D174 Marketing Management WGU /
Questions & Expertly Verified Answers,
.
Sustainability - Answer: balancing business needs and social needs over the long term and
doing the right thing.
Triple Bottom Line - Answer: recognition of the need for organizations to improve the state of
people, the planet, and profit simultaneously if they are to achieve sustainable, long-term
growth
one-to-one marketing - Answer: an individualized marketing method that utilizes customer
information to build long-term, personalized, and profitable relationships with each customer
relationship orientation - Answer: driven by the realization that it is far more efficient and
effective to invest in keeping and cultivating profitable current customers instead of constantly
having to invest in gaining new customers that come with unknown ROI
customer orientation - Answer: a company objective based on the premise that the firm should
measure itself primarily according to whether it meets its customers' needs
differentiation orientation - Answer: What clearly distinguishes your products from those of
competitors in the minds of customers.
-Communicating and delivering value in different ways to different customer groups
Market Orientation - Answer: business focuses on the market; responds to customer's needs &
wants
,Product Orientation - Answer: business focues on the product; develops goods based on what
it's good at doing
marketing ethics - Answer: societal & professional standard of right & fair practices that are
expected of marketing managers in their oversight of strategy formulation, implementation, and
control
Form Utility - Answer: created by marketing when raw materials are transformed into a final
product to meet a market need
Time Utility - Answer: created by marketing when a product available when needed or desired
Ownership Utility - Answer: created by marketing when a product is exchanged with customer
place utility - Answer: created by marketing when product is available at a convenient location
value proposition - Answer: the whole bundle of benefits a company promises to deliver to the
customer, not just the benefits of the product itself.
Porter's Value Chain Model-
Support Activities - Answer: 1. Firm's Infrastructure (accounting, finance, management)
2. Human Resources Management
3. Product & Technology Development (R&D)
4. Procurement
Porter's Value Chain Model-
Primary Activities - Answer: 1. Inbound logistics (inputs)
,2. Operations (manufacturing and testing)
3. Outbound logistics (storage and distribution)
4. Marketing and sales
5. After-sales service
Marketing Planning - Answer: 1. marketing plan must be connected to firm's business plan
2. situational analysis - SWOT
3. Perform any needed market research
4. Establish marketing goals & objectives
5. Develop marketing strategies
6. Develop implementation plans
7. Provide for contingency planning
market-driven strategic planning - Answer: The process at the corporate or strategic business
unit (SBU) level of a firm that acts to marshal the various resource and functional areas toward a
central purpose around the customer.
Strategic Business Unit (SBU) - Answer: a relatively autonomous division or organizational unit
of a large company that operates independently but within the corporate umbrella, exercising
control over most of the factors affecting its long-term performance.
BCG Matrix: Stars - Answer: High growth/High Postition
-important to building the future of the business
-deserving any needed investment
-Will eventually become a cash cow
BCG Matrix: Cash Cows - Answer: Low growth/high position
, key source of internal cash generation for the firm
BCG Matrix: Dogs - Answer: low growth/low position
potential high cash users & prime candidates for liquidation
BCG Matrix: ?/Problem Child - Answer: high growth/low position
high cash needs that, if nurtured properly, can convert into stars
GE Business Screen - Answer: A method of evaluating businesses along two dimensions: (1)
industry attractiveness and (2) competitive position; in general, the more attractive the industry
and the more competitive the position, the more an organization should invest in a business
cost leadership strategy - Answer: lower cost
broad target
cost-focus strategy - Answer: lower cost
narrow target
differentiation strategy - Answer: differentiated
broad target
focused differentiation strategy - Answer: differentiated
narrow target
Prospector (Miles and Snow) - Answer: firm exhibits continual innovation by finding & exploiting
new product & market opportunities
Questions & Expertly Verified Answers,
.
Sustainability - Answer: balancing business needs and social needs over the long term and
doing the right thing.
Triple Bottom Line - Answer: recognition of the need for organizations to improve the state of
people, the planet, and profit simultaneously if they are to achieve sustainable, long-term
growth
one-to-one marketing - Answer: an individualized marketing method that utilizes customer
information to build long-term, personalized, and profitable relationships with each customer
relationship orientation - Answer: driven by the realization that it is far more efficient and
effective to invest in keeping and cultivating profitable current customers instead of constantly
having to invest in gaining new customers that come with unknown ROI
customer orientation - Answer: a company objective based on the premise that the firm should
measure itself primarily according to whether it meets its customers' needs
differentiation orientation - Answer: What clearly distinguishes your products from those of
competitors in the minds of customers.
-Communicating and delivering value in different ways to different customer groups
Market Orientation - Answer: business focuses on the market; responds to customer's needs &
wants
,Product Orientation - Answer: business focues on the product; develops goods based on what
it's good at doing
marketing ethics - Answer: societal & professional standard of right & fair practices that are
expected of marketing managers in their oversight of strategy formulation, implementation, and
control
Form Utility - Answer: created by marketing when raw materials are transformed into a final
product to meet a market need
Time Utility - Answer: created by marketing when a product available when needed or desired
Ownership Utility - Answer: created by marketing when a product is exchanged with customer
place utility - Answer: created by marketing when product is available at a convenient location
value proposition - Answer: the whole bundle of benefits a company promises to deliver to the
customer, not just the benefits of the product itself.
Porter's Value Chain Model-
Support Activities - Answer: 1. Firm's Infrastructure (accounting, finance, management)
2. Human Resources Management
3. Product & Technology Development (R&D)
4. Procurement
Porter's Value Chain Model-
Primary Activities - Answer: 1. Inbound logistics (inputs)
,2. Operations (manufacturing and testing)
3. Outbound logistics (storage and distribution)
4. Marketing and sales
5. After-sales service
Marketing Planning - Answer: 1. marketing plan must be connected to firm's business plan
2. situational analysis - SWOT
3. Perform any needed market research
4. Establish marketing goals & objectives
5. Develop marketing strategies
6. Develop implementation plans
7. Provide for contingency planning
market-driven strategic planning - Answer: The process at the corporate or strategic business
unit (SBU) level of a firm that acts to marshal the various resource and functional areas toward a
central purpose around the customer.
Strategic Business Unit (SBU) - Answer: a relatively autonomous division or organizational unit
of a large company that operates independently but within the corporate umbrella, exercising
control over most of the factors affecting its long-term performance.
BCG Matrix: Stars - Answer: High growth/High Postition
-important to building the future of the business
-deserving any needed investment
-Will eventually become a cash cow
BCG Matrix: Cash Cows - Answer: Low growth/high position
, key source of internal cash generation for the firm
BCG Matrix: Dogs - Answer: low growth/low position
potential high cash users & prime candidates for liquidation
BCG Matrix: ?/Problem Child - Answer: high growth/low position
high cash needs that, if nurtured properly, can convert into stars
GE Business Screen - Answer: A method of evaluating businesses along two dimensions: (1)
industry attractiveness and (2) competitive position; in general, the more attractive the industry
and the more competitive the position, the more an organization should invest in a business
cost leadership strategy - Answer: lower cost
broad target
cost-focus strategy - Answer: lower cost
narrow target
differentiation strategy - Answer: differentiated
broad target
focused differentiation strategy - Answer: differentiated
narrow target
Prospector (Miles and Snow) - Answer: firm exhibits continual innovation by finding & exploiting
new product & market opportunities
