WGU D077 ConCepts
in
marketinG,sales,
anD CUstomer
ContaCt exam
With qUestion anD
CorreCt ansWers
,B2B sales - correct answer-Sales to another company that consumes the product or services as part of
operating the business or uses the product in the assembly of the final product it sells to consumers
Bait and switch - correct answer-Fraudulent practice where an advertised product is unavailable so a
customer is guided to a more expensive one
Bargaining power of buyers - correct answer-One of Porter's Five Forces—the power of customers to
drive down prices if supply exceeds demand
Bargaining power of suppliers - correct answer-One of Porter's Five Forces—the power of suppliers when
there are few alternative sources for the products' components
Bargaining - correct answer-The fourth phase in the negotiation process, where the parties seek an
agreement
BCG Matrix - correct answer-Planning tool which uses a quadrant to map the strategic position of a
business brand based on the brand's market share and the market's growth potential
behavioral observation - correct answer-Primary marketing research technique involving formal or
informal observation of customers and noncustomers
boycott - correct answer-Voluntary and intentional refusal to buy products from a certain person,
company, or country for ethical or political reasons
brand equity - correct answer-One of the drivers of customer equity, based on how the customer
assesses the value of the brand
brand loyalty - correct answer-The faithfulness of customer's to a particular company and its products
brand - correct answer-The unique identity and associations of a company, often captured in a design,
sign, symbol, or words that identify a product and differentiate it from competitors
Bundling - correct answer-Grouping related products together and pricing them as a single product.
business cycle - correct answer-Expansions and contractions in the level of economic activities (business
fluctuations) around a long-term growth trend
business to business (B2B) - correct answer-Sales to another company that consumes the product or
services as part of operating the business or uses the product in the assembly of the final product it sells
to consumers
business to consumer (B2C) - correct answer-Sales directly to the individuals who consume a finished
product
business-to-business (B2B) - correct answer-Sales to another company that consumes the product or
services as part of operating the business or uses the product in the assembly of the final product it sells
to consumers
business-to-consumer (B2C) - correct answer-Sales directly to the individuals who consume a finished
product for personal use
,Buyers - correct answer-Individuals at an organization who are responsible for the purchase contract,
often a purchasing department
buying center - correct answer-Group of decision makers for a purchase by an organization
Channel conflict - correct answer-When a company sells products directly to consumers, in competition
with the company's own channel partners
Closed-ended questions - correct answer-Questions where a researcher provides a set of options from
which to choose a response, also called structured questions
Closure - correct answer-The final phase of negotiation, where an agreement is reached or the
negotiation fails
cognitive dissonance - correct answer-Mental discomfort triggered by holding two or more contradictory
beliefs, ideas, or values
Collaboration - correct answer-Style of handling conflict with high concern for both empathy and self-
interest
Competition - correct answer-Style of handling conflict focused on self-interest over empathy
Competitive pricing strategy - correct answer-Setting the price for a product or service relative to
competitors
Compromise - correct answer-Middle-ground style of handling conflict
Concentrated marketing - correct answer-Targeting strategy that focuses on a very limited, specific
segment(s) of the market, also called niche marketing
consultative selling - correct answer-Sales approach where the seller becomes a trusted advisor to the
customer and builds a relationship to truly understand her needs
consumer behavior - correct answer-The study of individuals, groups, or organizations and all the
activities associated with the purchase, use, and disposal of goods and services
consumer confidence - correct answer-Statistical measure of consumers' level of optimism about current
and future economic conditions
Consumer involvement - correct answer-Level of consumer interest, search, or complex decision-making
consumer - correct answer-The user of a purchased product or service
consumers - correct answer-The user of a purchased product or service
Content marketing - correct answer-Promotion through the creation and sharing of messages and
materials designed to stimulate interest in a product
contractual vertical marketing system - correct answer-Cooperation between levels of a distribution
channel as described by a formal agreement
cookies - correct answer-A small packet of information stored on your web browser to help a website
keep track of your visits and activity
, Corporate Social Responsibility (CSR) - correct answer-Way of conducting business with commitment to
the values, norms, and expectations of society for social responsibility
corporate vertical marketing system - correct answer-Ownership by a single company of all levels of
production and distribution
culture - correct answer-The customs, arts, social institutions, beliefs, and value systems of a particular
people, nation, or social group
customer equity - correct answer-The combined customer lifetime values of all the company's customers
customer life cycle - correct answer-The steps in the customer relationship with a company, from initial
contact to loyalty
Customer lifetime value - correct answer-The total profit a company expects to gain from a customer
throughout the relationship
Customer relationship management (CRM) - correct answer-Processes implemented by a company to
handle its contact with customers with the goal of creating a unified customer experience to maximize
retention
customer satisfaction - correct answer-A measure of how products or services delivered by a company
meet or exceed customer expectations
customer - correct answer-The purchaser of a product or service
customers - correct answer-The purchasers of a good or service
Database marketing organizations - correct answer-Companies (also known as customer insights service
providers) that collect and analyze massive data sets on consumers which can be used as secondary data
for marketing research
deception - correct answer-Hiding the truth, especially to get an advantage
Deciders - correct answer-Individual(s) at an organization making the final purchase decision, often the
person who owns the budget
deductive - correct answer-Negotiating by beginning with the big picture then turning to details
Demographic segmentation - correct answer-Dividing the market into subgroups based on demographic
data such as age, education, gender, or income
Determining Your Desired Outcome - correct answer-The second phase in the negotiation process, where
you define what you would like to get from the negotiation, also called a Best Alternative to a Negotiated
Agreement (BATNA)
differentiated marketing - correct answer-Targeting strategy where a company provides separate
offerings to each different market segment that it targets
in
marketinG,sales,
anD CUstomer
ContaCt exam
With qUestion anD
CorreCt ansWers
,B2B sales - correct answer-Sales to another company that consumes the product or services as part of
operating the business or uses the product in the assembly of the final product it sells to consumers
Bait and switch - correct answer-Fraudulent practice where an advertised product is unavailable so a
customer is guided to a more expensive one
Bargaining power of buyers - correct answer-One of Porter's Five Forces—the power of customers to
drive down prices if supply exceeds demand
Bargaining power of suppliers - correct answer-One of Porter's Five Forces—the power of suppliers when
there are few alternative sources for the products' components
Bargaining - correct answer-The fourth phase in the negotiation process, where the parties seek an
agreement
BCG Matrix - correct answer-Planning tool which uses a quadrant to map the strategic position of a
business brand based on the brand's market share and the market's growth potential
behavioral observation - correct answer-Primary marketing research technique involving formal or
informal observation of customers and noncustomers
boycott - correct answer-Voluntary and intentional refusal to buy products from a certain person,
company, or country for ethical or political reasons
brand equity - correct answer-One of the drivers of customer equity, based on how the customer
assesses the value of the brand
brand loyalty - correct answer-The faithfulness of customer's to a particular company and its products
brand - correct answer-The unique identity and associations of a company, often captured in a design,
sign, symbol, or words that identify a product and differentiate it from competitors
Bundling - correct answer-Grouping related products together and pricing them as a single product.
business cycle - correct answer-Expansions and contractions in the level of economic activities (business
fluctuations) around a long-term growth trend
business to business (B2B) - correct answer-Sales to another company that consumes the product or
services as part of operating the business or uses the product in the assembly of the final product it sells
to consumers
business to consumer (B2C) - correct answer-Sales directly to the individuals who consume a finished
product
business-to-business (B2B) - correct answer-Sales to another company that consumes the product or
services as part of operating the business or uses the product in the assembly of the final product it sells
to consumers
business-to-consumer (B2C) - correct answer-Sales directly to the individuals who consume a finished
product for personal use
,Buyers - correct answer-Individuals at an organization who are responsible for the purchase contract,
often a purchasing department
buying center - correct answer-Group of decision makers for a purchase by an organization
Channel conflict - correct answer-When a company sells products directly to consumers, in competition
with the company's own channel partners
Closed-ended questions - correct answer-Questions where a researcher provides a set of options from
which to choose a response, also called structured questions
Closure - correct answer-The final phase of negotiation, where an agreement is reached or the
negotiation fails
cognitive dissonance - correct answer-Mental discomfort triggered by holding two or more contradictory
beliefs, ideas, or values
Collaboration - correct answer-Style of handling conflict with high concern for both empathy and self-
interest
Competition - correct answer-Style of handling conflict focused on self-interest over empathy
Competitive pricing strategy - correct answer-Setting the price for a product or service relative to
competitors
Compromise - correct answer-Middle-ground style of handling conflict
Concentrated marketing - correct answer-Targeting strategy that focuses on a very limited, specific
segment(s) of the market, also called niche marketing
consultative selling - correct answer-Sales approach where the seller becomes a trusted advisor to the
customer and builds a relationship to truly understand her needs
consumer behavior - correct answer-The study of individuals, groups, or organizations and all the
activities associated with the purchase, use, and disposal of goods and services
consumer confidence - correct answer-Statistical measure of consumers' level of optimism about current
and future economic conditions
Consumer involvement - correct answer-Level of consumer interest, search, or complex decision-making
consumer - correct answer-The user of a purchased product or service
consumers - correct answer-The user of a purchased product or service
Content marketing - correct answer-Promotion through the creation and sharing of messages and
materials designed to stimulate interest in a product
contractual vertical marketing system - correct answer-Cooperation between levels of a distribution
channel as described by a formal agreement
cookies - correct answer-A small packet of information stored on your web browser to help a website
keep track of your visits and activity
, Corporate Social Responsibility (CSR) - correct answer-Way of conducting business with commitment to
the values, norms, and expectations of society for social responsibility
corporate vertical marketing system - correct answer-Ownership by a single company of all levels of
production and distribution
culture - correct answer-The customs, arts, social institutions, beliefs, and value systems of a particular
people, nation, or social group
customer equity - correct answer-The combined customer lifetime values of all the company's customers
customer life cycle - correct answer-The steps in the customer relationship with a company, from initial
contact to loyalty
Customer lifetime value - correct answer-The total profit a company expects to gain from a customer
throughout the relationship
Customer relationship management (CRM) - correct answer-Processes implemented by a company to
handle its contact with customers with the goal of creating a unified customer experience to maximize
retention
customer satisfaction - correct answer-A measure of how products or services delivered by a company
meet or exceed customer expectations
customer - correct answer-The purchaser of a product or service
customers - correct answer-The purchasers of a good or service
Database marketing organizations - correct answer-Companies (also known as customer insights service
providers) that collect and analyze massive data sets on consumers which can be used as secondary data
for marketing research
deception - correct answer-Hiding the truth, especially to get an advantage
Deciders - correct answer-Individual(s) at an organization making the final purchase decision, often the
person who owns the budget
deductive - correct answer-Negotiating by beginning with the big picture then turning to details
Demographic segmentation - correct answer-Dividing the market into subgroups based on demographic
data such as age, education, gender, or income
Determining Your Desired Outcome - correct answer-The second phase in the negotiation process, where
you define what you would like to get from the negotiation, also called a Best Alternative to a Negotiated
Agreement (BATNA)
differentiated marketing - correct answer-Targeting strategy where a company provides separate
offerings to each different market segment that it targets
