WGU D077 Exam 2023/ 108 Questions and
Answers/ updated.
The role of marketing in a firm's business strategy. - -The role of the company's
marketing department is to ensure that the company and its products provide value to
the customers it wants to attract.
-Name the 6 steps in the sales process - -Prospecting and Qualifying
Approaching customers
Presenting and demonstrating the product
Handling objections
Closing
Following up
-Product Life Cycle Introductory: - -Low sales, Little or no profit, Often little to no
competition
-Initiators - -Individuals at an organization who suggest purchasing a product or
service
-Buyers - -who are responsible for the contract
-organizational buying participants. - -Initiators
Deciders
Buyers
End users
Gatekeepers
, -Deciders - -Individual(s) at an organization making the final purchase decision, often
the person who owns the budget
-Five Phases of Negotiation - --Investigation information gathering
-Determine-thinking through your desired outcome
-Presentation-assemble the information
-Bargaining-parties discuss their goals
-Closure-come to an agreement
-Influencers - -Individuals at an organization who affect a purchase decision,
sometimes brought into the buying process to provide technical expertise
-Gatekeepers - -Individuals at an organization who control the flow of information to
and among others within the buying center; often administrative professionals
-End users - -Individuals at an organization who will use the product or service to be
purchased
-Negotiation Strategies - -Distributive: Divide the pie (win-lose)
Integrative: Collaborate to expand the pie (win-win)
Inductive: Start with details
Deductive: Start with the big picture
Mixed: Focus on key details and big picture items
-Define Marketing - -Marketing includes the way companies put together product
offerings, price them, communicate with customers, and get products from producers to
the customer.
-Tactical marketing - -includes specific actions, such as advertising, to execute a
marketing strategy.
Answers/ updated.
The role of marketing in a firm's business strategy. - -The role of the company's
marketing department is to ensure that the company and its products provide value to
the customers it wants to attract.
-Name the 6 steps in the sales process - -Prospecting and Qualifying
Approaching customers
Presenting and demonstrating the product
Handling objections
Closing
Following up
-Product Life Cycle Introductory: - -Low sales, Little or no profit, Often little to no
competition
-Initiators - -Individuals at an organization who suggest purchasing a product or
service
-Buyers - -who are responsible for the contract
-organizational buying participants. - -Initiators
Deciders
Buyers
End users
Gatekeepers
, -Deciders - -Individual(s) at an organization making the final purchase decision, often
the person who owns the budget
-Five Phases of Negotiation - --Investigation information gathering
-Determine-thinking through your desired outcome
-Presentation-assemble the information
-Bargaining-parties discuss their goals
-Closure-come to an agreement
-Influencers - -Individuals at an organization who affect a purchase decision,
sometimes brought into the buying process to provide technical expertise
-Gatekeepers - -Individuals at an organization who control the flow of information to
and among others within the buying center; often administrative professionals
-End users - -Individuals at an organization who will use the product or service to be
purchased
-Negotiation Strategies - -Distributive: Divide the pie (win-lose)
Integrative: Collaborate to expand the pie (win-win)
Inductive: Start with details
Deductive: Start with the big picture
Mixed: Focus on key details and big picture items
-Define Marketing - -Marketing includes the way companies put together product
offerings, price them, communicate with customers, and get products from producers to
the customer.
-Tactical marketing - -includes specific actions, such as advertising, to execute a
marketing strategy.
