D174 Marketing Management WGU / Questions & Expertly Verified Answers,
2025 / 2026.
Sustainability - Answer: balancing business needs and social needs over the long term and doing the right thing.Triple Bottom Line - Answer: recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth one-to-one marketing - Answer: an individualized marketing method that utilizes customer information to build long-term, personalized, and profitable relationships with each customer relationship orientation - Answer: driven by the realization that it is far more efficient and effective to invest in keeping and cultivating profitable current customers instead of constantly having to invest in gaining new customers that come with unknown ROI customer orientation - Answer: a company objective based on the premise that the firm should measure itself primarily according to whether it meets its customers' needs differentiation orientation - Answer: What clearly distinguishes your products from those of competitors in the minds of customers.-Communicating and delivering value in different ways to different customer groups Market Orientation - Answer: business focuses on the market; responds to customer's needs & wants 1 / 4
Product Orientation - Answer: business focues on the product; develops goods based on what it's good at doing marketing ethics - Answer: societal & professional standard of right & fair practices that are expected of marketing managers in their oversight of strategy formulation, implementation, and control Form Utility - Answer: created by marketing when raw materials are transformed into a final product to meet a market need Time Utility - Answer: created by marketing when a product available when needed or desired Ownership Utility - Answer: created by marketing when a product is exchanged with customer place utility - Answer: created by marketing when product is available at a convenient location value proposition - Answer: the whole bundle of benefits a company promises to deliver to the customer, not just the benefits of the product itself.Porter's Value Chain Model- Support Activities - Answer: 1. Firm's Infrastructure (accounting, finance, management)
- Human Resources Management
- Product & Technology Development (R&D)
- Procurement
Porter's Value Chain Model- Primary Activities - Answer: 1. Inbound logistics (inputs) 2 / 4
- Operations (manufacturing and testing)
- Outbound logistics (storage and distribution)
- Marketing and sales
- After-sales service
- situational analysis - SWOT
- Perform any needed market research
- Establish marketing goals & objectives
- Develop marketing strategies
- Develop implementation plans
- Provide for contingency planning
Marketing Planning - Answer: 1. marketing plan must be connected to firm's business plan
market-driven strategic planning - Answer: The process at the corporate or strategic business unit (SBU) level of a firm that acts to marshal the various resource and functional areas toward a central purpose around the customer.Strategic Business Unit (SBU) - Answer: a relatively autonomous division or organizational unit of a large company that operates independently but within the corporate umbrella, exercising control over most of the factors affecting its long-term performance.BCG Matrix: Stars - Answer: High growth/High Postition -important to building the future of the business -deserving any needed investment -Will eventually become a cash cow BCG Matrix: Cash Cows - Answer: Low growth/high position 3 / 4
key source of internal cash generation for the firm BCG Matrix: Dogs - Answer: low growth/low position potential high cash users & prime candidates for liquidation BCG Matrix: ?/Problem Child - Answer: high growth/low position high cash needs that, if nurtured properly, can convert into stars GE Business Screen - Answer: A method of evaluating businesses along two dimensions: (1) industry attractiveness and (2) competitive position; in general, the more attractive the industry and the more competitive the position, the more an organization should invest in a business
cost leadership strategy - Answer: lower cost
broad target
cost-focus strategy - Answer: lower cost
narrow target
differentiation strategy - Answer: differentiated
broad target
focused differentiation strategy - Answer: differentiated
narrow target Prospector (Miles and Snow) - Answer: firm exhibits continual innovation by finding & exploiting new product & market opportunities
- / 4