WGU D077 Concepts in Marketing Sales and
Customer Contact Exam 214 Questions with
Verified Answers
the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large. - CORRECT ANSWER Marketing
business philosophy that holds that long-term profitability is best achieved
satisfying the needs of a particular target customer, or market segment(s). -
CORRECT ANSWER Marketing concept
four components are called the "Four Ps" of marketing- Product, Price,
Place ,Promotion - CORRECT ANSWER Marketing Mix
Introduction, Growth, Maturity, Decline - CORRECT ANSWER 4 Product Life Cycle
stages
The complete range of products offered for sale by a company throughout its
product lines, also known as the product assortment - CORRECT ANSWER Product
Mix
Series of similar products focused on a sector that a company creates under a
single brand - CORRECT ANSWER Product Lines
,Number of versions offered for each product in the product line - CORRECT
ANSWER Product Depth
Physical product offering manufactured by a business - CORRECT ANSWER
Products
Intangible product offering by a business - CORRECT ANSWER Services
The amount gained by a company, calculated by the difference between the
amount earned from the sale of products and the total cost to produce them and
sell them in the market - CORRECT ANSWER Profit
Income a company receives from the sale of goods or services - CORRECT
ANSWER Revenue
Pricing a new product high to increase profits - CORRECT ANSWER Price skimming
Pricing products below normal markup or at cost to attract customers to a store
where they would not normally shop - CORRECT ANSWER Leader pricing
Pricing a new product lower than the perceived market price to attract market
share - CORRECT ANSWER Penetration pricing
Grouping related products together to encourage customers to buy both -
CORRECT ANSWER Bundling
, Raising the price of a product to increase the perception of its value - CORRECT
ANSWER Prestige pricing
Setting the price of a product according to the price of competitive products -
CORRECT ANSWER Competitive pricing
Websites and applications where users can create, share, and communicate with
others in social networks - CORRECT ANSWER Social media
All of a company's marketing efforts that use an electronic device or the Internet -
CORRECT ANSWER Digital media
Element of the marketing mix involving methods for informing and influencing
customers to buy a product, including traditional advertising, sales promotion,
public relations, personal selling, and digital marketing - CORRECT ANSWER
Promotion
Marketing activities such as coupons that provide a direct incentive for the
customer to make an immediate purchase of the product - CORRECT ANSWER
sales promotion
The practice of creating and maintaining public goodwill through publicity and
nonpaid forms of communication - CORRECT ANSWER Public relations
Promotion through the creation and sharing of messages and materials designed
to stimulate interest in a product - CORRECT ANSWER Content marketing
Customer Contact Exam 214 Questions with
Verified Answers
the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large. - CORRECT ANSWER Marketing
business philosophy that holds that long-term profitability is best achieved
satisfying the needs of a particular target customer, or market segment(s). -
CORRECT ANSWER Marketing concept
four components are called the "Four Ps" of marketing- Product, Price,
Place ,Promotion - CORRECT ANSWER Marketing Mix
Introduction, Growth, Maturity, Decline - CORRECT ANSWER 4 Product Life Cycle
stages
The complete range of products offered for sale by a company throughout its
product lines, also known as the product assortment - CORRECT ANSWER Product
Mix
Series of similar products focused on a sector that a company creates under a
single brand - CORRECT ANSWER Product Lines
,Number of versions offered for each product in the product line - CORRECT
ANSWER Product Depth
Physical product offering manufactured by a business - CORRECT ANSWER
Products
Intangible product offering by a business - CORRECT ANSWER Services
The amount gained by a company, calculated by the difference between the
amount earned from the sale of products and the total cost to produce them and
sell them in the market - CORRECT ANSWER Profit
Income a company receives from the sale of goods or services - CORRECT
ANSWER Revenue
Pricing a new product high to increase profits - CORRECT ANSWER Price skimming
Pricing products below normal markup or at cost to attract customers to a store
where they would not normally shop - CORRECT ANSWER Leader pricing
Pricing a new product lower than the perceived market price to attract market
share - CORRECT ANSWER Penetration pricing
Grouping related products together to encourage customers to buy both -
CORRECT ANSWER Bundling
, Raising the price of a product to increase the perception of its value - CORRECT
ANSWER Prestige pricing
Setting the price of a product according to the price of competitive products -
CORRECT ANSWER Competitive pricing
Websites and applications where users can create, share, and communicate with
others in social networks - CORRECT ANSWER Social media
All of a company's marketing efforts that use an electronic device or the Internet -
CORRECT ANSWER Digital media
Element of the marketing mix involving methods for informing and influencing
customers to buy a product, including traditional advertising, sales promotion,
public relations, personal selling, and digital marketing - CORRECT ANSWER
Promotion
Marketing activities such as coupons that provide a direct incentive for the
customer to make an immediate purchase of the product - CORRECT ANSWER
sales promotion
The practice of creating and maintaining public goodwill through publicity and
nonpaid forms of communication - CORRECT ANSWER Public relations
Promotion through the creation and sharing of messages and materials designed
to stimulate interest in a product - CORRECT ANSWER Content marketing
