WGU D077 Module 1(lessons 1-6) Questions and Answers Rated A+

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WGU D077 Module 1(lessons 1-6) Questions and Answers Rated A+ marketing -✔✔ business function that identifies, satisfies and retains customers through a set of activities related to creating, ... communicating, delivering and exchanging offerings that have value to the customer Purpose of Marketing -✔✔ sell a company's products/services - communicate the value of product/service - communicate with customers and address their wants and needs Marketing function -✔✔ determine what bundles of goods and services the company offers for a certain price to customers key to Customer Satisfaction -✔✔ make sure everyone feels they benefit from the exchange marketing concept -✔✔ business philosophy that holds that company's goals can be achieved by identifying and satisfying the target customers needs and wants marketing concept involves -✔✔ focusing on needs/wants of customers, integrating all organizations activities to satisfy these needs and wants, achieve long-term goals by satisfying customer wants and needs legally and responsibly marketing mix -✔✔ represents the controllable elements in the marketing environment (product, price, promotion and place) Product lIfe cycle -✔✔ introduction, growth, maturity, decline product mix -✔✔ complete range of products for sale by company product width -✔✔ number of different product lines a company offers product lines -✔✔ series of related products offered by one company product depth -✔✔ number of versions offered for each product in the product line Promotion -✔✔ ways in which a product is advertises (traditional advertising, sales promotion, public relations, personal selling, social media and digital marketing) Price -✔✔ something given in exchange for a product - determines company's profit Pricing strategy -✔✔ based on demand for the product and the cost of producing the product [Show More]

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