WGU D077
Marketing Planning and Strategic Marketing
Objective Assessment
Exam Readiness
Practice Test & Study Guide
Use this Document to pass
I Was able to score exemplary on the
Exam with this.
Constitute over 80% of the Objective
Assessment (OA).
,Which term is used when the price of a new product is lower than the
competition with the goal of gaining market share?
Price skimming
Competitive
Prestige
Price penetration
Price penetration
Rationale: Price penetration is when a new product is priced lower than
the perceived market price with the goal of increasing market share.
In the marketing mix, what is meant by the term promotion?
Cost of a product, or what a company asks in exchange for a product
Getting the product from the producer to the customer
Goods, services, or ideas that a company offers to the market
Communications between the company and the customer
Communications between the company and the customer
Rationale: Promotion includes both the messages sent by the company
and messages that customers send to the public about their experience.
What is meant by the term "place" in the marketing mix?
Where products are purchased
Where product ads are posted
Where products are shipped from
Where products are manufactured
Where products are purchased
Rationale: In the marketing mix, the term "place" refers to the distribution
of the product. Place might be a traditional brick-and-mortar store, or it
could be online.
Which four components are part of the marketing mix?
,Promotion
People
Professionalism
Place
Power
Product
Place
Product
Power
Promotion
Rationale: Place is an element of the marketing mix involved with getting
the product from the producer to the customer. The product is an element
of the marketing mix that describes something offered to the market in
exchange, for which marketing actions are taken and marketing decisions
made. Promotion is an element of the marketing mix involving methods for
informing and influencing customers to buy a product, including traditional
advertising, sales promotion, public relations, personal selling, and digital
marketing
What is the meaning of the term "uncontrollable elements"?
Elements that are outside of a marketer's control
Elements in design and delivery of products
Elements that do not satisfy customers' needs and wants
Elements associated with branding strategies
Elements that are outside of a marketer's control.
Rationale: Uncontrollable elements are elements in the external marketing
environment that cannot directly be controlled by marketers. Uncontrollable
elements include things that are outside of the control of a company.
, Which three items are controllable elements in the marketing
environment?
Legal
Price
Place
Political
Competition
Product
Price
Place
Product
Rationale: A company can control the places it sells its products. A
company can control the price of its product. A company can control the
product it is selling.
Which three items are considered uncontrollable elements?
Competition
Technology
Price
Place
Economic
Product
Competition
Technology
Economic
Rationale: Changes in the economy are out of a company's hands. A
company cannot control all technological advancements. A company does
not have control over its competitors.
A small tobacco shop that just opened wants to run advertising on a
local radio station. When they approach the radio station's sales
Marketing Planning and Strategic Marketing
Objective Assessment
Exam Readiness
Practice Test & Study Guide
Use this Document to pass
I Was able to score exemplary on the
Exam with this.
Constitute over 80% of the Objective
Assessment (OA).
,Which term is used when the price of a new product is lower than the
competition with the goal of gaining market share?
Price skimming
Competitive
Prestige
Price penetration
Price penetration
Rationale: Price penetration is when a new product is priced lower than
the perceived market price with the goal of increasing market share.
In the marketing mix, what is meant by the term promotion?
Cost of a product, or what a company asks in exchange for a product
Getting the product from the producer to the customer
Goods, services, or ideas that a company offers to the market
Communications between the company and the customer
Communications between the company and the customer
Rationale: Promotion includes both the messages sent by the company
and messages that customers send to the public about their experience.
What is meant by the term "place" in the marketing mix?
Where products are purchased
Where product ads are posted
Where products are shipped from
Where products are manufactured
Where products are purchased
Rationale: In the marketing mix, the term "place" refers to the distribution
of the product. Place might be a traditional brick-and-mortar store, or it
could be online.
Which four components are part of the marketing mix?
,Promotion
People
Professionalism
Place
Power
Product
Place
Product
Power
Promotion
Rationale: Place is an element of the marketing mix involved with getting
the product from the producer to the customer. The product is an element
of the marketing mix that describes something offered to the market in
exchange, for which marketing actions are taken and marketing decisions
made. Promotion is an element of the marketing mix involving methods for
informing and influencing customers to buy a product, including traditional
advertising, sales promotion, public relations, personal selling, and digital
marketing
What is the meaning of the term "uncontrollable elements"?
Elements that are outside of a marketer's control
Elements in design and delivery of products
Elements that do not satisfy customers' needs and wants
Elements associated with branding strategies
Elements that are outside of a marketer's control.
Rationale: Uncontrollable elements are elements in the external marketing
environment that cannot directly be controlled by marketers. Uncontrollable
elements include things that are outside of the control of a company.
, Which three items are controllable elements in the marketing
environment?
Legal
Price
Place
Political
Competition
Product
Price
Place
Product
Rationale: A company can control the places it sells its products. A
company can control the price of its product. A company can control the
product it is selling.
Which three items are considered uncontrollable elements?
Competition
Technology
Price
Place
Economic
Product
Competition
Technology
Economic
Rationale: Changes in the economy are out of a company's hands. A
company cannot control all technological advancements. A company does
not have control over its competitors.
A small tobacco shop that just opened wants to run advertising on a
local radio station. When they approach the radio station's sales
