WGU D373 Marketing in the Digital Era - Terms Challenge Activity ACTUAL exam: QUESTION AND ANSWERS UPDATED 2026 LATEST

4 Ps

also known as the "Marketing Mix," the 4 Ps was introduced in 1960 as a marketing framework comprising product, price, place, and promotion (Chapter 5)

ABLE Framework

designed to help companies create effective marketing communications while simplifying the evaluation and creation process; there are four components in the ABLE Framework: attention, benefit, linkage, and equity (Chapter 9)

activation

the execution of marketing after the planning process (Chapter 8)

agile

a methodology to more efficiently and effectively develop software products (Chapter 7)

augmented product

part of Philip Kotler's "5 Product Levels;" a version of the product with additional features that differentiates it from the competition (Chapter 7)

average order value

a metric companies strive to increase by increasing the amount of customer spend resulting in increased revenue and profits (Chapter 5)

Awareness Stage

the first stage in the Buyer's Journey and confirms that you have a need, problem, or opportunity (Chapter 8)

Bargaining Power of Customers

part of Michael Porter's "Five Forces;" companies are always concerned with customers' ability and desire to purchase, price sensitivity, and changing preferences, among others (Chapter 7)

Bargaining Power of Suppliers

part of Michael Porter's "Five Forces;" companies are typically reliant on other businesses in their supply chain who control inputs and outputs potentially affecting results (Chapter 7)

big idea

an overarching concept that unifies a marketing campaign and connects with the intended audience (Chapter 9)

brand

an identifiable and differentiated product, service, person, movement, idea, etc. that is represented by associations including thoughts and identity, among many others (Chapter 2)

brand advocate

a loyal customer who supports and promotes a brand — sometimes referred to as a brand "ambassador," or brand "champion" (Chapter 9)

brand architecture

how a brand or brand family is delineated; e.g., Apple is the company brand while Macintosh, iPhone, and iPad are product brands (Chapter 3)

brand affinity

a brand that is held in high esteem by a prospect or customer (Chapter 4)

brand awareness

being aware of the existence of a brand (Chapter 2)

brand elements

sensory manifestations of brand identity including brand name; see chapter for specific examples (Chapter 2)

brand equity

the "ownership" a brand has in the marketplace as measured by the value of the brand and the collective perception of the brand; example: Apple and Nike have significant brand equity (Chapter 3)

brand experience

the experience the customer has in interacting with a brand (Chapter 2)

brand extension

when a brand moves into a new category; example: Apple moving from computers (Macintosh) into music listening devices (iPod) and then into smartphones (iPhone) (Chapter 3)

brand identity

the way a brand looks and feels as exemplified through a logo, website, brochures, etc. (Chapter 2)

branding

the process of applying concepts, designs, and techniques to a brand to differentiate it from other brands in the marketplace (Chapter 2)

brand loyalty

purchasing or using one brand over another even if there are cheaper alternatives (Chapter 2)

brand perception

what one thinks about a brand, which is usually characterized as the intersection between the brand promise (what a brand promises to deliver) and the actual brand experience (Chapter 2)

brand personality

a discernible type, trait, or characteristic attributable to a brand much like a person that helps brands differentiate from the competition and create relatability for prospects and customers (Chapter 2)

brand positioning

creating a unique place to occupy in the minds of prospects and customers when they think of a brand (Chapter 2)

brand preference

choosing one brand over another (Chapter 2)

brand promise

what a brand promises to deliver to a customer (Chapter 2)

brand purpose

often refers to the "mission" or reason a brand exists and goes beyond just selling a product — often associated with a cause, social responsibility, or simply a deeper meaning; an example of this is TOMS shoes or Patagonia (Chapter 2)

brand relevance

ultimate display of brand loyalty; there is only one relevant choice thereby rendering all other brands irrelevant in the eyes of the customer (Chapter 2)

brand storytelling

expressing the mission, vision, values, and passion of a brand through a narrative that draws in the audience (Chapter 2)

brand value

the real and perceived value that a brand brings to the organization (Chapter 3)

Buyer's Journey

the Awareness, Consideration, and Decision stages that a consumer goes through from becoming aware of a need, problem, or opportunity to considering alternatives, and finally making a purchase decision (Chapter 8)

Call-to-Action (CTA)

a prompt designed to elicit a response or sale, e.g., a phone number or specific URL (Uniform Resource Locator or more commonly referred to as a "web address" or "domain.") (Chapter 8)

categories

classification of products and services; example is the "soda" category (Chapter 2)

category leader

brand that is the identifiable leader in its respective category; examples are Nike in athletic shoes and Starbucks in coffee (Chapter 2)

channel

where a company sells its products; e.g., through a website, retail stores, or through sales representatives who sell directly (Chapter 1)

churn

customers who drop off and no longer use the service (Chapter 5)

competitors

two or more businesses competing by selling the same or similar products (Chapter 4)

consumer decision-making process

the generally recognized steps that consumers go through to make a purchase

1. Awareness

recognition of a need, problem, or opportunity

2. Research

information search regarding the need, problem, or opportunity

3. Consideration

evaluation of alternatives, solutions

4. Decision

the decision to purchase a specific product, service, or brand

5. Evaluation

post-purchase evaluation if the solution meets the need, etc. (Chapter 2)

co-branding

also called "cooperative branding" or "collabs" where two or more brands benefit by serving a common or similar customer (Chapter 3)

consideration set

the brands or products one is seriously considering with regard to making a purchase (Chapter 4)

Consideration Stage

the second stage in the Buyer's Journey and signifies that you are now actively considering a new product or service (Chapter 8)

content marketing

area of marketing concerned with developing and deploying content to engage prospects and customers with the ultimate goals of lead generation and customer acquisition; content might be considered the "fuel" for inbound marketing (Chapter 8)

core benefit

part of Philip Kotler's "5 Product Levels;" the fundamental need or want consumers have that a product addresses (Chapter 7)

creative brief

an internal document used to keep stakeholders on the same page regarding the strategy, goals, and objectives of a campaign as well as the deliverables to execute on the campaign (Chapter 9)

Current Competition

part of Michael Porter's "Five Forces;" companies that are current competitors are always vying for position amongst themselves (Chapter 7)

customer acquisition cost (CAC)

an equation that determines how much companies should spend on acquiring new customers through sales and marketing costs (Chapter 5)

customer experience

the totality and quality of the interactions and engagements a customer has with a company thereby informing their perception and opinion of the brand (Chapter 5)

Customer Lifetime Value (CLV)

a metric that determines how much a customer is worth to an organization over their lifetime of doing business with a company (Chapter 3)

customer perceived value (CPV)

the belief of a customer (or not) that a product or service is going to satisfy their wants or needs (Chapter 6)

customer relationship management system (CRM)

a data system that allows departments to store and share common customer data (Chapter 9)

customer retention

the ability of a company to keep customers they already have (Chapter 5)

customer segmentation

grouping prospects and customers by demographics, geographics, psychographics, and behavior (Chapter 9)

data driven

refers to using data to drive the business — including decision making, processes, the customer experience, and even the revenue model (Chapter 11)

data-driven communications

the use of data to better understand target markets to deliver more relevant, contextual, or personalized messages (Chapter 8)

Decision Stage

the third and final stage in the Buyer's Journey, which finds you making the purchase decision based on the products that meet your specific needs including features and price (Chapter 8)

differentiation

the essence of a brand is differentiating it from other brands; distinguishing one brand from another (Chapter 3)

disruption

reimagining an industry through new business models, products, distribution, and pricing, among others; Dollar Shave Club and Tesla are two prime examples of disruptors (Chapter 6)

Diversification

one of Ansoff's four growth strategies for businesses; considered the riskiest as a company seeks to enter new markets with new products (Chapter 7)

down market

creating a product that appeals to a different audience at a lower price point (Chapter 3)

down market product line stretch

when a brand currently serves a middle or upper market and wants to serve a lower-level market (Chapter 7)

earned media

public relations, social media, and organic traffic to a company website through SEO characterize media that is earned versus bought through ads or promotion (Chapter 8)

economic benefit

the consumer determines other things related to price like service, durability, reliability, and value, which consciously and subconsciously affect the purchase decision (Chapter 6)

emotional reasoning

refers to purchasing a product based on the way it makes you feel — how it looks or feels elicits an emotional response (Chapter 6)

expected product

part of Philip Kotler's "5 Product Levels;" a more enhanced version of the product with features that most buyers expect when they make a purchase (Chapter 7)

first-party data

research conducted by a company versus data procured from another source, company, or industry organization (Chapter 9)

flanker brand

a new brand introduced by a company that already has a primary brand in a product category (Chapter 3)

functional benefit

what a product or service does for the customer (Chapter 6)

generic product

part of Philip Kotler's "5 Product Levels;" a simplified version of the product with only features necessary for basic functionality; this is analogous to Minimum Viable Product (MVP), which will be explored later in this chapter (Chapter 7)

growth strategies

there are four recognized growth strategies, as introduced by H. Igor Ansoff in the Harvard Business Review in 1957: Market Penetration and Product Development in existing markets and Market Development and Diversification in new markets (Chapter 7)

impressions

the potential number of times an advertisement is seen by an audience (Chapter 8)

inbound marketing

is about pulling consumers to your brand through value-added content that is relevant, contextual, or personalized versus only pushing messages to them (Chapter 8)

Integrated Marketing Communications (IMC)

often referred to as the new "promotion" of the 4 Ps; IMC includes advertising, public relations, digital marketing, direct marketing, events and experiences, sales promotion, and personal selling (Chapter 8)

internal customer

someone who depends on someone else or needs assistance of some kind within the organization (Chapter 4)

Key Performance Indicators (KPIs)

KPIs are the most important indicators to how the business is performing and evaluate the success of a company's overall performance and can be used to compare one company to another competitor to gage success (Chapter 9)

line extension

when a new product is introduced to expand an existing product line; example: Mountain Dew introducing new variants like Mountain Dew Code Red or Mountain Dew Baja Blast (Chapter 3)

Market Development

one of Ansoff's four growth strategies for businesses; considered even more risky as a company seeks to develop new markets with its existing products (Chapter 7)

marketing automation systems

systems that enable marketers to leverage CRM data and automate marketing through scheduled email campaigns, social media posts, and a variety of reports including website activity and engagement and marketing campaign results, among many others (Chapter 9)

marketing communications

how a company reaches and interacts with both prospective and existing customers to educate, inform, and entertain; primary objectives of marketing communications are to create awareness, elicit a response, and stimulate demand leading to a purchase (Chapter 9)

marketing concepts

concepts that illustrate how companies engage to compete, win customers, generate revenue and profit, and ultimately build a successful business (Chapter 1)

Market Penetration

one of Ansoff's four growth strategies for businesses; generally considered the least risky growth strategy because existing products are used to increase market share (Chapter 7)

market segmentation

used to narrow or define a group of people; standard marketing segmentation includes demographics (age, income), geographics (city, state), psychographics (beliefs, attitudes), and behavior (purchases, product usage) (Chapter 4)

market segments

group customers by specific characteristics or criteria (Chapter 1) marketing communications tactics: what's used to execute the marketing strategy; examples include advertising, social media, SEO, etc. (Chapter 2)

metric

something that can be measured but may not be a KPI; e.g., website visits might be a metric but a KPI might be customer conversions (sales) from organic web traffic (Chapter 9)

Minimum Viable Product (MVP)

fulfills the basic needs of customers with the intent of building a more useful final product based on real user feedback; particularly useful in software development where iterating a product is easier and more realistic than with physical products (Chapter 7)

New Entrants

part of Michael Porter's "Five Forces;" there is always a threat of new competitors entering the market (Chapter 7)

objective

usually a shorter term, specific goal that leads to a larger goal (Chapter 8)

omnichannel

a variety of mediums both online and offline in which consumer shopping behaviors, personal interactions, and communications take place (Chapter 4)

onboarding

can refer to employee training, getting new hires up to speed; or can apply to new customers and refer to onboarding initiatives that include welcome and training efforts, incentives, customer-only websites, and other reinforcement of a customer's purchase decision (Chapter 5)

one-to-many

when a company uses a communications vehicle like advertising to reach many people (Chapter 8)

organic content

content developed by a company that is featured on its website, social media, and its communications; organic content is different from paid advertisements (Chapter 8)

owned media

includes the company website, the website domain name, and all of the content created for its website and social media channels; data has also become an important asset, which helps drive traffic and informs brands on who to target, how to reach them, and what messages will resonate with a particular audience (Chapter 8)

paid media

any advertisement including broadcast, streaming, or digital as well as paid sales promotions, etc. (Chapter 8)

personas

a semi-fictional representation of an ideal customer based on market segmentation and other detailed insights, usually related to online activity and behavior (Chapter 4)

point of purchase (POP)

a visual display representing a product or service usually in a retail store (Chapter 8)