Concepts in Marketing, Sales, and Customer
Contact WGU D077 ACTUAL QUESTIONS
AND CORRECT ANSWERS
product - Correct answers✔✔A service, good, or system that is offered to a market for sale to
customers
good - Correct answers✔✔Physical product offering manufactured by a business
service - Correct answers✔✔Intangible product offering by a business
customer satisfaction - Correct answers✔✔A measure of how products or services delivered by a
company meet or exceed customer expectations
marketing concept - Correct answers✔✔Business philosophy holding that a company's goals can
best be achieved by identifying and satisfying the target customer's needs and wants
marketing mix - Correct answers✔✔The controllable elements in the marketing environment,
made up of the product, price, promotion, and place; also known as the 4Ps of marketing
product life cycle - Correct answers✔✔Phases of a product, from introduction to growth,
maturation, and decline
introductory - Correct answers✔✔low sales, little or no profit, often little to no competition
, growth - Correct answers✔✔increasing sales, rapidly increasing profits, market has accepted the
product and competitors begin to enter the market
maturity - Correct answers✔✔high sales, declining profits, high level of competition, may be
difficult for original company to compete
decline - Correct answers✔✔declining sales, declining profits, competitive pressure remains
high and demand falls
product mix - Correct answers✔✔The complete range of products offered for sale by a company
throughout its product lines, also known as the product assortment
product lines - Correct answers✔✔Series of similar products focused on a sector that a company
creates under a single brand
product depth - Correct answers✔✔number of versions offered for each product in the product
line
brand - Correct answers✔✔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
brand loyalty - Correct answers✔✔The faithfulness of customer's to a particular company and its
products
price - Correct answers✔✔Element of the marketing mix involved with the cost of a product, or
what a company asks for from the customer in exchange for the product
Contact WGU D077 ACTUAL QUESTIONS
AND CORRECT ANSWERS
product - Correct answers✔✔A service, good, or system that is offered to a market for sale to
customers
good - Correct answers✔✔Physical product offering manufactured by a business
service - Correct answers✔✔Intangible product offering by a business
customer satisfaction - Correct answers✔✔A measure of how products or services delivered by a
company meet or exceed customer expectations
marketing concept - Correct answers✔✔Business philosophy holding that a company's goals can
best be achieved by identifying and satisfying the target customer's needs and wants
marketing mix - Correct answers✔✔The controllable elements in the marketing environment,
made up of the product, price, promotion, and place; also known as the 4Ps of marketing
product life cycle - Correct answers✔✔Phases of a product, from introduction to growth,
maturation, and decline
introductory - Correct answers✔✔low sales, little or no profit, often little to no competition
, growth - Correct answers✔✔increasing sales, rapidly increasing profits, market has accepted the
product and competitors begin to enter the market
maturity - Correct answers✔✔high sales, declining profits, high level of competition, may be
difficult for original company to compete
decline - Correct answers✔✔declining sales, declining profits, competitive pressure remains
high and demand falls
product mix - Correct answers✔✔The complete range of products offered for sale by a company
throughout its product lines, also known as the product assortment
product lines - Correct answers✔✔Series of similar products focused on a sector that a company
creates under a single brand
product depth - Correct answers✔✔number of versions offered for each product in the product
line
brand - Correct answers✔✔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
brand loyalty - Correct answers✔✔The faithfulness of customer's to a particular company and its
products
price - Correct answers✔✔Element of the marketing mix involved with the cost of a product, or
what a company asks for from the customer in exchange for the product
