WGU D199 FINAL PAPER EXAMPREP
COMPLETE QUESTIONS AND ANSWERS
VIEW AHEAD STUDY SHEET
◉ Modular structure. Answer: Divides the business into small, tightly
knit strategic business units (SBUs), which focus on specific elements
of the organizational process
◉ Value chain. Answer: The process or activities by which a company
adds value to a product, including production, marketing, and the
provision of after-sales service
◉ Strategic business units (SBUs). Answer: A profit center that
focuses on product offering and market segment
◉ Sustainable competitive advantage. Answer: Company assets,
attributes, or abilities that are difficult to duplicate or exceed and
provide a superior or favorable long-term position over competitors
◉ Factors that can help a business develop a sustainable competitive
advantage. Answer: Customer loyalty, location, distribution and
information systems (Getting products at a cheap price and selling
them at a reasonable price), unique merchandise, vendor relations,
customer service, and multiple source advantage (being widely
recognized by your strengths)
,◉ Business intelligence (BI). Answer: The use of data in an enterprise
to facilitate decision-making
◉ Big data analytics. Answer: Large, complex data sets that require
non-traditional data processing software to predict trends and
forecasts
◉ Four elements that make up ethical behavior within an
organization. Answer: A written code of ethics and standards. Ethics
training to executives, managers, and employees. Availability of
advice on ethical situations (advice lines or ethics offices). A system
for confidential reporting.
◉ Integrated marketing communications (IMC). Answer: The careful
coordination of all promotional activities—media advertising, sales
promotion, personal selling, and public relations, as well as direct
marketing, packaging, and other forms of promotion—to produce a
consistent, unified message that is customer focused
◉ Marketing concept. Answer: Identifying consumer needs and then
producing the goods or services that will satisfy those needs while
making a profit for the organization
◉ Promotional techniques. Answer: Advertising, sales promotion, and
publicity, or creating new sales channels or new products
,◉ Promotional mix. Answer: The combination of advertising,
personal selling, sales promotion, and public relations used to
promote a product
◉ The main limitation of the AIDA model. Answer: The model
assumes consumers are passive and marketers are active during most
of the buying process.
◉ What is the main difference between the AIDA model of the
buyer's journey and the six steps model of the buying process?.
Answer: The AIDA model assumes that the customer experience ends
at the purchase while the six-step process considers the after-purchase
relationship with the customer.
◉ Transactional selling. Answer: Focuses on short-term, often single,
transactions.
◉ Relationship selling. Answer: Focused on long-term relationship
building to keep customers satisfied and consequently convince them
to return and make multiple purchases.
◉ Adaptive selling. Answer: Using social styles to customize a sales
approach to the specific customer
◉ Social style matrix. Answer: A model that categorizes people
according to personality traits and how they interact with others
, ◉ Analyticals. Answer: Focus on "how,"include facts, do not
challenge their facts, demonstrate results, mention guarantees and
warranties, give them time to decide, communicate the pros and cons,
and provide history, data, financial details. Low responsiveness and
low assertiveness
◉ Drivers. Answer: Focus on "what," get to the point quickly, provide
options, use facts, focus on results, provide timelines, and make them
feel in control. Low responsiveness and high assertiveness
◉ Amiables. Answer: Focus on "why," establish a personal
relationship, demonstrate personal commitment, and work as a team.
High responsiveness and low assertiveness
◉ Expressives. Answer: Focus on "who," take extra time to discuss
everything, give them recognition and approval, ask them how they
feel about the product or service, focus on the big picture, and use
facts and figures to demonstrate what is possible. High responsiveness
and high assertiveness
◉ Consultative selling. Answer: Sales approach where the seller
becomes a trusted advisor to the customer and builds a relationship to
truly understand his or her needs
◉ Customer lifetime value (CLV). Answer: A prediction of the net
profit attributed to the entire future relationship with a customer
COMPLETE QUESTIONS AND ANSWERS
VIEW AHEAD STUDY SHEET
◉ Modular structure. Answer: Divides the business into small, tightly
knit strategic business units (SBUs), which focus on specific elements
of the organizational process
◉ Value chain. Answer: The process or activities by which a company
adds value to a product, including production, marketing, and the
provision of after-sales service
◉ Strategic business units (SBUs). Answer: A profit center that
focuses on product offering and market segment
◉ Sustainable competitive advantage. Answer: Company assets,
attributes, or abilities that are difficult to duplicate or exceed and
provide a superior or favorable long-term position over competitors
◉ Factors that can help a business develop a sustainable competitive
advantage. Answer: Customer loyalty, location, distribution and
information systems (Getting products at a cheap price and selling
them at a reasonable price), unique merchandise, vendor relations,
customer service, and multiple source advantage (being widely
recognized by your strengths)
,◉ Business intelligence (BI). Answer: The use of data in an enterprise
to facilitate decision-making
◉ Big data analytics. Answer: Large, complex data sets that require
non-traditional data processing software to predict trends and
forecasts
◉ Four elements that make up ethical behavior within an
organization. Answer: A written code of ethics and standards. Ethics
training to executives, managers, and employees. Availability of
advice on ethical situations (advice lines or ethics offices). A system
for confidential reporting.
◉ Integrated marketing communications (IMC). Answer: The careful
coordination of all promotional activities—media advertising, sales
promotion, personal selling, and public relations, as well as direct
marketing, packaging, and other forms of promotion—to produce a
consistent, unified message that is customer focused
◉ Marketing concept. Answer: Identifying consumer needs and then
producing the goods or services that will satisfy those needs while
making a profit for the organization
◉ Promotional techniques. Answer: Advertising, sales promotion, and
publicity, or creating new sales channels or new products
,◉ Promotional mix. Answer: The combination of advertising,
personal selling, sales promotion, and public relations used to
promote a product
◉ The main limitation of the AIDA model. Answer: The model
assumes consumers are passive and marketers are active during most
of the buying process.
◉ What is the main difference between the AIDA model of the
buyer's journey and the six steps model of the buying process?.
Answer: The AIDA model assumes that the customer experience ends
at the purchase while the six-step process considers the after-purchase
relationship with the customer.
◉ Transactional selling. Answer: Focuses on short-term, often single,
transactions.
◉ Relationship selling. Answer: Focused on long-term relationship
building to keep customers satisfied and consequently convince them
to return and make multiple purchases.
◉ Adaptive selling. Answer: Using social styles to customize a sales
approach to the specific customer
◉ Social style matrix. Answer: A model that categorizes people
according to personality traits and how they interact with others
, ◉ Analyticals. Answer: Focus on "how,"include facts, do not
challenge their facts, demonstrate results, mention guarantees and
warranties, give them time to decide, communicate the pros and cons,
and provide history, data, financial details. Low responsiveness and
low assertiveness
◉ Drivers. Answer: Focus on "what," get to the point quickly, provide
options, use facts, focus on results, provide timelines, and make them
feel in control. Low responsiveness and high assertiveness
◉ Amiables. Answer: Focus on "why," establish a personal
relationship, demonstrate personal commitment, and work as a team.
High responsiveness and low assertiveness
◉ Expressives. Answer: Focus on "who," take extra time to discuss
everything, give them recognition and approval, ask them how they
feel about the product or service, focus on the big picture, and use
facts and figures to demonstrate what is possible. High responsiveness
and high assertiveness
◉ Consultative selling. Answer: Sales approach where the seller
becomes a trusted advisor to the customer and builds a relationship to
truly understand his or her needs
◉ Customer lifetime value (CLV). Answer: A prediction of the net
profit attributed to the entire future relationship with a customer
