WGU C201 | Business Acumen | Chapter 11
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Marketing - CORRECT ANSWER Organizational function and set of processes for creating,
communicating, and delivering value to customers and for managing customer relationships in
ways that benefit the organization and its stakeholders.
How marketing creates utility - CORRECT ANSWER Marketing creates the "want satisfying
power" of goods and services by researching what will provide form utility, time, place, or
ownership utility.
Eras of marketing - CORRECT ANSWER Marketing has evolved from the production era, to
the sales era, followed by the marketing era, and the current stage, the relationship era.
Emergence of the marketing concept - CORRECT ANSWER Company wide customer
orientation with the objective of achieving long-run success. The basic idea of the marketing
concept is that marketplace success begins with the customer. A firm should analyze each
customer's needs and then work backward to offer products that fulfill them.
Not-for-profit marketing - CORRECT ANSWER Both public and private not-for-profit
organizations employ marketing strategies to reach audiences, secure funding, improve their
images, and accomplish their overall missions.
Nontraditional marketing - CORRECT ANSWER Person, place, event, cause, and
organization marketing are examples of marketing efforts that go beyond traditional product-
oriented appeals.They are used primarily by the not-for-profit sector, but also have gained
increased use in private businesses.
Marketing strategy - CORRECT ANSWER A two-step process that begins with the study and
analysis of potential target markets. The second step is the creation of a marketing mix to satisfy
the chosen market.
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Marketing - CORRECT ANSWER Organizational function and set of processes for creating,
communicating, and delivering value to customers and for managing customer relationships in
ways that benefit the organization and its stakeholders.
How marketing creates utility - CORRECT ANSWER Marketing creates the "want satisfying
power" of goods and services by researching what will provide form utility, time, place, or
ownership utility.
Eras of marketing - CORRECT ANSWER Marketing has evolved from the production era, to
the sales era, followed by the marketing era, and the current stage, the relationship era.
Emergence of the marketing concept - CORRECT ANSWER Company wide customer
orientation with the objective of achieving long-run success. The basic idea of the marketing
concept is that marketplace success begins with the customer. A firm should analyze each
customer's needs and then work backward to offer products that fulfill them.
Not-for-profit marketing - CORRECT ANSWER Both public and private not-for-profit
organizations employ marketing strategies to reach audiences, secure funding, improve their
images, and accomplish their overall missions.
Nontraditional marketing - CORRECT ANSWER Person, place, event, cause, and
organization marketing are examples of marketing efforts that go beyond traditional product-
oriented appeals.They are used primarily by the not-for-profit sector, but also have gained
increased use in private businesses.
Marketing strategy - CORRECT ANSWER A two-step process that begins with the study and
analysis of potential target markets. The second step is the creation of a marketing mix to satisfy
the chosen market.
