WGU D077 CONCEPTS IN MARKETING ,SALES AND CUSTOMER CONTACT EXAM QUESTIONS WITH CORRECT ANSWERS ALL VERIFIED BY AN EXPERT A+ GRADED (LATEST UPDATE)

TIna worked with a packaging company, Company X, to create a new method for processing mixed paper waste into recyclable products for resale. Another packaging company, Company Y, a competitor of Company X, has also approached and offered to help Ana develop recyclable product for resale. Ana knows that helping Company Y will automatically reveal the newly learned techniques to its competitor, Company X. Which ethical dilemma does this raise for this owner? - ANS Nondisclosure What is the main function of marketing? - ANS Bringing value to customers Which set of connections is created by marketers to generate value? - ANS Between customers and products Business cycle phases - ANS expansion, peak, contraction, and trough The director plans to post the menu for the day by 5:00 each morning. This information will include the nutrition facts associated with breakfast, lunch, and dinner, and describe the standards used in the meal preparation. Which activity is the community center using to create value through its menu marketing? - ANS Creating awareness of fresh meals The community center is the first in the city to offer freshly prepared meals in partnership with the food warehouse. Which stage of the product life cycle do the meals represent to the community? - ANS Introduction The director plans to design and implement a marketing campaign. Which example describes the director's primary goal for the marketing campaign? - ANS Promoting awareness of its food offerings What is one example of an uncontrollable element of the community center's marketing environment? - ANS Citizen participation in meals The director researches the reason for the community's food insecurity and learns that companies closed during the recent recession and left individuals without jobs. This unemployment has created significant food insecurity among those who remain without stable incomes. Which element of the PEST analysis is the community center responding to by creating its meal program? - ANS Economic needs of community citizens Which ethical consideration in marketing is illustrated by the community center's meal program? - ANS Offering food to everyone During a meeting, a marketing department describes the sales goals for the year, the target markets selected, and the actions the department will undertake to reach these goals. Which portion of the marketing planning process was discussed during this meeting? - ANS Marketing strategy SWOT Analysis - ANS examines the internal (controllable) and external (uncontrollable) factors that impact the organization and its strategies. SWOT internal factors - ANS strengths and weaknesses, controllable. ex: financial resources, technical resources, human resources, product lines. SWOT external factors - ANS opportunities and threats, uncontrollable. ex: tech innovations, competition, economy, government policies, legal judgements, social trends. two benefits of SWOT analysis - ANS it encourages realistic planning, and it improves an organization's ability to forecast future events. The BCG matrix considers two different aspects of a business unit or product: - ANS What is the current market share? and What is the market's growth potential? BCG matrix four quadrants - ANS dog, cash cow, question mark, star BCG Dog - ANS low growth potential and a small, mature market. divest or harvest, no new funds. BCG Cash Cow - ANS has high market share and is in a slow-growing industry. It is bringing in more money than is being invested in it, but it does not have much growth potential. The profits can be used to fund high-growth investments, but itself warrants low investment. BCG Question Mark - ANS has low market share currently, but is in a growing industry. it is consuming financing and creating a low rate of return for now, but its direction is unclear. has the potential to become either a star or a dog, so close monitoring is needed to determine its growth potential. BCG Star - ANS has high market share in a fast-growing industry. poised to bring a strong return on the funds invested. It also has the potential to become a cash cow at the end of the product life cycle, which can fund future investments. Porter's Five Forces - ANS threat of entry, threat of substitute, supplier power, buyer power, and competitive rivalry Strategies - ANS what an organization is going to do to achieve its objectives.