WGU D077 CONCEPTS IN MARKETING,
SALES, AND CUSTOMER CONTACT
COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ Marketing.
Answer: the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
◍ Marketing concept.
Answer: business philosophy that holds that long-term profitability is best
achieved satisfying the needs of a particular target customer, or market
segment(s).
◍ Marketing Mix.
Answer: four components are called the "Four Ps" of marketing- Product,
Price, Place ,Promotion
◍ 4 Product Life Cycle stages.
Answer: Introduction, Growth, Maturity, Decline
◍ Products.
Answer: Physical product offering manufactured by a business
◍ Services.
Answer: Intangible product offering by a business
◍ Price skimming.
Answer: Pricing a new product high to increase profits
◍ Leader pricing.
, Answer: Pricing products below normal markup or at cost to attract
customers to a store where they would not normally shop
◍ Penetration pricing.
Answer: Pricing a new product lower than the perceived market price to
attract market share
◍ Bundling.
Answer: Grouping related products together to encourage customers to buy
both
◍ Competitive pricing.
Answer: Setting the price of a product according to the price of competitive
products
◍ Digital media.
Answer: All of a company's marketing efforts that use an electronic device
or the Internet
◍ Integrated marketing communication.
Answer: Immersive and targeted communication with customers to help
move them through the various stages of the buying process
◍ Vertical marketing system.
Answer: Cooperation between multiple levels of a distribution channel
◍ Corporate vertical marketing.
Answer: Ownership by a single company of all levels of production and
distribution
◍ Administered vertical system.
Answer: Cooperation between levels of a distribution channel where one
member sets the terms due to its size and influence
◍ Contractual vertical system.
Answer: Cooperation between levels of a distribution channel as described
by a formal agreement
◍ PEST analysis.
, Answer: Form of analysis used to isolate opportunities and threats in the
marketing environment
◍ Price fixing (collusion).
Answer: When two or more competing companies agree (or collude) on how
much to charge for a product or service
◍ Price discrimination.
Answer: When a company charges different prices to buyers of the same
product in order to maximize profit
◍ Predatory pricing (undercutting).
Answer: When a company prices a product or service extremely low to drive
out competition
◍ Bait and switch.
Answer: When a company advertises a product for a low price and
"switches" a customer to a higher-priced product
◍ Price gouging.
Answer: When a company has a monopoly on the market and prices
products or services overly high to drive profit
◍ Mission statement.
Answer: Explanation of why the marketing plan exists and what problem it
hopes to solve
◍ SMART.
Answer: Specific, Measurable, Achievable, Result-oriented, Time bound
◍ Boston Consulting Group (BCG) Matrix.
Answer: 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
◍ Porters five forces model.
Answer: Planning tool which provides a model for how to identify and
analyze the competitive forces that shape a company's environment and
SALES, AND CUSTOMER CONTACT
COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ Marketing.
Answer: the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.
◍ Marketing concept.
Answer: business philosophy that holds that long-term profitability is best
achieved satisfying the needs of a particular target customer, or market
segment(s).
◍ Marketing Mix.
Answer: four components are called the "Four Ps" of marketing- Product,
Price, Place ,Promotion
◍ 4 Product Life Cycle stages.
Answer: Introduction, Growth, Maturity, Decline
◍ Products.
Answer: Physical product offering manufactured by a business
◍ Services.
Answer: Intangible product offering by a business
◍ Price skimming.
Answer: Pricing a new product high to increase profits
◍ Leader pricing.
, Answer: Pricing products below normal markup or at cost to attract
customers to a store where they would not normally shop
◍ Penetration pricing.
Answer: Pricing a new product lower than the perceived market price to
attract market share
◍ Bundling.
Answer: Grouping related products together to encourage customers to buy
both
◍ Competitive pricing.
Answer: Setting the price of a product according to the price of competitive
products
◍ Digital media.
Answer: All of a company's marketing efforts that use an electronic device
or the Internet
◍ Integrated marketing communication.
Answer: Immersive and targeted communication with customers to help
move them through the various stages of the buying process
◍ Vertical marketing system.
Answer: Cooperation between multiple levels of a distribution channel
◍ Corporate vertical marketing.
Answer: Ownership by a single company of all levels of production and
distribution
◍ Administered vertical system.
Answer: Cooperation between levels of a distribution channel where one
member sets the terms due to its size and influence
◍ Contractual vertical system.
Answer: Cooperation between levels of a distribution channel as described
by a formal agreement
◍ PEST analysis.
, Answer: Form of analysis used to isolate opportunities and threats in the
marketing environment
◍ Price fixing (collusion).
Answer: When two or more competing companies agree (or collude) on how
much to charge for a product or service
◍ Price discrimination.
Answer: When a company charges different prices to buyers of the same
product in order to maximize profit
◍ Predatory pricing (undercutting).
Answer: When a company prices a product or service extremely low to drive
out competition
◍ Bait and switch.
Answer: When a company advertises a product for a low price and
"switches" a customer to a higher-priced product
◍ Price gouging.
Answer: When a company has a monopoly on the market and prices
products or services overly high to drive profit
◍ Mission statement.
Answer: Explanation of why the marketing plan exists and what problem it
hopes to solve
◍ SMART.
Answer: Specific, Measurable, Achievable, Result-oriented, Time bound
◍ Boston Consulting Group (BCG) Matrix.
Answer: 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
◍ Porters five forces model.
Answer: Planning tool which provides a model for how to identify and
analyze the competitive forces that shape a company's environment and
