Marketing in the Digital Era D373 WGU OA Exam Verified Questions and Answers 2024 Target customers - Customers based on a predefined geographic boundary Market segmentation - Dividing a market through variables such as age, gender, education level, family size, occupation, income, and more Psychographic - Focus on the intrinsic traits the target customer has, such as values, personalities, interests, attitudes, conscious and subconscious motivators, lifestyles, and opinions Behavioral - The way customers go through their decision making and buying processes, including attitudes towards the brand, the way they use it, and their knowledge base What is marketing? - The set of institutions and processes for creating, communicating, delivering, and exchanging offers that have value for customers, clients, partners, and society Marketing Coordinator - Entry -level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization (1 -3 years). Marketing Director - Mid-level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization, with 7 -10 years of experience Vice President - Senior -level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization, with 11 -15 years of experience Chief Marketing Officer - Top-level marketing position responsible for planning, executing, and managing a variety of functions to deliver value to the customer and the organization, with 20+ years of experience Who is responsible for ROI? (return on investments) - Chief marketing officer What is the traditional marketing mix? - Product, price, place, promotion What is the expanded marketing mix? - Product, price, place, promotion people,process, physical evidence Strategy - Represents what the company intends to do Execution - Represents how the company intends to do it Prospects - Potential customers who haven't bought from the company yet Customers - People who have bought from the company Positioning - The culmination of the products, services, and experiences that a brand provides to convey value and meet customer wants, needs, and expectations Conflict - Occurs when different companies or competitors have conflicting goals Buyer's Journey - The process a buyer goes through from recognizing a need or opportunity to making a purchase decision and evaluating the post -purchase experience Brand - An identifiable and differentiated product, service, person, movement, etc. Brand promise - What a brand promises to deliver to a customer Brand awareness - Awareness of the existence of a brand Brand positioning - The unique place the brand occupies in the consumer's mind, linked to benefits received Brand relevance - Occurs when there is only one relevant choice, making all other brands irrelevant Brand purpose - The reason the brand exists, goes beyond just selling Brand storytelling - Expressing the mission, vision, values, and passion of a brand through a narrative that draws in the audience Brand differentiation - How a brand or brand family is delineated, including line extension, brand extension, flanker brands, down market and up market extensions, co -
branding, etc. Brand experience - The totality and quality of the interactions and engagements a customer has with a company, informing their perception and opinion of the brand Purchase decision - Factors influencing a customer's decision to purchase a product or service, including loyalty and rewards, ordering ease and convenience, user experience, interaction, transparency, and purpose
