WGU D077 Concepts in Marketing,
Sales, and Customer Contact
A/B testing - ANSWER: A marketing experiment where two variants of a campaign are
tested to see which one is most effective
Accommodation - ANSWER: Style of handling conflict focused on empathy over self-
interest
Adaptive selling - ANSWER: Using social styles to customize a sales approach to the
specific customer
administered vertical marketing system - ANSWER: Cooperation between levels of a
distribution channel where one member sets the terms due to its size and influence
advertising - ANSWER: Paid form of nonpersonal promotion
amiable - ANSWER: People with this social style want to know "why"
analytical - ANSWER: People with this social style want to know "how"
artificial intelligence - ANSWER: Intelligent machines (computers) capable of learning
and interacting
attitudes - ANSWER: Positive, negative, or ambivalent evaluation of people, objects,
event, activities, ideas, or anything else in the environment
attributes - ANSWER: Characteristics that define a product and will influence the
customer's purchase decision
Avoidance - ANSWER: Style of handling conflict with little empathy or self-interest
B2B sales - ANSWER: 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
Bait and switch - ANSWER: Fraudulent practice where an advertised product is
unavailable so a customer is guided to a more expensive one
,Bargaining power of buyers - ANSWER: One of Porter's Five Forces—the power of
customers to drive down prices if supply exceeds demand
Bargaining power of suppliers - ANSWER: One of Porter's Five Forces—the power of
suppliers when there are few alternative sources for the products' components
Bargaining - ANSWER: The fourth phase in the negotiation process, where the parties
seek an agreement
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
behavioral observation - ANSWER: Primary marketing research technique involving
formal or informal observation of customers and noncustomers
boycott - ANSWER: Voluntary and intentional refusal to buy products from a certain
person, company, or country for ethical or political reasons
brand equity - ANSWER: One of the drivers of customer equity, based on how the
customer assesses the value of the brand
brand loyalty - ANSWER: The faithfulness of customer's to a particular company and its
products
brand - ANSWER: 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
Bundling - ANSWER: Grouping related products together and pricing them as a single
product.
business cycle - ANSWER: Expansions and contractions in the level of economic
activities (business fluctuations) around a long-term growth trend
business to business (B2B) - ANSWER: 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) - ANSWER: Sales directly to the individuals who consume
a finished product
business-to-business (B2B) - ANSWER: 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) - ANSWER: Sales directly to the individuals who consume
a finished product for personal use
Buyers - ANSWER: Individuals at an organization who are responsible for the purchase
contract, often a purchasing department
buying center - ANSWER: Group of decision makers for a purchase by an organization
Channel conflict - ANSWER: When a company sells products directly to consumers, in
competition with the company's own channel partners
Closed-ended questions - ANSWER: Questions where a researcher provides a set of
options from which to choose a response, also called structured questions
Closure - ANSWER: The final phase of negotiation, where an agreement is reached or
the negotiation fails
cognitive dissonance - ANSWER: Mental discomfort triggered by holding two or more
contradictory beliefs, ideas, or values
Collaboration - ANSWER: Style of handling conflict with high concern for both empathy
and self-interest
Competition - ANSWER: Style of handling conflict focused on self-interest over empathy
Competitive pricing strategy - ANSWER: Setting the price for a product or service
relative to competitors
Compromise - ANSWER: Middle-ground style of handling conflict
Concentrated marketing - ANSWER: Targeting strategy that focuses on a very limited,
specific segment(s) of the market, also called niche marketing
consultative selling - ANSWER: Sales approach where the seller becomes a trusted
advisor to the customer and builds a relationship to truly understand her needs
consumer behavior - ANSWER: The study of individuals, groups, or organizations and
all the activities associated with the purchase, use, and disposal of goods and services
consumer confidence - ANSWER: Statistical measure of consumers' level of optimism
about current and future economic conditions
Consumer involvement - ANSWER: Level of consumer interest, search, or complex
decision-making
consumer - ANSWER: The user of a purchased product or service
, consumers - ANSWER: The user of a purchased product or service
Content marketing - ANSWER: Promotion through the creation and sharing of
messages and materials designed to stimulate interest in a product
contractual vertical marketing system - ANSWER: Cooperation between levels of a
distribution channel as described by a formal agreement
cookies - ANSWER: A small packet of information stored on your web browser to help a
website keep track of your visits and activity
Corporate Social Responsibility (CSR) - ANSWER: Way of conducting business with
commitment to the values, norms, and expectations of society for social responsibility
corporate vertical marketing system - ANSWER: Ownership by a single company of all
levels of production and distribution
culture - ANSWER: The customs, arts, social institutions, beliefs, and value systems of
a particular people, nation, or social group
customer equity - ANSWER: The combined customer lifetime values of all the
company's customers
customer life cycle - ANSWER: The steps in the customer relationship with a company,
from initial contact to loyalty
Customer lifetime value - ANSWER: The total profit a company expects to gain from a
customer throughout the relationship
Customer relationship management (CRM) - ANSWER: Processes implemented by a
company to handle its contact with customers with the goal of creating a unified
customer experience to maximize retention
customer satisfaction - ANSWER: A measure of how products or services delivered by
a company meet or exceed customer expectations
customer - ANSWER: The purchaser of a product or service
customers - ANSWER: The purchasers of a good or service
Database marketing organizations - ANSWER: 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
deception - ANSWER: Hiding the truth, especially to get an advantage
Sales, and Customer Contact
A/B testing - ANSWER: A marketing experiment where two variants of a campaign are
tested to see which one is most effective
Accommodation - ANSWER: Style of handling conflict focused on empathy over self-
interest
Adaptive selling - ANSWER: Using social styles to customize a sales approach to the
specific customer
administered vertical marketing system - ANSWER: Cooperation between levels of a
distribution channel where one member sets the terms due to its size and influence
advertising - ANSWER: Paid form of nonpersonal promotion
amiable - ANSWER: People with this social style want to know "why"
analytical - ANSWER: People with this social style want to know "how"
artificial intelligence - ANSWER: Intelligent machines (computers) capable of learning
and interacting
attitudes - ANSWER: Positive, negative, or ambivalent evaluation of people, objects,
event, activities, ideas, or anything else in the environment
attributes - ANSWER: Characteristics that define a product and will influence the
customer's purchase decision
Avoidance - ANSWER: Style of handling conflict with little empathy or self-interest
B2B sales - ANSWER: 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
Bait and switch - ANSWER: Fraudulent practice where an advertised product is
unavailable so a customer is guided to a more expensive one
,Bargaining power of buyers - ANSWER: One of Porter's Five Forces—the power of
customers to drive down prices if supply exceeds demand
Bargaining power of suppliers - ANSWER: One of Porter's Five Forces—the power of
suppliers when there are few alternative sources for the products' components
Bargaining - ANSWER: The fourth phase in the negotiation process, where the parties
seek an agreement
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
behavioral observation - ANSWER: Primary marketing research technique involving
formal or informal observation of customers and noncustomers
boycott - ANSWER: Voluntary and intentional refusal to buy products from a certain
person, company, or country for ethical or political reasons
brand equity - ANSWER: One of the drivers of customer equity, based on how the
customer assesses the value of the brand
brand loyalty - ANSWER: The faithfulness of customer's to a particular company and its
products
brand - ANSWER: 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
Bundling - ANSWER: Grouping related products together and pricing them as a single
product.
business cycle - ANSWER: Expansions and contractions in the level of economic
activities (business fluctuations) around a long-term growth trend
business to business (B2B) - ANSWER: 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) - ANSWER: Sales directly to the individuals who consume
a finished product
business-to-business (B2B) - ANSWER: 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) - ANSWER: Sales directly to the individuals who consume
a finished product for personal use
Buyers - ANSWER: Individuals at an organization who are responsible for the purchase
contract, often a purchasing department
buying center - ANSWER: Group of decision makers for a purchase by an organization
Channel conflict - ANSWER: When a company sells products directly to consumers, in
competition with the company's own channel partners
Closed-ended questions - ANSWER: Questions where a researcher provides a set of
options from which to choose a response, also called structured questions
Closure - ANSWER: The final phase of negotiation, where an agreement is reached or
the negotiation fails
cognitive dissonance - ANSWER: Mental discomfort triggered by holding two or more
contradictory beliefs, ideas, or values
Collaboration - ANSWER: Style of handling conflict with high concern for both empathy
and self-interest
Competition - ANSWER: Style of handling conflict focused on self-interest over empathy
Competitive pricing strategy - ANSWER: Setting the price for a product or service
relative to competitors
Compromise - ANSWER: Middle-ground style of handling conflict
Concentrated marketing - ANSWER: Targeting strategy that focuses on a very limited,
specific segment(s) of the market, also called niche marketing
consultative selling - ANSWER: Sales approach where the seller becomes a trusted
advisor to the customer and builds a relationship to truly understand her needs
consumer behavior - ANSWER: The study of individuals, groups, or organizations and
all the activities associated with the purchase, use, and disposal of goods and services
consumer confidence - ANSWER: Statistical measure of consumers' level of optimism
about current and future economic conditions
Consumer involvement - ANSWER: Level of consumer interest, search, or complex
decision-making
consumer - ANSWER: The user of a purchased product or service
, consumers - ANSWER: The user of a purchased product or service
Content marketing - ANSWER: Promotion through the creation and sharing of
messages and materials designed to stimulate interest in a product
contractual vertical marketing system - ANSWER: Cooperation between levels of a
distribution channel as described by a formal agreement
cookies - ANSWER: A small packet of information stored on your web browser to help a
website keep track of your visits and activity
Corporate Social Responsibility (CSR) - ANSWER: Way of conducting business with
commitment to the values, norms, and expectations of society for social responsibility
corporate vertical marketing system - ANSWER: Ownership by a single company of all
levels of production and distribution
culture - ANSWER: The customs, arts, social institutions, beliefs, and value systems of
a particular people, nation, or social group
customer equity - ANSWER: The combined customer lifetime values of all the
company's customers
customer life cycle - ANSWER: The steps in the customer relationship with a company,
from initial contact to loyalty
Customer lifetime value - ANSWER: The total profit a company expects to gain from a
customer throughout the relationship
Customer relationship management (CRM) - ANSWER: Processes implemented by a
company to handle its contact with customers with the goal of creating a unified
customer experience to maximize retention
customer satisfaction - ANSWER: A measure of how products or services delivered by
a company meet or exceed customer expectations
customer - ANSWER: The purchaser of a product or service
customers - ANSWER: The purchasers of a good or service
Database marketing organizations - ANSWER: 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
deception - ANSWER: Hiding the truth, especially to get an advantage
