WGU D077 CONCEPTS IN MAR KETING ,SALES AND
CUSTOMER CONTACT OA LATEST EXAM 2023-2024 REAL
EXAM 300+ QUESTIONS AND CORRECT ANSWERS \AGRADE
Positive, negative, or ambivalent evaluation of people, objects, event, activities, ideas, or anything else in the environment - ANSWER- attitudes
Characteristics that define a product and will influence the customer's purchase decision - ANSWER- attributes
Style of handling conflict with little empathy or self-interest - ANSWER- Avoidance
Planning tool which uses a quadrant to map the strategic position of a business brand based on the brand's market share and the market's growth potential - ANSWER- BCG Matrix
Voluntary and intentional refusal to buy products from a certain person, company, or country for ethical or political reasons - ANSWER- boycott
One of the drivers of customer equity, based on how the customer assesses the value of the brand - ANSWER- brand equity
The unique identity and associations of a company, often captured in a design, sign, symbol, or words that identify a product and differentiate it from competitors
- ANSWER- brand
Expansions and contractions in the level of economic activities (business fluctuations) around a long-term growth trend - ANSWER- business cycle
Sales to another company that consumes the product or services as part of operating the business or uses the product in the assembly of the final product it sells to consumers - ANSWER- business to business (B2B)
Sales directly to the individuals who consume a finished product for personal use - ANSWER- business-to-consumer (B2C) 1 / 4
Group of decision makers for a purchase by an organization - ANSWER- buying center
When a company sells products directly to consumers, in competition with the company's own channel partners - ANSWER- Channel conflict
Style of handling conflict with high concern for both empathy and self-interest - ANSWER- Collaboration
The study of individuals, groups, or organizations and all the activities associated with the purchase, use, and disposal of goods and services - ANSWER- consumer behavior
Statistical measure of consumers' level of optimism about current and future economic conditions - ANSWER- consumer confidence
The user of a purchased product or service - ANSWER- consumer
Promotion through the creation and sharing of messages and materials designed to stimulate interest in a product - ANSWER- Content marketing
Cooperation between levels of a distribution channel as described by a formal agreement - ANSWER- contractual vertical marketing system
Way of conducting business with commitment to the values, norms, and expectations of society for social responsibility - ANSWER- Corporate Social Responsibility (CSR)
Ownership by a single company of all levels of production and distribution - ANSWER- corporate vertical marketing system
The combined customer lifetime values of all the company's customers - ANSWER- customer equity
The steps in the customer relationship with a company, from initial contact to loyalty - ANSWER- customer life cycle
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Processes implemented by a company to handle its contact with customers with the goal of creating a unified customer experience to maximize retention - ANSWER- Customer relationship management (CRM)
A measure of how products or services delivered by a company meet or exceed customer expectations - ANSWER- customer satisfaction
The purchaser of a product or service - ANSWER- customer
Companies (also known as customer insights service providers) that collect and analyze massive data sets on consumers which can be used as secondary data for marketing research - ANSWER- Database marketing organizations
Hiding the truth, especially to get an advantage - ANSWER- deception
Individual(s) at an organization making the final purchase decision, often the person who owns the budget - ANSWER- Deciders
Targeting strategy where a company provides separate offerings to each different market segment that it targets - ANSWER- differentiated marketing
All of a company's marketing efforts that use an electronic device or the Internet - ANSWER- digital marketing
Sale of products from the producer to the end user without an intermediary - ANSWER- Direct distribution
Process of acquiring raw materials and moving materials and finished products from the producer to customers - ANSWER- Distribution
Buying and selling of goods and services over the Internet using websites and/or mobile applications - ANSWER- E-commerce
Human requirement to feel respected and valued by others as well as yourself - ANSWER- esteem needs
Type of consumer activism where ethical products are favored and unethical products or companies are avoided - ANSWER- Ethical consumerism
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Changes in behavior in response to direct experience; learning as a reflection on doing - ANSWER- experiential learning
People with this social style want to know "who" - ANSWER- expressive
Differences in outlook, opinions, values, and cultural norms between people of different generations - ANSWER- generation gaps
Dividing the market into sub-groups based on region or geographic characteristics
- ANSWER- Geographic segmentation
Physical product offering manufactured by a business - ANSWER- good
Sales approach using psychological pressure and insistent language to push a customer to a quick purchase decision - ANSWER- hard selling
Complex purchase decisions that are important to the consumer and involve some risk - ANSWER- high-involvement decisions
Process of implementing the marketing strategy through specific actions or tactics - ANSWER- Implementation
Targeted micromarketing focused on the needs of individuals, sometimes call mass customization or one-to-one marketing - ANSWER- individual marketing
General increase in prices of goods and services over time and decrease in the purchasing power of money - ANSWER- inflation
Information from within a company, such as sales and marketing records, that can be used for secondary data in marketing research - ANSWER- internal data
The initial phase in the negotiation process, where information is gathered - ANSWER- Investigation
Changes in behavior that result from previous experiences - ANSWER- learning
Human requirement for interpersonal relationships (family, friendships, intimacy) and feelings of belongingness - ANSWER- Love and belonging needs
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