Marketing, Sales, and Customer Contact - D077 WGU

Marketing, Sales, and Customer Contact - D077 WGU Leave the first rating Students also studied Terms in this set (232) Social SciencesBusinessMarketing Save

Unit 2: Marketing Planning Test

18 terms samcronnyPreview

Module 5: Customer Relationship M...

• terms

samcronnyPreview D077 WGU study set 194 terms maddie_garriott Preview

D774 -

121 terms eve PriceA realtor representing luxury condominiums offers pre-construction discounts to clients.Which part of the marketing mix does this approach represent?Price FixingA small town has two coffee shops. The shop owners agree to raise their prices for espresso drinks from $3 to $6 per cup because they are the only two shops in the market.Which illegal pricing tactic is being used?Customer PrivacyA fitness application allows users to opt-out of its fitness reminder text messages but continues to send text messages for 30 days following the opt-out period.Users are not notified of this fact when they opt-out of the text messages.Which ethical marketing practice is the company violating?ProductA retailer offers all customers complementary, eco-friendly gift wrapping to add value to their holiday purchases.Which element of the marketing mix does this ethical decision-making address?BCG MatrixA manager seeks to help the organization make good portfolio-management decisions.Which tool should the manager use for this process?

StarAccording to the logic of the BCG matrix, marketers should focus investment in the areas that will provide good returns and fund future growth.Which quadrant of the BCG matrix meets this guideline?Porter's Five Forces ModelA manager is considering the economics of an industry's factors that determine how competitive, attractive, and profitable the market is for the company's products.Which planning tool is being used by this manager?Marketing PlanA company analyzes its internal and external environments, identifies the needs of its target market, and develops a plan for accomplishing its mission, objectives, and goals.Which component of the marketing planning process has the company developed?Product-relatedA mobile phone carrier markets pricing plans to its customers differently depending on how much data the customers use each month.What type segmentation strategy is the mobile phone carrier using?DifferentiatedA consumer laundry detergent manufacturer makes several types of laundry detergents and wishes to create commercials for each of the products showcasing each product's strengths.What type of targeting strategy is being used by this consumer laundry detergent manufacturer?Problem and opportunity recognitionA marketer developed a makeup tutorial video using the company's new cosmetic line designed to diminish dark circles around the eyes.Which stage of the consumer decision-making process is the marketer seeking to achieve?NeedWhich personal influence is related to physiology, safety and security, love and belonging, esteem, or self-actualization?FamilyWhich interpersonal influence group is critically important as a consumer unit and has a major impact on attitude and behavior toward brands?LimitedA customer wants to purchase a novel for a flight that departs in less than an hour.The customer quickly searches for reviews to determine which book has the most positive ratings.What type of problem-solving is being used by this customer?Market PenetrationAn apparel company became the number-one provider in the U.S. New customers had switched to this company's clothing line instead of buying from competitors.Which strategic opportunity did the company use to achieve this goal?

Modified RebuyA sales representative calls on a company and is told, "We will order the same product and quantity that we ordered last month, but please have the product delivered to our western plant instead of our eastern plant." Which type of Business to Business (B2B) buying situation is this?TouchWhich types of points are blogs, wikis, and social media that companies use to build and sustain relationships with the customer?How rewards will be distributedWhat is one factor a company should consider when designing a team selling approach?A/B testingA marketing experiment where two variants of a campaign are tested to see which one is most effective AccommodationStyle of handling conflict focused on empathy over self-interest Using social styles to customize a sales approach to the specific customer Adaptive selling administered vertical marketing systemCooperation between levels of a distribution channel where one member sets the terms due to its size and influence advertisingPaid form of nonpersonal promotion amiablePeople with this social style want to know "why" analyticalPeople with this social style want to know "how" artificial intelligenceIntelligent machines (computers) capable of learning and interacting attitudesPositive, negative, or ambivalent evaluation of people, objects, event, activities, ideas, or anything else in the environment attributesCharacteristics that define a product and will influence the customer's purchase decision AvoidanceStyle of handling conflict with little empathy or self-interest B2B salesSales 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 Bait and switchFraudulent practice where an advertised product is unavailable so a customer is guided to a more expensive one BargainingThe fourth phase in the negotiation process, where the parties seek an agreement Bargaining power of buyersOne of Porter's Five Forces—the power of customers to drive down prices if supply exceeds demand

Bargaining power of suppliersOne of Porter's Five Forces—the power of suppliers when there are few alternative sources for the products' components BCG MatrixPlanning 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 behavioral observationPrimary marketing research technique involving formal or informal observation of customers and noncustomers boycottVoluntary and intentional refusal to buy products from a certain person, company, or country for ethical or political reasons brandThe 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 brand equityOne of the drivers of customer equity, based on how the customer assesses the value of the brand brand loyaltyThe faithfulness of customer's to a particular company and its products Bundling BundlingGrouping related products together and pricing them as a single product.business cycleExpansions and contractions in the level of economic activities (business fluctuations) around a long-term growth trend business to business (B2B)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 business to consumer (B2C)Sales directly to the individuals who consume a finished product BuyersIndividuals at an organization who are responsible for the purchase contract, often a purchasing department buying centerGroup of decision makers for a purchase by an organization Channel conflictWhen a company sells products directly to consumers, in competition with the company's own channel partners Closed-ended questionsQuestions where a researcher provides a set of options from which to choose a response, also called structured questions ClosureThe final phase of negotiation, where an agreement is reached or the negotiation fails cognitive dissonanceMental discomfort triggered by holding two or more contradictory beliefs, ideas, or values CollaborationStyle of handling conflict with high concern for both empathy and self-interest