WGU D077 Study Guide Exam Questions and Answers
(Latest Update 2023) Verified Answers (155qs)
coordinating the promotion mix elements and synchronizing promotion as a
unified effort – Correct Answers ✅Integrated Marketing Communications
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. – Correct Answers
✅Marketing
Product, Place, Price, Promotion – Correct Answers ✅Marketing Mix (4 P’s)
describes the stages a new product goes through in the marketplace:
introduction, growth, maturity, and decline – Correct Answers ✅Product Life
Cycle
Low sales, Little or no profit, and Often little to no competition – Correct
Answers ✅The Introduction stage of the product life cycle is characterized
by
WGU D077 Study Guide Exam Questions and Answers
(Latest Update 2023) Verified Answers (155qs)
Increasing sales, Rapidly increasing profits, Market has accepted the product
and competitors begin to enter the market – Correct Answers ✅The growth
stage of the product life cycle is characterized by
High Sales, High then declining profits, High level of competition, may be
difficult for original company to compete – Correct Answers ✅The maturity
stage of the product life cycle is characterized by
Declining Sales, Declining Profit, and Competitive pressure remains high and
demand falls – Correct Answers ✅The decline stage of the product life cycle
is characterized by
The complete range of products offered for sale by a company throughout its
product lines, also known as the product assortment – Correct Answers
✅product mix
Series of similar products focused on a sector that a company creates under
a single brand – Correct Answers ✅product lines
WGU D077 Study Guide Exam Questions and Answers
(Latest Update 2023) Verified Answers (155qs)
Number of versions offered for each product in the product line – Correct
Answers ✅product depth
The number of different product lines, or series of products a company
offers – Correct Answers ✅product width
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) –
Correct Answers ✅price skimming
Intentionally pricing a product lower than the market price to gain market
share in a new market (Pricing Strategy) – Correct Answers ✅penetration
pricing
Pricing products below market price to attract customers to a store where
they would not otherwise shop (Pricing Strategy) – Correct Answers ✅leader
pricing
WGU D077 Study Guide Exam Questions and Answers
(Latest Update 2023) Verified Answers (155qs)
Raising the price of a product to increase the perception of its value (Pricing
Strategy) – Correct Answers ✅prestige pricing
Grouping related products together and pricing them as a single product.
(Pricing Strategy) – Correct Answers ✅Bundling
Setting the price for a product or service relative to competitors (Pricing
Strategy) – Correct Answers ✅Competitive pricing
Any paid form of nonpersonal promotion by an identified sponsor – Correct
Answers ✅Advertising
A face-to-face presentation to a prospective buyer, often based on long-term
relationships. – Correct Answers ✅Personal selling
Marketing activities that stimulate consumer buying, including coupons and
samples, displays, shows and exhibitions, and demonstrations. – Correct
Answers ✅Sales promotion