D373 Marketing in the Digital Era - Terms
Challenge Activity Exam QUESTIONS
AND CORRECT ANSWERS
4 Ps - CORRECT ANSWER also known as the "Marketing Mix," the 4 Ps was
introduced in 1960 as a marketing framework comprising product, price, place, and
promotion (Chapter 5)
ABLE Framework - CORRECT ANSWER designed to help companies create effective
marketing communications while simplifying the evaluation and creation process; there are
four components in the ABLE Framework: attention, benefit, linkage, and equity (Chapter 9)
activation - CORRECT ANSWER the execution of marketing after the planning
process (Chapter 8)
agile - CORRECT ANSWER a methodology to more efficiently and effectively
develop software products (Chapter 7)
augmented product - CORRECT ANSWER part of Philip Kotler's "5 Product Levels;"
a version of the product with additional features that differentiates it from the competition
(Chapter 7)
average order value - CORRECT ANSWER a metric companies strive to increase by
increasing the amount of customer spend resulting in increased revenue and profits (Chapter
5)
Awareness Stage - CORRECT ANSWER the first stage in the Buyer's Journey and
confirms that you have a need, problem, or opportunity (Chapter 8)
Bargaining Power of Customers - CORRECT ANSWER part of Michael Porter's "Five
Forces;" companies are always concerned with customers' ability and desire to purchase,
price sensitivity, and changing preferences, among others (Chapter 7)
, Bargaining Power of Suppliers - CORRECT ANSWER part of Michael Porter's "Five
Forces;" companies are typically reliant on other businesses in their supply chain who control
inputs and outputs potentially affecting results (Chapter 7)
big idea - CORRECT ANSWER an overarching concept that unifies a marketing
campaign and connects with the intended audience (Chapter 9)
brand - CORRECT ANSWER an identifiable and differentiated product, service,
person, movement, idea, etc. that is represented by associations including thoughts and
identity, among many others (Chapter 2)
brand advocate - CORRECT ANSWER a loyal customer who supports and promotes a
brand — sometimes referred to as a brand "ambassador," or brand "champion" (Chapter 9)
brand architecture - CORRECT ANSWER how a brand or brand family is delineated;
e.g., Apple is the company brand while Macintosh, iPhone, and iPad are product brands
(Chapter 3)
brand affinity - CORRECT ANSWER a brand that is held in high esteem by a prospect
or customer (Chapter 4)
brand awareness - CORRECT ANSWER being aware of the existence of a brand
(Chapter 2)
brand elements - CORRECT ANSWER sensory manifestations of brand identity
including brand name; see chapter for specific examples (Chapter 2)
brand equity - CORRECT ANSWER the "ownership" a brand has in the marketplace as
measured by the value of the brand and the collective perception of the brand; example:
Apple and Nike have significant brand equity (Chapter 3)
Challenge Activity Exam QUESTIONS
AND CORRECT ANSWERS
4 Ps - CORRECT ANSWER also known as the "Marketing Mix," the 4 Ps was
introduced in 1960 as a marketing framework comprising product, price, place, and
promotion (Chapter 5)
ABLE Framework - CORRECT ANSWER designed to help companies create effective
marketing communications while simplifying the evaluation and creation process; there are
four components in the ABLE Framework: attention, benefit, linkage, and equity (Chapter 9)
activation - CORRECT ANSWER the execution of marketing after the planning
process (Chapter 8)
agile - CORRECT ANSWER a methodology to more efficiently and effectively
develop software products (Chapter 7)
augmented product - CORRECT ANSWER part of Philip Kotler's "5 Product Levels;"
a version of the product with additional features that differentiates it from the competition
(Chapter 7)
average order value - CORRECT ANSWER a metric companies strive to increase by
increasing the amount of customer spend resulting in increased revenue and profits (Chapter
5)
Awareness Stage - CORRECT ANSWER the first stage in the Buyer's Journey and
confirms that you have a need, problem, or opportunity (Chapter 8)
Bargaining Power of Customers - CORRECT ANSWER part of Michael Porter's "Five
Forces;" companies are always concerned with customers' ability and desire to purchase,
price sensitivity, and changing preferences, among others (Chapter 7)
, Bargaining Power of Suppliers - CORRECT ANSWER part of Michael Porter's "Five
Forces;" companies are typically reliant on other businesses in their supply chain who control
inputs and outputs potentially affecting results (Chapter 7)
big idea - CORRECT ANSWER an overarching concept that unifies a marketing
campaign and connects with the intended audience (Chapter 9)
brand - CORRECT ANSWER an identifiable and differentiated product, service,
person, movement, idea, etc. that is represented by associations including thoughts and
identity, among many others (Chapter 2)
brand advocate - CORRECT ANSWER a loyal customer who supports and promotes a
brand — sometimes referred to as a brand "ambassador," or brand "champion" (Chapter 9)
brand architecture - CORRECT ANSWER how a brand or brand family is delineated;
e.g., Apple is the company brand while Macintosh, iPhone, and iPad are product brands
(Chapter 3)
brand affinity - CORRECT ANSWER a brand that is held in high esteem by a prospect
or customer (Chapter 4)
brand awareness - CORRECT ANSWER being aware of the existence of a brand
(Chapter 2)
brand elements - CORRECT ANSWER sensory manifestations of brand identity
including brand name; see chapter for specific examples (Chapter 2)
brand equity - CORRECT ANSWER the "ownership" a brand has in the marketplace as
measured by the value of the brand and the collective perception of the brand; example:
Apple and Nike have significant brand equity (Chapter 3)
