WGU D077 EXAM QUESTIONS WITH COMPLETE
SOLUTIONS
Marketing Mix - CORRECT ANSWER✔✔-the set of tactical marketing
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tools - product, price, place, and promotion - that the firm blends to
| | | | | | | | | | | | |
produce the response it wants in the target market.
| | | | | | | |
product - CORRECT ANSWER✔✔-Refers to goods, services, or even
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ideas.
Product Life Cycle - CORRECT ANSWER✔✔-introduction, growth,
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maturity, decline |
product mix - CORRECT ANSWER✔✔-consists of all of the product lines
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offered by an organization
| | |
price - CORRECT ANSWER✔✔-that which is given up in an exchange to
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acquire a good or service
| | | |
price skimming - CORRECT ANSWER✔✔-A pricing strategy that involves
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setting prices higher than those of the competition, the lowering as
| | | | | | | | | | |
competition grows. |
, penetration pricing - CORRECT ANSWER✔✔-setting a low initial price on
| | | | | | | | |
a new product to appeal immediately to the mass market and gain
| | | | | | | | | | | | |
market share |
leader pricing - CORRECT ANSWER✔✔-setting some very low prices to
| | | | | | | | | |
get customers into retail stores
| | | |
Bundling - CORRECT ANSWER✔✔-grouping two or more products
| | | | | | | |
together and pricing them as a unit
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prestige pricing - CORRECT ANSWER✔✔-setting a high price so that
| | | | | | | | | |
quality or status conscious consumers will be attracted to the product
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and buy it | |
Competitive Pricing Strategies - CORRECT ANSWER✔✔-Pricing strategy
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designed to deemphasize price as a competitive variable by pricing a
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good or service at the level of comparable offerings.
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promotion - CORRECT ANSWER✔✔-Informing and influencing
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customers to buy a product: traditional advertising, sales promotion,
| | | | | | | | |
public relations, personal selling, and digital marketing.
| | | | | |
Guerilla Marketing - CORRECT ANSWER✔✔-Look it up.
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SOLUTIONS
Marketing Mix - CORRECT ANSWER✔✔-the set of tactical marketing
| | | | | | | | |
tools - product, price, place, and promotion - that the firm blends to
| | | | | | | | | | | | |
produce the response it wants in the target market.
| | | | | | | |
product - CORRECT ANSWER✔✔-Refers to goods, services, or even
| | | | | | | | |
ideas.
Product Life Cycle - CORRECT ANSWER✔✔-introduction, growth,
| | | | | | |
maturity, decline |
product mix - CORRECT ANSWER✔✔-consists of all of the product lines
| | | | | | | | | | |
offered by an organization
| | |
price - CORRECT ANSWER✔✔-that which is given up in an exchange to
| | | | | | | | | | | |
acquire a good or service
| | | |
price skimming - CORRECT ANSWER✔✔-A pricing strategy that involves
| | | | | | | | |
setting prices higher than those of the competition, the lowering as
| | | | | | | | | | |
competition grows. |
, penetration pricing - CORRECT ANSWER✔✔-setting a low initial price on
| | | | | | | | |
a new product to appeal immediately to the mass market and gain
| | | | | | | | | | | | |
market share |
leader pricing - CORRECT ANSWER✔✔-setting some very low prices to
| | | | | | | | | |
get customers into retail stores
| | | |
Bundling - CORRECT ANSWER✔✔-grouping two or more products
| | | | | | | |
together and pricing them as a unit
| | | | | |
prestige pricing - CORRECT ANSWER✔✔-setting a high price so that
| | | | | | | | | |
quality or status conscious consumers will be attracted to the product
| | | | | | | | | | |
and buy it | |
Competitive Pricing Strategies - CORRECT ANSWER✔✔-Pricing strategy
| | | | | | |
designed to deemphasize price as a competitive variable by pricing a
| | | | | | | | | | |
good or service at the level of comparable offerings.
| | | | | | | |
promotion - CORRECT ANSWER✔✔-Informing and influencing
| | | | | |
customers to buy a product: traditional advertising, sales promotion,
| | | | | | | | |
public relations, personal selling, and digital marketing.
| | | | | |
Guerilla Marketing - CORRECT ANSWER✔✔-Look it up.
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