WGU D077 Exam 243 Questions with Verified
Answers
Type of business function that connects the consumer to the product through
communication channels that attracts the consumer. - CORRECT ANSWER Define
marketing?
Sales focus on the actual selling of the
product, while marketing focuses the process of communicating the value of the
product of the
consumer - CORRECT ANSWER What is the difference between sales and
marketing?
Arms and Hammer Baking soda - A Good, iPhone - A Good, Toothpaste - A Good -
CORRECT ANSWER a good
a pedicure - CORRECT ANSWER a service
product, price, promotion, place - CORRECT ANSWER Identify the four elements in
the Marketing mix
(Product Lifecycle, Product mix/Lines/Depth) - CORRECT ANSWER Product- two
important characteristics
,(Advertising, Public Relations) - CORRECT ANSWER promotion- two important
characteristics
(Direct and indirect distribution) - CORRECT ANSWER place- two important
characteristics
(Profit, Revenue, Skimming, Leader Pricing) - CORRECT ANSWER price- two
important characteristics
introductory, growth, maturity, decline - CORRECT ANSWER What is Product life
cycle stage? Identify at least two main features in each of the life cycle stages. -
Consists of 4 stages Introductory (Low Sales, Low or no profit), Growth, Maturity
(High Sales, High the
declining profits) and Decline.
Low sales
Little or no profit
Often little to no competition - CORRECT ANSWER Introductory stage
Increasing sales,
profit Rapidly increasing
Market has accepted the product and competitors begin to enter the market -
CORRECT ANSWER growth stage
sales High,
,profit High then declining
High level of competition, may be difficult for original company to compete -
CORRECT ANSWER maturity stage
sales Declining
profit Declining
Competitive pressure remains high and demand falls - CORRECT ANSWER decline
stage
(Number of product versions offered by the company) - CORRECT ANSWER
product depth
(Similar products produced by the company) - CORRECT ANSWER product lines
(Similar to product mix) - CORRECT ANSWER product width
(Complete product range under a company) - CORRECT ANSWER What is product
mix
(Price new product high to increase profits) - CORRECT ANSWER Price skimming
a pricing strategy in which a firm introduces a new product at a very low price to
encourage more customers to purchase it - CORRECT ANSWER Penetration pricing
Price
, products below markup or at cost to attract customers to new locations -
CORRECT ANSWER Leader pricing
(Price product high to increase its perceived value) - CORRECT ANSWER prestige
pricing
(Price product according to competition prices) - CORRECT ANSWER competitive
pricing strategy
traditional advertising, sales promotion, public
relations, personal selling, social media, and digital marketing - CORRECT ANSWER
What are the different components in Promotions?
(Targeted communications developed to help guide consumer through the buying
process) - CORRECT ANSWER What is the difference between integrated
marketing communications
(Consistent communication through all channels controlled by the company) -
CORRECT ANSWER Omnichannel communication
Act of getting the product from the producer to the consumer - CORRECT ANSWER
What is Place strategy?
Act of getting the raw materials to the producers - CORRECT ANSWER What is
Distribution?
Answers
Type of business function that connects the consumer to the product through
communication channels that attracts the consumer. - CORRECT ANSWER Define
marketing?
Sales focus on the actual selling of the
product, while marketing focuses the process of communicating the value of the
product of the
consumer - CORRECT ANSWER What is the difference between sales and
marketing?
Arms and Hammer Baking soda - A Good, iPhone - A Good, Toothpaste - A Good -
CORRECT ANSWER a good
a pedicure - CORRECT ANSWER a service
product, price, promotion, place - CORRECT ANSWER Identify the four elements in
the Marketing mix
(Product Lifecycle, Product mix/Lines/Depth) - CORRECT ANSWER Product- two
important characteristics
,(Advertising, Public Relations) - CORRECT ANSWER promotion- two important
characteristics
(Direct and indirect distribution) - CORRECT ANSWER place- two important
characteristics
(Profit, Revenue, Skimming, Leader Pricing) - CORRECT ANSWER price- two
important characteristics
introductory, growth, maturity, decline - CORRECT ANSWER What is Product life
cycle stage? Identify at least two main features in each of the life cycle stages. -
Consists of 4 stages Introductory (Low Sales, Low or no profit), Growth, Maturity
(High Sales, High the
declining profits) and Decline.
Low sales
Little or no profit
Often little to no competition - CORRECT ANSWER Introductory stage
Increasing sales,
profit Rapidly increasing
Market has accepted the product and competitors begin to enter the market -
CORRECT ANSWER growth stage
sales High,
,profit High then declining
High level of competition, may be difficult for original company to compete -
CORRECT ANSWER maturity stage
sales Declining
profit Declining
Competitive pressure remains high and demand falls - CORRECT ANSWER decline
stage
(Number of product versions offered by the company) - CORRECT ANSWER
product depth
(Similar products produced by the company) - CORRECT ANSWER product lines
(Similar to product mix) - CORRECT ANSWER product width
(Complete product range under a company) - CORRECT ANSWER What is product
mix
(Price new product high to increase profits) - CORRECT ANSWER Price skimming
a pricing strategy in which a firm introduces a new product at a very low price to
encourage more customers to purchase it - CORRECT ANSWER Penetration pricing
Price
, products below markup or at cost to attract customers to new locations -
CORRECT ANSWER Leader pricing
(Price product high to increase its perceived value) - CORRECT ANSWER prestige
pricing
(Price product according to competition prices) - CORRECT ANSWER competitive
pricing strategy
traditional advertising, sales promotion, public
relations, personal selling, social media, and digital marketing - CORRECT ANSWER
What are the different components in Promotions?
(Targeted communications developed to help guide consumer through the buying
process) - CORRECT ANSWER What is the difference between integrated
marketing communications
(Consistent communication through all channels controlled by the company) -
CORRECT ANSWER Omnichannel communication
Act of getting the product from the producer to the consumer - CORRECT ANSWER
What is Place strategy?
Act of getting the raw materials to the producers - CORRECT ANSWER What is
Distribution?
