C712 Marketing Fundamentals WGU Questions and Answers (Verified Revised Full Exam) Latest 2025/2026 COMPLETE FREQUENTLY MOST TESTED QUESTIONS WITH COMPLETE SOLUTION /GET IT 100% ACCURATE!(Graded A+)

C712- Marketing Fundamentals WGU
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Questions and Verified Answers / A+ Grade
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1. Planning

Ans> Process of anticipating future events and conditions and of determining
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the best way to achieve organizational objectives.
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2. Marketing Planning g




Ans> Implementing planning activities devoted to achieving mar- keting objectives.
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3. Strategic Planning g




Ans> Process of determining an organization's primary objectives and adopting course
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s of action that will achieve these objectives.
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4. Tactical Planning g




Ans> Planning that guides the implementation of activities specified in the strategic plan
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.

5. Mission

Ans> Essential purpose that differentiates one company from others.
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6. Marketing Strategy g




Ans> Overall, company wide program for selecting a particular target market and the
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,n satisfying consumers in that market through the marketing mix.
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7. Porter's Five Forces g g




Ans> Model developed by strategy expert Michael Porter that identifies five competit
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ive forces that influence planning strategies.
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8. First Mover Strategy
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Ans> Theory advocating that the company first to offer a product in a marketplace will b
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e the long-term market winner.
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9. Second Mover Strategy g g




Ans> Theory that advocates observing closely the innova-
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g tions of first movers and then improving on them to gain advantage in the market-
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g place.

10. SWOT Analysis g




Ans> Review that helps planners compare internal organizational strengths and wea
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knesses with external opportunities and threats.
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11. Strategic Window g




Ans> Limited periods when key requirements of a market and a firm's particular com
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petencies best fit together.g g g




12. Marketing Mix g




Ans> Blending of the four strategy elements—
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,product, distribution, promotion, and pricing—
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to fit the needs and preferences of a specific target market.
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13. strategic business units (SBUs) g g g




Ans> Key business units within diversified firms.
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14. Environmental scanning g




Ans> Systematic study of the components of a purchase to determine the most cost-
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effective approach. g




15. Environmental Management g




Ans> Assessment of supplier performance in cate-
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g gories such as price, back orders, timely delivery, and attention to special requests.
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16. Strategic Alliance g




Ans> Partnership in which two or more companies combine re-
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g sources and capital to create competitive advantages in a new market.
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17. competitive environment g




Ans> Interactive process that occurs in the marketplace among marketers of directly co
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mpetitive products, marketers of products that can be substituted for one another, and m
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arketers competing for the consumer's purchasing power.
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18. Monopoly

Ans> Market structure in which a single seller dominates trade in a good or service for
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, which buyers can find no close substitutes.
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