WGU D174 MARKETING MANAGEMENT QUESTIONS
AND CORRECT ANSWERS
4 CRM Elements - Answers - 1. Knowledge Discovery
2. Market Planning
3. Customer Interaction.
4. Analysis and Refinement
4 Regional Market Zones - Answers - 1. EU
2. NAFTA
3. MERCOSUR
4. ASEAN
A business sets a product price based on an attempt to drive competitors out of
business.
Which illegal pricing activity is this an example of? - Answers - A. Price discrimination
B. Price fixing
C. Deceptive pricing
D. Predatory pricing
Correct Answer:
D. Predatory pricing
A business sets prices based on the cost to produce products plus a markup
percentage.
Which price setting approach is the business using? - Answers - A. Cost-plus pricing
B. Demand-based pricing
C. Average-cost pricing
D. Target return pricing
Correct Answer:
A. Cost-plus pricing
A business sets prices based on the goal of attracting competitors' current customers.
Which pricing objective does this business have? - Answers - A. Increasing market
share
B. Maximizing profits
C. Matching competitors' prices
,D. Increasing sales volume
Correct Answer:
A. Increasing market share.
A candy manufacturer pays to have its product used prominently in an upcoming feature
film.
Which sales promotion is this an example of? - Answers - A. Product placement
B. Interruption marketing
C. Product demonstration
D. Retargeting
Correct Answer:
A. Product Placement
A company conducts monthly surveys to assess customer product satisfaction and
combines the survey results with sales data from the CRM system to adjust its
marketing strategy.
Which element of the CRM process cycle is the company using? - Answers - A.
Knowledge Discovery
B. Customer Interaction
C. Customer Acquisition
D. Analysis and Refinement.
Correct Answer:
D. Analysis and Refinement.
A company decided to distribute its new line of soft drinks in convenience stores,
grocery stores, gas stations, and vending machines.
Which type of distribution intensity is this company employing? - Answers - A. Stealth
B. Intensive
C. Exclusive
D. Selective
Correct Answer: B. Intensive
A company in a competitive industry needs to conduct an internal and external company
analysis to determine future marketing strategies.
,Which form of analysis should the company use? - Answers - A. Porter's Five Forces
B. Requirements
C. SWOT
D. Portfolio
Correct Answer: C. SWOT
A company is considering entering a foreign market for the first time but wants minimize
its risk and investment.
Which strategy should this company use? - Answers - A. Joint Venture
B. Direct Foreign investment
C. Exporting
D. Licensing
Correct Answer:
C. Exporting
A company is considering hiring its own salespeople to market its products in a foreign
country instead of using local distributors.
Which advantage to the company would be gained by taking this action? - Answers - A.
Decreased government intervention
B. Increased Control
C. Increased Market Share
D. Decreased competition
Correct Answer: B. Increased Control
A company recently expanded into a new region in hopes of driving a local competitor
out of business. To accelerate the process, the company is selling many of its products
below cost.
Which term describes the illegal pricing issue occurring in this scenario? - Answers - A.
Deceptive pricing
B. Predatory pricing
C. Price discrimination
D. Price fixing
Correct Answer:
B. Predatory pricing
, A consumer is known for finding great deals and will only make a purchase if there is a
sale. The consumer is also attracted to products that have a strong, long-standing
reputation for quality.
Which product adoption process group is this consumer in? - Answers - A. Laggards
B. Innovators
C. Late Majority
D. Early Majority
Correct Answer:
C. Late Majority
A credit reporting agency is collecting data from various institutes to assess a
consumer's creditworthiness.
Which of the four Vs does this data represent? - Answers - A. Velocity
B. Volume
C. Veracity
D. Variety
Correct Answer:
D. Variety
A department store manager has decided to price toy products below average for the
industry.
Which pricing strategy addresses this objective? - Answers - A. Odd pricing
B. Value pricing
C. Competitor-based pricing
D. Price skimming
Correct Answer:
C. Competitor-based pricing
A dog food company is tailoring its marketing strategy to family households to attract
consumers to its new dog food product.
Which market segmentation approach is this company using? - Answers - A. Behavioral
B. Demographic
C. Positioning
D. Differentiation.
AND CORRECT ANSWERS
4 CRM Elements - Answers - 1. Knowledge Discovery
2. Market Planning
3. Customer Interaction.
4. Analysis and Refinement
4 Regional Market Zones - Answers - 1. EU
2. NAFTA
3. MERCOSUR
4. ASEAN
A business sets a product price based on an attempt to drive competitors out of
business.
Which illegal pricing activity is this an example of? - Answers - A. Price discrimination
B. Price fixing
C. Deceptive pricing
D. Predatory pricing
Correct Answer:
D. Predatory pricing
A business sets prices based on the cost to produce products plus a markup
percentage.
Which price setting approach is the business using? - Answers - A. Cost-plus pricing
B. Demand-based pricing
C. Average-cost pricing
D. Target return pricing
Correct Answer:
A. Cost-plus pricing
A business sets prices based on the goal of attracting competitors' current customers.
Which pricing objective does this business have? - Answers - A. Increasing market
share
B. Maximizing profits
C. Matching competitors' prices
,D. Increasing sales volume
Correct Answer:
A. Increasing market share.
A candy manufacturer pays to have its product used prominently in an upcoming feature
film.
Which sales promotion is this an example of? - Answers - A. Product placement
B. Interruption marketing
C. Product demonstration
D. Retargeting
Correct Answer:
A. Product Placement
A company conducts monthly surveys to assess customer product satisfaction and
combines the survey results with sales data from the CRM system to adjust its
marketing strategy.
Which element of the CRM process cycle is the company using? - Answers - A.
Knowledge Discovery
B. Customer Interaction
C. Customer Acquisition
D. Analysis and Refinement.
Correct Answer:
D. Analysis and Refinement.
A company decided to distribute its new line of soft drinks in convenience stores,
grocery stores, gas stations, and vending machines.
Which type of distribution intensity is this company employing? - Answers - A. Stealth
B. Intensive
C. Exclusive
D. Selective
Correct Answer: B. Intensive
A company in a competitive industry needs to conduct an internal and external company
analysis to determine future marketing strategies.
,Which form of analysis should the company use? - Answers - A. Porter's Five Forces
B. Requirements
C. SWOT
D. Portfolio
Correct Answer: C. SWOT
A company is considering entering a foreign market for the first time but wants minimize
its risk and investment.
Which strategy should this company use? - Answers - A. Joint Venture
B. Direct Foreign investment
C. Exporting
D. Licensing
Correct Answer:
C. Exporting
A company is considering hiring its own salespeople to market its products in a foreign
country instead of using local distributors.
Which advantage to the company would be gained by taking this action? - Answers - A.
Decreased government intervention
B. Increased Control
C. Increased Market Share
D. Decreased competition
Correct Answer: B. Increased Control
A company recently expanded into a new region in hopes of driving a local competitor
out of business. To accelerate the process, the company is selling many of its products
below cost.
Which term describes the illegal pricing issue occurring in this scenario? - Answers - A.
Deceptive pricing
B. Predatory pricing
C. Price discrimination
D. Price fixing
Correct Answer:
B. Predatory pricing
, A consumer is known for finding great deals and will only make a purchase if there is a
sale. The consumer is also attracted to products that have a strong, long-standing
reputation for quality.
Which product adoption process group is this consumer in? - Answers - A. Laggards
B. Innovators
C. Late Majority
D. Early Majority
Correct Answer:
C. Late Majority
A credit reporting agency is collecting data from various institutes to assess a
consumer's creditworthiness.
Which of the four Vs does this data represent? - Answers - A. Velocity
B. Volume
C. Veracity
D. Variety
Correct Answer:
D. Variety
A department store manager has decided to price toy products below average for the
industry.
Which pricing strategy addresses this objective? - Answers - A. Odd pricing
B. Value pricing
C. Competitor-based pricing
D. Price skimming
Correct Answer:
C. Competitor-based pricing
A dog food company is tailoring its marketing strategy to family households to attract
consumers to its new dog food product.
Which market segmentation approach is this company using? - Answers - A. Behavioral
B. Demographic
C. Positioning
D. Differentiation.
