WGU D077 Concepts in Marketing, Sales, and
Customer Contact exam guide for objective
assessment 100% guaranteed pass graded a+
latest approved version with correct well
explained questions and answers
Product Development - Answer New products to current customers (butcher
shop selling spices) (type of growth strategies)
Market Development - Answer Same product new market (Opening new stores)
(type of growth strategies)
Diversification Strategy - Answer New products and new market (Buying a
company in a completely different industry) (type of growth strategies)
customer relationship management (CRM) - Answer combo of policies,
processes and strategies used to unify a company's customer interaction and
provide mechanism for tracking customer info. Aligns with marketing concept.
Relies on customer data.
Lead - Answer Identifying a person that is a potential purchaser.
Prospect - Answer a perspective customer that can become a lead.
five steps in the customer life cycle - Answer Reach, Acquisitions, Conversion,
Retention, and Loyalty
,Customer lifetime value (CLV) - Answer this is one measure that marketing
may use to determine the profitability and effectiveness of marketing campaigns.
How to calculate Customer lifetime value (CLV) - Answer Profit margin per
customer X # of years they are an active customer - the cost of acquiring the
customer= Lifetime value. Focuses on longevity vs momentary gains, helps predict
profit associated with a customer's lifetime purchase relationship to a company.
customer equity - Answer this term refers to the total combined customer
lifetime values for all the purchases the customers make for that product over their
total buying experience.
three drivers to customer equity - Answer Value- value of products or services
Brand- value of brand compared to competitors
Retention- likeliness that a customer will maintain loyalty regardless of change.
(Customer point of view)
customer satisfaction - Answer Ensuring that the customer got right product at
the right place at the right time for the right price.
four guidelines regarding fair information practices recommended by Federal
Trade Commission (FTC) - Answer 1. Notice: Consumers should be given
notice of a company's information practices before any personal information is
collected from them.
2. Choice: Consumers should be given options to control how their data is used by
opting in or opting out.
3. Access: Consumer should have the ability to view the data collected and verify
and contest its accuracy.
, 4. Security: Information collectors should ensure that the data they collect are
accurate and secure. Information collectors can keep their data secure by protecting
against both internal and external security threats. They can limit access within
their company to only necessary employees to protect against internal threats, and
they can use encryption and other computer-based security systems to stop outside
threats.
Controlling the Assault of Non-Solicited Pornography and Marketing (CAN-
SPAM) act - Answer this was passed in 2003 and gives consumers the ability to
opt out of communications.
Business-to-Consumer (B2C) - Answer a company does business with
individual customers. Includes: mass marketing, a single purchase, a single step
buying process.
Business-to-Business (B2B) - Answer a company does business with other
businesses. Includes: personal selling, multiple purchases and one-time, multiple
steps buying process.
Market Segmentation - Answer divides the market into smaller group.
Target Marketing - Answer separates segmented markets into even more
targeted groups that are most likely to purchase a particular item.
Four segmentation strategies - Answer Geographic Segmentation- groups
separated by location
Demographic Segmentation- groups separated by gender, age, income, ethnicity,
woman vs man, or kids
Psychographic Segmentation- attitudes, interests, opinions, beliefs.
Customer Contact exam guide for objective
assessment 100% guaranteed pass graded a+
latest approved version with correct well
explained questions and answers
Product Development - Answer New products to current customers (butcher
shop selling spices) (type of growth strategies)
Market Development - Answer Same product new market (Opening new stores)
(type of growth strategies)
Diversification Strategy - Answer New products and new market (Buying a
company in a completely different industry) (type of growth strategies)
customer relationship management (CRM) - Answer combo of policies,
processes and strategies used to unify a company's customer interaction and
provide mechanism for tracking customer info. Aligns with marketing concept.
Relies on customer data.
Lead - Answer Identifying a person that is a potential purchaser.
Prospect - Answer a perspective customer that can become a lead.
five steps in the customer life cycle - Answer Reach, Acquisitions, Conversion,
Retention, and Loyalty
,Customer lifetime value (CLV) - Answer this is one measure that marketing
may use to determine the profitability and effectiveness of marketing campaigns.
How to calculate Customer lifetime value (CLV) - Answer Profit margin per
customer X # of years they are an active customer - the cost of acquiring the
customer= Lifetime value. Focuses on longevity vs momentary gains, helps predict
profit associated with a customer's lifetime purchase relationship to a company.
customer equity - Answer this term refers to the total combined customer
lifetime values for all the purchases the customers make for that product over their
total buying experience.
three drivers to customer equity - Answer Value- value of products or services
Brand- value of brand compared to competitors
Retention- likeliness that a customer will maintain loyalty regardless of change.
(Customer point of view)
customer satisfaction - Answer Ensuring that the customer got right product at
the right place at the right time for the right price.
four guidelines regarding fair information practices recommended by Federal
Trade Commission (FTC) - Answer 1. Notice: Consumers should be given
notice of a company's information practices before any personal information is
collected from them.
2. Choice: Consumers should be given options to control how their data is used by
opting in or opting out.
3. Access: Consumer should have the ability to view the data collected and verify
and contest its accuracy.
, 4. Security: Information collectors should ensure that the data they collect are
accurate and secure. Information collectors can keep their data secure by protecting
against both internal and external security threats. They can limit access within
their company to only necessary employees to protect against internal threats, and
they can use encryption and other computer-based security systems to stop outside
threats.
Controlling the Assault of Non-Solicited Pornography and Marketing (CAN-
SPAM) act - Answer this was passed in 2003 and gives consumers the ability to
opt out of communications.
Business-to-Consumer (B2C) - Answer a company does business with
individual customers. Includes: mass marketing, a single purchase, a single step
buying process.
Business-to-Business (B2B) - Answer a company does business with other
businesses. Includes: personal selling, multiple purchases and one-time, multiple
steps buying process.
Market Segmentation - Answer divides the market into smaller group.
Target Marketing - Answer separates segmented markets into even more
targeted groups that are most likely to purchase a particular item.
Four segmentation strategies - Answer Geographic Segmentation- groups
separated by location
Demographic Segmentation- groups separated by gender, age, income, ethnicity,
woman vs man, or kids
Psychographic Segmentation- attitudes, interests, opinions, beliefs.
