WGU D077 Marketing Mix exam
2023/ 42 Questions with 100%
correct Answers/ Verified.
Marketing Mix - -the set of tactical marketing tools - product,
price, place, and promotion - that the firm blends to produce the
response it wants in the target market.
-product - -Refers to goods, services, or even ideas.
-Product Life Cycle - -introduction, growth, maturity, decline
-product mix - -consists of all of the product lines offered by an
organization
-price - -that which is given up in an exchange to acquire a good
or service
-price skimming - -A pricing strategy that involves setting prices
higher than those of the competition, the lowering as competition
grows.
-penetration pricing - -setting a low initial price on a new product
to appeal immediately to the mass market and gain market share
-leader pricing - -setting some very low prices to get customers
into retail stores
-Bundling - -grouping two or more products together and pricing
them as a unit
-prestige pricing - -setting a high price so that quality or status
conscious consumers will be attracted to the product and buy it
-Competitive Pricing Strategies - -Pricing strategy designed to
deemphasize price as a competitive variable by pricing a good or
service at the level of comparable offerings.
2023/ 42 Questions with 100%
correct Answers/ Verified.
Marketing Mix - -the set of tactical marketing tools - product,
price, place, and promotion - that the firm blends to produce the
response it wants in the target market.
-product - -Refers to goods, services, or even ideas.
-Product Life Cycle - -introduction, growth, maturity, decline
-product mix - -consists of all of the product lines offered by an
organization
-price - -that which is given up in an exchange to acquire a good
or service
-price skimming - -A pricing strategy that involves setting prices
higher than those of the competition, the lowering as competition
grows.
-penetration pricing - -setting a low initial price on a new product
to appeal immediately to the mass market and gain market share
-leader pricing - -setting some very low prices to get customers
into retail stores
-Bundling - -grouping two or more products together and pricing
them as a unit
-prestige pricing - -setting a high price so that quality or status
conscious consumers will be attracted to the product and buy it
-Competitive Pricing Strategies - -Pricing strategy designed to
deemphasize price as a competitive variable by pricing a good or
service at the level of comparable offerings.
