Customer Contact Latest Update 2024-2025

WGU D077 Concepts in Marketing, Sales, and Customer Contact Latest Update 2024-2025 Actual Exam with 500 Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor

• consultative selling is about partnering with the customer with a true focus on problem-

solving

• solution selling offers a complete package or solution for the business problem
• team selling involves a dedicated team working together to represent the company

and meet customer needs

• telemarketing is a method of direct marketing either over the phone or through a

subsequent face-to-face or web conferencing appointment scheduled during the call -

CORRECT ANSWER: Briefly discuss the 4 main types of sales approaches

• Price fixing (collusion): When two or more competing companies agree (or collude) on

how much to charge for a product or service

• Price discrimination: When a company charges different prices to buyers of the same

product in order to maximize profit

- Predatory pricing (undercutting): When a company prices a product or service

extremely low to drive out competition

• Bait and switch: When a company advertises a product for a low price and "switches"

a customer to a higher-priced product

• Price gouging: When a company has a monopoly on the market and prices products or

services overly high to drive profit - CORRECT ANSWER: What are the main unethical pricing tactics?

- Skimming: Pricing a new product high to increase profits (Apple iPhone)

• Penetration pricing: Pricing a new product lower than the perceived market price to

attract market share (Comcast's introductory pricing for cable and internet) 1 / 4

• Leader pricing: Pricing products below normal markup or at cost to attract customers

to a store where they would not normally shop (Low prices on organic milk at Whole foods)

• Bundling: Grouping related products together to encourage customers to buy both

(Shampoo and conditioner sold as a set at a hair salon)

• Prestige pricing: Raising the price of a product to increase the perception of its value

(High-priced T-shirts and other goods at specialty shops in fashionable districts)

• Competitive pricing: Setting the price of a product according to the price of competitive

products (Pricing a new line of shoes slightly below the cost of a competitor) -

CORRECT ANSWER: What are the key differences between Price skimming,

Penetration pricing, Leader pricing, Bundling, Prestige pricing & competitive pricing strategy.

• The economic buyer—This individual is responsible for buying products that enable

the company to achieve a business advantage. can range from the business unit manager level to as high as the CEO. This buyer type is sometimes referred to as the decider or decision maker.

• The infrastructure buyer—Also known as influencers, this role influences the buying

decision at the execution level. typically someone in the IT department.

• The user buyer—This position often initiates the purchase process and influences the

buying decision at the user level. - CORRECT ANSWER: What roles make up the

decision-making unit in the hi-tech sector?

-Focusing on the needs and wants of the customers so the organization can distinguish its product(s) from competitors' offerings. Products can be goods, services, or ideas.-Integrating all of the organization's activities, including production and promotion, to satisfy these wants and needs.-Achieving long-term goals for the organization by satisfying customer wants and needs

legally and responsibly. - CORRECT ANSWER: What is involved in the marketing

concept?

-Introductory: Low sales, Little or no profit, Often little to no competition

-Growth: Increasing sales, Rapidly increasing profit, Market has accepted the product and competitors begin to enter the market 2 / 4

-Maturity: High sales, High then declining profit, High level of competition, may be difficult for original company to compete -Decline: Declining sales, Declining profit, Competitive pressure remains high and demand falls - CORRECT ANSWER: What is Product life cycle stage? Identify at least two main features in each of the life cycle stages.

-Personal influences are unique to each consumer in the way they affect decision- making. These influences include needs and motivation, perceptions, learning, and attitude -Interpersonal influences come from a consumer's relationships with other people and groups. These influences come from a consumer's participation in family, culture (including subcultural groups), and society (including reference groups).s - CORRECT

ANSWER: Describe the types of influences on consumer decision-making.

• Problem and opportunity: Consumer recognizes a need (You are relocating to a new

area and need a place to live.)

• Search: Consumer searches for information about options (You research financing,

available homes, and communities.)

• Evaluation: Consumer evaluates, considers, and ranks the available options (You rank

available homes and develop your criteria.)

4 Decision: Consumer makes a decision whether or not to purchase a product or

service (You decide to purchase a particular home.)

5 Buy: Consumer completes the purchase (You go through the purchase process and

receive the title to the home.)

6 Post-purchase: Consumer assesses the decision and the buying experience (You

move into your new home and feel good about your decision as home values rise in the

neighborhood.) - CORRECT ANSWER: Describe the steps of the consumer decision-

making process and identify an example of the consumer's action in each step.

• P's: product, price, promotion, and place. - CORRECT ANSWER: What are the

controllable elements in the marketing environment?

A customer's life cycle includes the customer's entire interaction with the company or brand: a path from the first contact to loyalty. - CORRECT ANSWER: What is a customer's life cycle? 3 / 4

A key benefit of CRM is enabling companies to be more responsive to (and retain) customers. The customer experiences more unified, relevant communication with the company. Marketing and sales can analyze the data collected to better fit their target customer needs.One challenge is ensuring consumer privacy and security given the increased collection of data. As organizations optimize for user tastes based on data, it is the largest data points that will drive changes. As a result, while most consumers will benefit from changes, the rest of the consumers are at risk of being ignored entirely if their needs differ from the majority. It may also be a challenge for organizations to integrate a CRM

system into all relevant departments and workflows. - CORRECT ANSWER: Identify

and describe at least two benefits and two challenges of CRM.

A marketing strategy is how you will achieve the specified objectives in the marketing plan. It is informed by a clear understanding of an organization's strengths and weaknesses, the competitive environment, the potential for growth, and the target

customer. - CORRECT ANSWER: What is a marketing strategy?

A supply chain is the system through which an organization acquires raw material, produces products, and delivers the products and services to its customers. -

CORRECT ANSWER: What is supply chain?

A/B testing - CORRECT ANSWER: A marketing experiment where two variants of a

campaign are tested to see which one is most effective

Accommodation - CORRECT ANSWER: Style of handling conflict focused on empathy

over self-interest

According to the logic of the BCG matrix, as an industry grows, all investments become

cows or dogs. - CORRECT ANSWER: What happens to all investments as an industry

grows according to the BCG matrix logic?

Adaptive selling - CORRECT ANSWER: Using social styles to customize a sales

approach to the specific customer

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