social Responsibility - ✔✔An organization's obligation to maximize its positive
impact and minimize its negative impact on society
✔✔Marketing Ethics - ✔✔Principles and standards that define acceptable marketing
conduct as determined by various stakeholders
✔✔Marketing Citizenship - ✔✔The adoption of a strategic focus for fulfilling the
economic, legal, ethical and philanthropic social responsibilities expected by
stakeholders
✔✔Intangibility - ✔✔A service that is not physical and cannot be perceived by the
senses
✔✔Non-Profit Marketing - ✔✔Marketing activities conducted to achieve some goal other
than ordinary business goals involving money
