WGU D174 - MARKETING MANAGEMENT QUESTIONS
What are two concepts of marketing? - Answers - Value - represents all benefits you
get from a product.
Exchange - the process of giving up something to gain something.
What are the 4P's of the marketing mix? - Answers - Product, Price, Place, Promotion
Triple Bottom Line - Answers - people, planet, profit
Utilty - Answers - The want satisfying power of a good or service
Form Utility - Answers - When raw materials are transformed into a final product to
meet a market need.
Time Utility - Answers - When products are available when needed or desired.
Ownership Utility - Answers - When product is exchanged with customer.
Place Utility - Answers - When a product is available at a convenient location.
What is a "value chain?" - Answers - Set of activities that an organization carries out to
create value for its customers.
Value Proposition - Answers - A bundle of benefits that are provided to a consumer
that extend beyond the product itself, such as quality, warranties, & services.
What are 6 ways emerging markets differ from developed markets? - Answers - 1. Per
capita income
2. Infrastructure
3. Demographics
4. Speed of change
5. Bureaucracy
6. Corruption
Consumer Decision Making Process - Answers - 1. Problem Recognition
2. Information Search
3. Alternative Evaluation
4. Purchase Decision
5. Post-Purchase Evaluation
CRM Process Cycle - Answers - 1. knowledge discovery
2. market planning
3. customer interaction
4. analysis and refinement
What are two concepts of marketing? - Answers - Value - represents all benefits you
get from a product.
Exchange - the process of giving up something to gain something.
What are the 4P's of the marketing mix? - Answers - Product, Price, Place, Promotion
Triple Bottom Line - Answers - people, planet, profit
Utilty - Answers - The want satisfying power of a good or service
Form Utility - Answers - When raw materials are transformed into a final product to
meet a market need.
Time Utility - Answers - When products are available when needed or desired.
Ownership Utility - Answers - When product is exchanged with customer.
Place Utility - Answers - When a product is available at a convenient location.
What is a "value chain?" - Answers - Set of activities that an organization carries out to
create value for its customers.
Value Proposition - Answers - A bundle of benefits that are provided to a consumer
that extend beyond the product itself, such as quality, warranties, & services.
What are 6 ways emerging markets differ from developed markets? - Answers - 1. Per
capita income
2. Infrastructure
3. Demographics
4. Speed of change
5. Bureaucracy
6. Corruption
Consumer Decision Making Process - Answers - 1. Problem Recognition
2. Information Search
3. Alternative Evaluation
4. Purchase Decision
5. Post-Purchase Evaluation
CRM Process Cycle - Answers - 1. knowledge discovery
2. market planning
3. customer interaction
4. analysis and refinement
