WGU D077 CONCEPTS IN MARKETING SALES
AND CUSTOMER CONTACT ACTUAL TEST
QUESTIONS AND SOLVED ANSWERS
◉ Bargaining power of buyers.
Answer: One of Porter's Five Forces—the power of customers to
drive down prices if supply exceeds demand
◉ Bargaining power of suppliers.
Answer: One of Porter's Five Forces—the power of suppliers when
there are few alternative sources for the products' components
◉ Bargaining.
Answer: The fourth phase in the negotiation process, where the
parties seek an agreement
◉ BCG Matrix.
Answer: Planning tool which uses a quadrant to map the strategic
position of a business brand based on the brand's market share and
the market's growth potential
◉ behavioral observation.
,Answer: Primary marketing research technique involving formal or
informal observation of customers and noncustomers
◉ boycott.
Answer: Voluntary and intentional refusal to buy products from a
certain person, company, or country for ethical or political reasons
◉ brand equity.
Answer: One of the drivers of customer equity, based on how the
customer assesses the value of the brand
◉ brand loyalty.
Answer: The faithfulness of customer's to a particular company and
its products
◉ brand.
Answer: The unique identity and associations of a company, often
captured in a design, sign, symbol, or words that identify a product
and differentiate it from competitors
◉ Bundling.
Answer: Grouping related products together and pricing them as a
single product.
,◉ business cycle.
Answer: Expansions and contractions in the level of economic
activities (business fluctuations) around a long-term growth trend
◉ business to business (B2B).
Answer: Sales to another company that consumes the product or
services as part of operating the business or uses the product in the
assembly of the final product it sells to consumers
◉ business to consumer (B2C).
Answer: Sales directly to the individuals who consume a finished
product
◉ business-to-business (B2B).
Answer: Sales to another company that consumes the product or
services as part of operating the business or uses the product in the
assembly of the final product it sells to consumers
◉ business-to-consumer (B2C).
Answer: Sales directly to the individuals who consume a finished
product for personal use
◉ Buyers.
, Answer: Individuals at an organization who are responsible for the
purchase contract, often a purchasing department
◉ buying center.
Answer: Group of decision makers for a purchase by an organization
◉ Channel conflict.
Answer: When a company sells products directly to consumers, in
competition with the company's own channel partners
◉ Closed-ended questions.
Answer: Questions where a researcher provides a set of options
from which to choose a response, also called structured questions
◉ Closure.
Answer: The final phase of negotiation, where an agreement is
reached or the negotiation fails
◉ cognitive dissonance.
Answer: Mental discomfort triggered by holding two or more
contradictory beliefs, ideas, or values
◉ Collaboration.
AND CUSTOMER CONTACT ACTUAL TEST
QUESTIONS AND SOLVED ANSWERS
◉ Bargaining power of buyers.
Answer: One of Porter's Five Forces—the power of customers to
drive down prices if supply exceeds demand
◉ Bargaining power of suppliers.
Answer: One of Porter's Five Forces—the power of suppliers when
there are few alternative sources for the products' components
◉ Bargaining.
Answer: The fourth phase in the negotiation process, where the
parties seek an agreement
◉ BCG Matrix.
Answer: Planning tool which uses a quadrant to map the strategic
position of a business brand based on the brand's market share and
the market's growth potential
◉ behavioral observation.
,Answer: Primary marketing research technique involving formal or
informal observation of customers and noncustomers
◉ boycott.
Answer: Voluntary and intentional refusal to buy products from a
certain person, company, or country for ethical or political reasons
◉ brand equity.
Answer: One of the drivers of customer equity, based on how the
customer assesses the value of the brand
◉ brand loyalty.
Answer: The faithfulness of customer's to a particular company and
its products
◉ brand.
Answer: The unique identity and associations of a company, often
captured in a design, sign, symbol, or words that identify a product
and differentiate it from competitors
◉ Bundling.
Answer: Grouping related products together and pricing them as a
single product.
,◉ business cycle.
Answer: Expansions and contractions in the level of economic
activities (business fluctuations) around a long-term growth trend
◉ business to business (B2B).
Answer: Sales to another company that consumes the product or
services as part of operating the business or uses the product in the
assembly of the final product it sells to consumers
◉ business to consumer (B2C).
Answer: Sales directly to the individuals who consume a finished
product
◉ business-to-business (B2B).
Answer: Sales to another company that consumes the product or
services as part of operating the business or uses the product in the
assembly of the final product it sells to consumers
◉ business-to-consumer (B2C).
Answer: Sales directly to the individuals who consume a finished
product for personal use
◉ Buyers.
, Answer: Individuals at an organization who are responsible for the
purchase contract, often a purchasing department
◉ buying center.
Answer: Group of decision makers for a purchase by an organization
◉ Channel conflict.
Answer: When a company sells products directly to consumers, in
competition with the company's own channel partners
◉ Closed-ended questions.
Answer: Questions where a researcher provides a set of options
from which to choose a response, also called structured questions
◉ Closure.
Answer: The final phase of negotiation, where an agreement is
reached or the negotiation fails
◉ cognitive dissonance.
Answer: Mental discomfort triggered by holding two or more
contradictory beliefs, ideas, or values
◉ Collaboration.
