Wgu D077 Study Guide Rated A+

Diversification {Ans: a strategy of increasing sales by introducing new products into new markets}Quality Positioning Strategy {Ans: Positioning the product as the highest quality Top-tier hotel brand, such as Ritz-Carlton}Undifferentiated marketing {Ans: Targeting strategy involving a single offer and marketing mix for all segments, also called mass marketing}Consumer Behavior {Ans: the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions}Product User Positioning Strategy {Ans: Positioning a product for a specific user group Johnson & Johnson baby products}What are the key benefits of SWOT analysis? {Ans: SWOT analysis offers two key benefits: (1) It encourages realistic planning, and (2) it improves an organization's ability to forecast future events.}Retention {Ans: —engaging an existing customer to keep them}Positioning Strategy {Ans: An effective way to separate a particular brand from its competitors by associating that brand with a particular set of customer needs.}objectives {Ans: align to organizational objectives and describe the specific results the marketing plan hopes to achieve.}Porter's five forces model {Ans: Planning tool which provides a model for how to identify and analyze the competitive forces that