WGU D077 STUDY GUIDE EXAM QUESTIONS AND ANSWERS
Integrated Marketing Communications - CORRECT ANSWER✅✅coordinating the promotion mix
elements and synchronizing promotion as a unified effort
Marketing - CORRECT ANSWER✅✅The Activity, set of institutions, and process for creating,
communicating, delivering and exchanging offerings that have value for consumers. Also a business
function that identifies, satisfies, and retains customers through a set of activities related to creating,
communicating, delivering, and exchanging offerings that have value for the customer.
Marketing Mix (4 P's) - CORRECT ANSWER✅✅Product, Place, Price, Promotion
Product Life Cycle - CORRECT ANSWER✅✅describes the stages a new product goes through in the
marketplace: introduction, growth, maturity, and decline
The Introduction stage of the product life cycle is characterized by - CORRECT ANSWER✅✅Low sales,
Little or no profit, and Often little to no competition
The growth stage of the product life cycle is characterized by - CORRECT ANSWER✅✅Increasing sales,
Rapidly increasing profits, Market has accepted the product and competitors begin to enter the market
The maturity stage of the product life cycle is characterized by - CORRECT ANSWER✅✅High Sales, High
then declining profits, High level of competition, may be difficult for original company to compete
The decline stage of the product life cycle is characterized by - CORRECT ANSWER✅✅Declining Sales,
Declining Profit, and Competitive pressure remains high and demand falls
product mix - CORRECT ANSWER✅✅The complete range of products offered for sale by a company
throughout its product lines, also known as the product assortment
product lines - CORRECT ANSWER✅✅Series of similar products focused on a sector that a company
creates under a single brand
,product depth - CORRECT ANSWER✅✅Number of versions offered for each product in the product line
product width - CORRECT ANSWER✅✅The number of different product lines, or series of products a
company offers
price skimming - CORRECT ANSWER✅✅Intentionally pricing a new product offering high with the
intention of lowering it over time as competition grows, particularly in the case of a unique offering with
little or no competition at the outset (Pricing Strategy)
penetration pricing - CORRECT ANSWER✅✅Intentionally pricing a product lower than the market price
to gain market share in a new market (Pricing Strategy)
leader pricing - CORRECT ANSWER✅✅Pricing products below market price to attract customers to a
store where they would not otherwise shop (Pricing Strategy)
prestige pricing - CORRECT ANSWER✅✅Raising the price of a product to increase the perception of its
value (Pricing Strategy)
Bundling - CORRECT ANSWER✅✅Grouping related products together and pricing them as a single
product. (Pricing Strategy)
Competitive pricing - CORRECT ANSWER✅✅Setting the price for a product or service relative to
competitors (Pricing Strategy)
Advertising - CORRECT ANSWER✅✅Any paid form of nonpersonal promotion by an identified sponsor
Personal selling - CORRECT ANSWER✅✅A face-to-face presentation to a prospective buyer, often based
on long-term relationships.
Sales promotion - CORRECT ANSWER✅✅Marketing activities that stimulate consumer buying, including
coupons and samples, displays, shows and exhibitions, and demonstrations.
, Public relations - CORRECT ANSWER✅✅The linking of organizational goals with key aspects of the
public interest and the development of programs designed to earn public understanding and
acceptance. Public relations can include lobbying, publicity, special events, internal publications, and
media such as a company's internal television channel.
Social media - CORRECT ANSWER✅✅The use of social media platforms such as Facebook, Twitter,
Pinterest, Instagram, and various blogs to generate "buzz" about a product or company.
E-commerce - CORRECT ANSWER✅✅The use of a company's website to generate sales through online
ordering, information, interactive components such as games, and other elements of the website.
Online advertising - CORRECT ANSWER✅✅The use of the internet to advertise is a form of promotion
that comes in many forms including online banner ads, pop-up ads, video advertisements, etc.
Content marketing - CORRECT ANSWER✅✅A subset of digital marketing, content marketing involves
the creation and sharing of online material designed to create interest in a product, service, or idea
without directly promoting the brand.8
Guerilla marketing - CORRECT ANSWER✅✅Marketing communication that is generally experiential and
often involves unconventional, innovative, and usually low-cost marketing tactics to engage consumers
in the marketing activity, generate attention, and achieve maximum exposure for an organization, its
products, and services.
Omni-channel - CORRECT ANSWER✅✅Unified and consistent communication with customers across all
channels a company employs
place strategy - CORRECT ANSWER✅✅Strategy to get the right product/service to the right place at the
right time.
Direct distribution - CORRECT ANSWER✅✅when products are sold from producers to end users and
consumers. (Type of Distribution)
Integrated Marketing Communications - CORRECT ANSWER✅✅coordinating the promotion mix
elements and synchronizing promotion as a unified effort
Marketing - CORRECT ANSWER✅✅The Activity, set of institutions, and process for creating,
communicating, delivering and exchanging offerings that have value for consumers. Also a business
function that identifies, satisfies, and retains customers through a set of activities related to creating,
communicating, delivering, and exchanging offerings that have value for the customer.
Marketing Mix (4 P's) - CORRECT ANSWER✅✅Product, Place, Price, Promotion
Product Life Cycle - CORRECT ANSWER✅✅describes the stages a new product goes through in the
marketplace: introduction, growth, maturity, and decline
The Introduction stage of the product life cycle is characterized by - CORRECT ANSWER✅✅Low sales,
Little or no profit, and Often little to no competition
The growth stage of the product life cycle is characterized by - CORRECT ANSWER✅✅Increasing sales,
Rapidly increasing profits, Market has accepted the product and competitors begin to enter the market
The maturity stage of the product life cycle is characterized by - CORRECT ANSWER✅✅High Sales, High
then declining profits, High level of competition, may be difficult for original company to compete
The decline stage of the product life cycle is characterized by - CORRECT ANSWER✅✅Declining Sales,
Declining Profit, and Competitive pressure remains high and demand falls
product mix - CORRECT ANSWER✅✅The complete range of products offered for sale by a company
throughout its product lines, also known as the product assortment
product lines - CORRECT ANSWER✅✅Series of similar products focused on a sector that a company
creates under a single brand
,product depth - CORRECT ANSWER✅✅Number of versions offered for each product in the product line
product width - CORRECT ANSWER✅✅The number of different product lines, or series of products a
company offers
price skimming - CORRECT ANSWER✅✅Intentionally pricing a new product offering high with the
intention of lowering it over time as competition grows, particularly in the case of a unique offering with
little or no competition at the outset (Pricing Strategy)
penetration pricing - CORRECT ANSWER✅✅Intentionally pricing a product lower than the market price
to gain market share in a new market (Pricing Strategy)
leader pricing - CORRECT ANSWER✅✅Pricing products below market price to attract customers to a
store where they would not otherwise shop (Pricing Strategy)
prestige pricing - CORRECT ANSWER✅✅Raising the price of a product to increase the perception of its
value (Pricing Strategy)
Bundling - CORRECT ANSWER✅✅Grouping related products together and pricing them as a single
product. (Pricing Strategy)
Competitive pricing - CORRECT ANSWER✅✅Setting the price for a product or service relative to
competitors (Pricing Strategy)
Advertising - CORRECT ANSWER✅✅Any paid form of nonpersonal promotion by an identified sponsor
Personal selling - CORRECT ANSWER✅✅A face-to-face presentation to a prospective buyer, often based
on long-term relationships.
Sales promotion - CORRECT ANSWER✅✅Marketing activities that stimulate consumer buying, including
coupons and samples, displays, shows and exhibitions, and demonstrations.
, Public relations - CORRECT ANSWER✅✅The linking of organizational goals with key aspects of the
public interest and the development of programs designed to earn public understanding and
acceptance. Public relations can include lobbying, publicity, special events, internal publications, and
media such as a company's internal television channel.
Social media - CORRECT ANSWER✅✅The use of social media platforms such as Facebook, Twitter,
Pinterest, Instagram, and various blogs to generate "buzz" about a product or company.
E-commerce - CORRECT ANSWER✅✅The use of a company's website to generate sales through online
ordering, information, interactive components such as games, and other elements of the website.
Online advertising - CORRECT ANSWER✅✅The use of the internet to advertise is a form of promotion
that comes in many forms including online banner ads, pop-up ads, video advertisements, etc.
Content marketing - CORRECT ANSWER✅✅A subset of digital marketing, content marketing involves
the creation and sharing of online material designed to create interest in a product, service, or idea
without directly promoting the brand.8
Guerilla marketing - CORRECT ANSWER✅✅Marketing communication that is generally experiential and
often involves unconventional, innovative, and usually low-cost marketing tactics to engage consumers
in the marketing activity, generate attention, and achieve maximum exposure for an organization, its
products, and services.
Omni-channel - CORRECT ANSWER✅✅Unified and consistent communication with customers across all
channels a company employs
place strategy - CORRECT ANSWER✅✅Strategy to get the right product/service to the right place at the
right time.
Direct distribution - CORRECT ANSWER✅✅when products are sold from producers to end users and
consumers. (Type of Distribution)
