K
C
LO
YC
WGU D077 CONCEPTS IN
MARKETING, SALES, AND
D
CUSTOMER CONTACT
U
EXAM QUESTIONS WITH
ST
CORRECT ANSWERS ALL
VERIFIED BY AN EXPERT A+
GRADED (LATEST UPDATE)
,A/B testing - ANS A marketing experiment where two variants of a campaign are tested to
see which one is most effective
K
Accommodation - ANS Style of handling conflict focused on empathy over self-interest
Adaptive selling - ANS Using social styles to customize a sales approach to the specific
C
customer
administered vertical marketing system - ANS Cooperation between levels of a distribution
LO
channel where one member sets the terms due to its size and influence
advertising - ANS Paid form of nonpersonal promotion
amiable - ANS People with this social style want to know "why"
YC
analytical - ANS People with this social style want to know "how"
artificial intelligence - ANS Intelligent machines (computers) capable of learning and
interacting
D
attitudes - ANS Positive, negative, or ambivalent evaluation of people, objects, event,
activities, ideas, or anything else in the environment
U
attributes - ANS Characteristics that define a product and will influence the customer's
purchase decision
ST
Avoidance - ANS Style of handling conflict with little empathy or self-interest
B2B sales - ANS 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
Bait and switch - ANS Fraudulent practice where an advertised product is unavailable so a
customer is guided to a more expensive one
Bargaining power of buyers - ANS One of Porter's Five Forces—the power of customers to
drive down prices if supply exceeds demand
,Bargaining power of suppliers - ANS One of Porter's Five Forces—the power of suppliers
when there are few alternative sources for the products' components
Bargaining - ANS The fourth phase in the negotiation process, where the parties seek an
agreement
BCG Matrix - ANS 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
K
behavioral observation - ANS Primary marketing research technique involving formal or
informal observation of customers and noncustomers
C
boycott - ANS Voluntary and intentional refusal to buy products from a certain person,
company, or country for ethical or political reasons
LO
brand equity - ANS One of the drivers of customer equity, based on how the customer
assesses the value of the brand
brand loyalty - ANS The faithfulness of customer's to a particular company and its products
YC
brand - ANS 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 - ANS Grouping related products together and pricing them as a single product.
business cycle - ANS Expansions and contractions in the level of economic activities
D
(business fluctuations) around a long-term growth trend
business to business (B2B) - ANS Sales to another company that consumes the product or
U
services as part of operating the business or uses the product in the assembly of the final
product it sells to consumers
ST
business to consumer (B2C) - ANS Sales directly to the individuals who consume a finished
product
business-to-business (B2B) - ANS 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) - ANS Sales directly to the individuals who consume a finished
product for personal use
, Buyers - ANS Individuals at an organization who are responsible for the purchase contract,
often a purchasing department
buying center - ANS Group of decision makers for a purchase by an organization
Channel conflict - ANS When a company sells products directly to consumers, in competition
with the company's own channel partners
Closed-ended questions - ANS Questions where a researcher provides a set of options from
which to choose a response, also called structured questions
K
Closure - ANS The final phase of negotiation, where an agreement is reached or the
negotiation fails
C
cognitive dissonance - ANS Mental discomfort triggered by holding two or more contradictory
beliefs, ideas, or values
LO
Collaboration - ANS
self-interest
Competition - ANS
Style of handling conflict with high concern for both empathy and
Style of handling conflict focused on self-interest over empathy
YC
Competitive pricing strategy - ANS Setting the price for a product or service relative to
competitors
Compromise - ANS Middle-ground style of handling conflict
D
Concentrated marketing - ANS Targeting strategy that focuses on a very limited, specific
segment(s) of the market, also called niche marketing
U
consultative selling - ANS Sales approach where the seller becomes a trusted advisor to the
customer and builds a relationship to truly understand her needs
ST
consumer behavior - ANS The study of individuals, groups, or organizations and all the
activities associated with the purchase, use, and disposal of goods and services
consumer confidence - ANS Statistical measure of consumers' level of optimism about
current and future economic conditions
Consumer involvement - ANS Level of consumer interest, search, or complex
decision-making
consumer - ANS The user of a purchased product or service
C
LO
YC
WGU D077 CONCEPTS IN
MARKETING, SALES, AND
D
CUSTOMER CONTACT
U
EXAM QUESTIONS WITH
ST
CORRECT ANSWERS ALL
VERIFIED BY AN EXPERT A+
GRADED (LATEST UPDATE)
,A/B testing - ANS A marketing experiment where two variants of a campaign are tested to
see which one is most effective
K
Accommodation - ANS Style of handling conflict focused on empathy over self-interest
Adaptive selling - ANS Using social styles to customize a sales approach to the specific
C
customer
administered vertical marketing system - ANS Cooperation between levels of a distribution
LO
channel where one member sets the terms due to its size and influence
advertising - ANS Paid form of nonpersonal promotion
amiable - ANS People with this social style want to know "why"
YC
analytical - ANS People with this social style want to know "how"
artificial intelligence - ANS Intelligent machines (computers) capable of learning and
interacting
D
attitudes - ANS Positive, negative, or ambivalent evaluation of people, objects, event,
activities, ideas, or anything else in the environment
U
attributes - ANS Characteristics that define a product and will influence the customer's
purchase decision
ST
Avoidance - ANS Style of handling conflict with little empathy or self-interest
B2B sales - ANS 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
Bait and switch - ANS Fraudulent practice where an advertised product is unavailable so a
customer is guided to a more expensive one
Bargaining power of buyers - ANS One of Porter's Five Forces—the power of customers to
drive down prices if supply exceeds demand
,Bargaining power of suppliers - ANS One of Porter's Five Forces—the power of suppliers
when there are few alternative sources for the products' components
Bargaining - ANS The fourth phase in the negotiation process, where the parties seek an
agreement
BCG Matrix - ANS 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
K
behavioral observation - ANS Primary marketing research technique involving formal or
informal observation of customers and noncustomers
C
boycott - ANS Voluntary and intentional refusal to buy products from a certain person,
company, or country for ethical or political reasons
LO
brand equity - ANS One of the drivers of customer equity, based on how the customer
assesses the value of the brand
brand loyalty - ANS The faithfulness of customer's to a particular company and its products
YC
brand - ANS 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 - ANS Grouping related products together and pricing them as a single product.
business cycle - ANS Expansions and contractions in the level of economic activities
D
(business fluctuations) around a long-term growth trend
business to business (B2B) - ANS Sales to another company that consumes the product or
U
services as part of operating the business or uses the product in the assembly of the final
product it sells to consumers
ST
business to consumer (B2C) - ANS Sales directly to the individuals who consume a finished
product
business-to-business (B2B) - ANS 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) - ANS Sales directly to the individuals who consume a finished
product for personal use
, Buyers - ANS Individuals at an organization who are responsible for the purchase contract,
often a purchasing department
buying center - ANS Group of decision makers for a purchase by an organization
Channel conflict - ANS When a company sells products directly to consumers, in competition
with the company's own channel partners
Closed-ended questions - ANS Questions where a researcher provides a set of options from
which to choose a response, also called structured questions
K
Closure - ANS The final phase of negotiation, where an agreement is reached or the
negotiation fails
C
cognitive dissonance - ANS Mental discomfort triggered by holding two or more contradictory
beliefs, ideas, or values
LO
Collaboration - ANS
self-interest
Competition - ANS
Style of handling conflict with high concern for both empathy and
Style of handling conflict focused on self-interest over empathy
YC
Competitive pricing strategy - ANS Setting the price for a product or service relative to
competitors
Compromise - ANS Middle-ground style of handling conflict
D
Concentrated marketing - ANS Targeting strategy that focuses on a very limited, specific
segment(s) of the market, also called niche marketing
U
consultative selling - ANS Sales approach where the seller becomes a trusted advisor to the
customer and builds a relationship to truly understand her needs
ST
consumer behavior - ANS The study of individuals, groups, or organizations and all the
activities associated with the purchase, use, and disposal of goods and services
consumer confidence - ANS Statistical measure of consumers' level of optimism about
current and future economic conditions
Consumer involvement - ANS Level of consumer interest, search, or complex
decision-making
consumer - ANS The user of a purchased product or service
