WGU C712 Marketing Fundamentals Latest Updated Graded A+
1.01 The four types of Utility ✔✔form, time, place, and ownership
1.02 Form Utility ✔✔Conversion of raw materials and components into finished goods and services
1.03 Time Utility ✔✔Availability of goods and services when consumers want them
1.04 Place Utility ✔✔Availability of goods and services at convenient locations
1.05 Ownership (possession) Utility ✔✔Ability to transfer title to goods or services from marketer to buyer
1.06 Marketing specialists are responsible for: ✔✔1. identifying customer needs
- designing products that meet those needs
- communicating info about those goods to possible buyers
- making the items available at times and places that meet customers' needs 1 / 4
- pricing merchandise and services correctly
- providing follow-up to ensure customer satisfaction
1.07 Definition of Marketing ✔✔The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers,
1.08 The Five Eras of Marketing History ✔✔the production era, the sales era, the marketing era, the relationship era, and the social era.
1.09 Characteristics of Non profit Marketing ✔✔often must market to multiple publics (clients and sponsors)
1.10 Categories of non traditional Marketing ✔✔person, place, cause, event, and organization
1.11 Person Marketing ✔✔Marketing a person like celebrity or athlete 2 / 4
1.12 Place Marketing ✔✔Marketing to attract visitors to a particular area or improve consumer images of a city, state, or nation
1.13 Cause Marketing ✔✔marketing of a social issue, cause, or idea to selected target markets
1.14 Event Marketing ✔✔Marketing of sporting, cultural, and charitable activities to selected target markets
1.15 Organization Marketing ✔✔Marketing for mutual-benefit organizations, service organizations, and government organizations that seek to influence others to accept their goals, receive their services, or contribute to them in some way
1.16 The Eight Universal Functions of Marketing ✔✔Buying Selling Transporting Storing Standardizing & grading Financing 3 / 4
Risk taking Securing Marketing Information
1.17 Three categories for the Functions of Marketing ✔✔Exchange, Physical Distribution, Facilitating
1.18 Exchange Category ✔✔Buying and Selling
1.19 Physical Distribution Category ✔✔Transporting and Storing
1.20 Facilitating Category ✔✔Standardizing and grading, financing, risk taking, securing marketing information
2.01 Marketing Planning ✔✔implementing planning activities devoted to achieving marketing objectives
2.02 Strategic Planning ` ✔✔the process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives
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