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WGU
WGU D174 KEY TERMS EXAM
QUESTIONS WITH CORRECT VERIFIED
SOLUTIONS 100% GUARANTEED PASS
Return on marketing investment (ROMI) - ANS ✓What impact an investment
in marketing has on a firm's success, especially financially
Minimal information search - ANS ✓Consumer does very limited/minimal
research before purchasing a product
Extensive information search - ANS ✓Consumer does extensive investigation
and research before purchasing a product
Limited information search - ANS ✓Consumer uses incomplete information OR
personal knowledge to make a purchasing decision
Internal information sources - ANS ✓All the information stored in memory
and accessible by individuals
External information sources - ANS ✓Additional information an individual
seeks from outside sources when internal information is not sufficient to make a
purchase decision
Emotional - ANS ✓Product decision based more on emotional aspect vs rational
thought
WGU D174
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WGU
Attitude - ANS ✓Product decision based on consumers beliefs and values
Attribute - ANS ✓Product choice based on the premise that product choices are
made by comparing different brands on attributes
Segmentation - ANS ✓Process of dividing a market into smaller markets based
on common characteristics
Differentiated - ANS ✓Communicating and delivering value in different ways to
different customer groups
Undifferentiated - ANS ✓(mass marketing) broadest approach to target
marketing that approaches a wide variety of consumers
Concentrated - ANS ✓(niche) approach that involves targeting a large portion of
a small market
Customized - ANS ✓(one to one marketing) strategy that involves directing
energy and resources into establishing a learning relationship with each
customer to increase the firms customer knowledge (EX: Netflix's recommended
movies)
Positioning - ANS ✓Process of communicating value to customers in a manner
that connects their needs and wants to product attributes through marketing mix
variables
Perceptual maps - ANS ✓Visual tools used in positioning that allows for
comparing attributes to gauge consumer perceptions of each competitors
delivery against those attributes
WGU D174
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WGU
Differentiation - ANS ✓Communicating and delivering value to different
consumer groups in different ways
Innovative leadership - ANS ✓Constantly developing the "next new thing"
(Apple)
Product leadership - ANS ✓performance, features, durability, reliability, style,
and so on (BMW)
Image leadership - ANS ✓symbols, atmosphere, and creative media (Harley
Davidson)
Price leadership - ANS ✓Efficiencies in cost of labor, materials, supply chain, or
other operational elements enabling the price leader to charge less (Walmart)
Convenience leadership - ANS ✓making the product or service significantly
easier to obtain (Amazon)
Service leadership - ANS ✓having an unusual and notable commitment to
providing service to customers (BBW)
Personnel leadership - ANS ✓hiring employees who are competent, reliable,
courteous, credible, responsive, and able to communicate clearly (Chick-fil-A)
Under positioning - ANS ✓When consumers have only a vague idea about the
company and its products, and do not perceive any real differentiation
Over positioning - ANS ✓When consumers have too narrow an understanding
of the company, product, or brand
WGU D174
WGU
WGU D174 KEY TERMS EXAM
QUESTIONS WITH CORRECT VERIFIED
SOLUTIONS 100% GUARANTEED PASS
Return on marketing investment (ROMI) - ANS ✓What impact an investment
in marketing has on a firm's success, especially financially
Minimal information search - ANS ✓Consumer does very limited/minimal
research before purchasing a product
Extensive information search - ANS ✓Consumer does extensive investigation
and research before purchasing a product
Limited information search - ANS ✓Consumer uses incomplete information OR
personal knowledge to make a purchasing decision
Internal information sources - ANS ✓All the information stored in memory
and accessible by individuals
External information sources - ANS ✓Additional information an individual
seeks from outside sources when internal information is not sufficient to make a
purchase decision
Emotional - ANS ✓Product decision based more on emotional aspect vs rational
thought
WGU D174
, 2
WGU
Attitude - ANS ✓Product decision based on consumers beliefs and values
Attribute - ANS ✓Product choice based on the premise that product choices are
made by comparing different brands on attributes
Segmentation - ANS ✓Process of dividing a market into smaller markets based
on common characteristics
Differentiated - ANS ✓Communicating and delivering value in different ways to
different customer groups
Undifferentiated - ANS ✓(mass marketing) broadest approach to target
marketing that approaches a wide variety of consumers
Concentrated - ANS ✓(niche) approach that involves targeting a large portion of
a small market
Customized - ANS ✓(one to one marketing) strategy that involves directing
energy and resources into establishing a learning relationship with each
customer to increase the firms customer knowledge (EX: Netflix's recommended
movies)
Positioning - ANS ✓Process of communicating value to customers in a manner
that connects their needs and wants to product attributes through marketing mix
variables
Perceptual maps - ANS ✓Visual tools used in positioning that allows for
comparing attributes to gauge consumer perceptions of each competitors
delivery against those attributes
WGU D174
, 3
WGU
Differentiation - ANS ✓Communicating and delivering value to different
consumer groups in different ways
Innovative leadership - ANS ✓Constantly developing the "next new thing"
(Apple)
Product leadership - ANS ✓performance, features, durability, reliability, style,
and so on (BMW)
Image leadership - ANS ✓symbols, atmosphere, and creative media (Harley
Davidson)
Price leadership - ANS ✓Efficiencies in cost of labor, materials, supply chain, or
other operational elements enabling the price leader to charge less (Walmart)
Convenience leadership - ANS ✓making the product or service significantly
easier to obtain (Amazon)
Service leadership - ANS ✓having an unusual and notable commitment to
providing service to customers (BBW)
Personnel leadership - ANS ✓hiring employees who are competent, reliable,
courteous, credible, responsive, and able to communicate clearly (Chick-fil-A)
Under positioning - ANS ✓When consumers have only a vague idea about the
company and its products, and do not perceive any real differentiation
Over positioning - ANS ✓When consumers have too narrow an understanding
of the company, product, or brand
WGU D174
