K
C
LO
YC
WGU D077 STUDY GUIDE
D
EXAM QUESTIONS WITH
U
CORRECT ANSWERS ALL
ST
VERIFIED BY AN EXPERT A+
GRADED (LATEST UPDATE)
, Integrated Marketing Communications - ANS coordinating the promotion mix elements and
synchronizing promotion as a unified effort
Marketing - ANS The Activity, set of institutions, and process for creating, communicating,
delivering and exchanging offerings that have value for consumers. Also a business function
that identifies, satisfies, and retains customers through a set of activities related to creating,
communicating, delivering, and exchanging offerings that have value for the customer.
Marketing Mix (4 P's) - ANS Product, Place, Price, Promotion
K
Product Life Cycle - ANS describes the stages a new product goes through in the
marketplace: introduction, growth, maturity, and decline
C
The Introduction stage of the product life cycle is characterized by - ANS Low sales, Little or
no profit, and Often little to no competition
LO
The growth stage of the product life cycle is characterized by - ANS Increasing sales, Rapidly
increasing profits, Market has accepted the product and competitors begin to enter the market
The maturity stage of the product life cycle is characterized by - ANS High Sales, High then
declining profits, High level of competition, may be difficult for original company to compete
YC
The decline stage of the product life cycle is characterized by - ANS Declining Sales,
Declining Profit, and Competitive pressure remains high and demand falls
product mix - ANS The complete range of products offered for sale by a company throughout
its product lines, also known as the product assortment
D
product lines - ANS Series of similar products focused on a sector that a company creates
under a single brand
U
product depth - ANS Number of versions offered for each product in the product line
ST
product width - ANS The number of different product lines, or series of products a company
offers
price skimming - ANS Intentionally pricing a new product offering high with the intention of
lowering it over time as competition grows, particularly in the case of a unique offering with little
or no competition at the outset (Pricing Strategy)
penetration pricing - ANS Intentionally pricing a product lower than the market price to gain
market share in a new market (Pricing Strategy)
C
LO
YC
WGU D077 STUDY GUIDE
D
EXAM QUESTIONS WITH
U
CORRECT ANSWERS ALL
ST
VERIFIED BY AN EXPERT A+
GRADED (LATEST UPDATE)
, Integrated Marketing Communications - ANS coordinating the promotion mix elements and
synchronizing promotion as a unified effort
Marketing - ANS The Activity, set of institutions, and process for creating, communicating,
delivering and exchanging offerings that have value for consumers. Also a business function
that identifies, satisfies, and retains customers through a set of activities related to creating,
communicating, delivering, and exchanging offerings that have value for the customer.
Marketing Mix (4 P's) - ANS Product, Place, Price, Promotion
K
Product Life Cycle - ANS describes the stages a new product goes through in the
marketplace: introduction, growth, maturity, and decline
C
The Introduction stage of the product life cycle is characterized by - ANS Low sales, Little or
no profit, and Often little to no competition
LO
The growth stage of the product life cycle is characterized by - ANS Increasing sales, Rapidly
increasing profits, Market has accepted the product and competitors begin to enter the market
The maturity stage of the product life cycle is characterized by - ANS High Sales, High then
declining profits, High level of competition, may be difficult for original company to compete
YC
The decline stage of the product life cycle is characterized by - ANS Declining Sales,
Declining Profit, and Competitive pressure remains high and demand falls
product mix - ANS The complete range of products offered for sale by a company throughout
its product lines, also known as the product assortment
D
product lines - ANS Series of similar products focused on a sector that a company creates
under a single brand
U
product depth - ANS Number of versions offered for each product in the product line
ST
product width - ANS The number of different product lines, or series of products a company
offers
price skimming - ANS Intentionally pricing a new product offering high with the intention of
lowering it over time as competition grows, particularly in the case of a unique offering with little
or no competition at the outset (Pricing Strategy)
penetration pricing - ANS Intentionally pricing a product lower than the market price to gain
market share in a new market (Pricing Strategy)
