Marketing in the Digital Era D373 WGU OA Study Guide exam with 100% correct answers(already graded A+)

Target customers Customers based on a predefined geographic boundary Market segmentation Dividing a market through variables such as age, gender, education level, family size, occupation, income, and more Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:03 / 0:15 Full screen Psychographic Focus on the intrinsic traits the target customer has, such as values, personalities, interests, attitudes, conscious and subconscious motivators, lifestyles, and opinions Behavioral The way customers go through their decision making and buying processes, including attitudes towards the brand, the way they use it, and their knowledge base What is marketing? The set of institutions and processes for creating, communicating, delivering, and exchanging offers that have value for customers, clients, partners, and society Marketing Coordinator Entry-level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization (1-3 years). Marketing Director Mid-level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization, with 7-10 years of experience Vice President Senior-level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization, with 11-15 years of experience Chief Marketing Officer Top-level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization, with 20+ years of experience Who is responsible for ROI? (return on investments) Chief marketing officer What is the traditional marketing mix? Product, price, place, promotion What is the expanded marketing mix? Product, price, place, promotion people,process, physical evidence Strategy Represents what the company intends to do Execution Represents how the company intends to do it Prospects Potential customers who haven't bought from the company yet Customers People who have bought from the company Positioning The culmination of the products, services, and experiences that a brand provides to convey value and meet customer wants, needs, and expectations Conflict Occurs when different companies or competitors have conflicting goals Buyer's Journey The process a buyer goes through from recognizing a need or opportunity to making a purchase decision and evaluating the post-purchase experience Brand An identifiable and differentiated product, service, person, movement, etc. Brand promise What a brand promises to deliver to a customer Brand awareness Awareness of the existence of a brand Brand positioning The unique place the brand occupies in the consumer's mind, linked to benefits received Brand relevance Occurs when there is only one relevant choice, making all other brands irrelevant Brand purpose The reason the brand exists, goes beyond just selling Brand storytelling Expressing the mission, vision, values, and passion of a brand through a narrative that draws in the audience Brand differentiation How a brand or brand family is delineated, including line extension, brand extension, flanker brands, down market and up market extensions, co-branding, etc. Brand experience The totality and quality of the interactions and engagements a customer has with a company, informing their perception and opinion of the brand Purchase decision Factors influencing a customer's decision to purchase a product or service, including loyalty and rewards, ordering ease and convenience, user experience, interaction, transparency, and purpose Demographics Variables such as age, gender, education level, family size, occupation, income, etc. Psychographics Intrinsic traits of a target customer, such as values, personalities, interests, attitudes, conscious and subconscious motivators, lifestyles, and o