D174 WGU
WGU D174 Marketing Management Exam
Questions and Answers 2025
Microeconomics
The study of individual economic activity (firm, household, or prices)
Macroeconomics
The study of economic activity in terms of broad measures of output and input (GDP,
Inflation)
Market Information System (MIS)
A continuing process of identifying, collecting, analyzing, accumulating, and dispensing
critical information to marketing decision makers
Marketing Intelligence
Collecting, analyzing, and storing data from the macro environment on a continuous
basis
4 product issues facing international marketers
1. Quality
2. Fitting the product to the culture
3. Brand strategy
4. Country of origin effect
4 forces that drive higher costs and price escalation in global markets
1. Product export costs
2. Tariffs, Import fees, Taxes
3. Exchange rate fluctuations
4. Middlemen & Transportation Costs
External factors affecting marketing decisions
Economic conditions
Natural world
Competition
Political/Legal
D174 WGU
,D174 WGU
Technology Transformations
Demographics
Dimensions of Service Quality
Tangibles, Reliability, Responsiveness, Assurance, Empathy
SERVQUAL
a multiple-item scale used to measure service quality across dimensions of tangibles,
reliability, responsiveness, assurance, and empathy
Value Pricing
Pricing strategy that sets the price of a product or service according to its perceived or
estimated value to the customer
Competitor-Based Pricing
A pricing strategy in which a firm decides to set prices at some market average price in
context with prices of competitors
Stability Pricing
A pricing strategy in which a firm attempts to find a neutral set point for price that is
neither low enough to raise the ire of competition nor high enough to put the value
proposition at risk with customers
Bait and Switch
A store advertises bargains that do not really exist to lure customers in, in hopes that
they will buy more expensive merchandise.
Prestige Pricing
Setting a rather high price to suggest high quality or high status
Everday Low Prices (EDLP)
Consistently low prices with no intention of raising them or offering discounts in the
future
High/Low Pricing
A pricing strategy that relies on the promotion of sales, during which prices are
temporarily reduced to encourage purchases
Cost Leadership Strategy (Competitive Strategy Matrix)
D174 WGU
,D174 WGU
Lower Cost, Broad Target
EX: Aldi
Service Profit Chain
1. Internal service quality
2. Employee Satisfaction
3. Employee Retention and Productivity
4. External Service Value
5. Customer Satisfaction
6. Customer Loyalty
7. Revenue Growth and Profitability
Search Attributes
Aspects of an offering that are physically observable before consumption
Experience Attributes
Aspects of an offering that can be evaluated only during or after consumption. EX:
Haircut
Credence Attributes
Aspects of an offering for which customers cannot make a reasonable evaluation, even
after use
Gap Analysis
A marketing research method that measures the difference between a customer's
expectation of a service quality and what actually occurred
Cost Reduction
Actions taken by a business aimed at reducing total costs, or lowering average unit costs
Stages of Consumer Adoption Process
1. Awareness
2. Interest
3. Evaluation
4. Trial
5. Adoption
D174 WGU
, D174 WGU
Product Life Cycle
Introduction, Growth, Maturity, Decline
Convenience Goods
Inexpensive items that consumers purchase regularly without much thought
Shopping Goods
Items purchased after comparing prices and features.
Specialty Goods
Expensive, rarely purchased physical goods
Unsought Goods
Products that consumers don't want to buy or don't seek out
Tangibility
The degree of perceivable, physical essence of a product
Durability
Ability of an item to last a long time
Nondurable Products
Usually consumed in a few uses and in general, cost less than durable products
Durable Products
These products are made to last a long time and be maintained and repaired or able to
replace certain parts of it
Content Filtering
An analytic method that identifies which products or services to recommend based on a
determination of how similar a product or service seems to be to those that the
customer has demonstrated a preference for in the past, or is currently considering
Collaborative Filtering
Predicts a customer's preferences for products or services based on the observed
preferences of customers who are perceived to be similar
Descriptive Analytics
D174 WGU
WGU D174 Marketing Management Exam
Questions and Answers 2025
Microeconomics
The study of individual economic activity (firm, household, or prices)
Macroeconomics
The study of economic activity in terms of broad measures of output and input (GDP,
Inflation)
Market Information System (MIS)
A continuing process of identifying, collecting, analyzing, accumulating, and dispensing
critical information to marketing decision makers
Marketing Intelligence
Collecting, analyzing, and storing data from the macro environment on a continuous
basis
4 product issues facing international marketers
1. Quality
2. Fitting the product to the culture
3. Brand strategy
4. Country of origin effect
4 forces that drive higher costs and price escalation in global markets
1. Product export costs
2. Tariffs, Import fees, Taxes
3. Exchange rate fluctuations
4. Middlemen & Transportation Costs
External factors affecting marketing decisions
Economic conditions
Natural world
Competition
Political/Legal
D174 WGU
,D174 WGU
Technology Transformations
Demographics
Dimensions of Service Quality
Tangibles, Reliability, Responsiveness, Assurance, Empathy
SERVQUAL
a multiple-item scale used to measure service quality across dimensions of tangibles,
reliability, responsiveness, assurance, and empathy
Value Pricing
Pricing strategy that sets the price of a product or service according to its perceived or
estimated value to the customer
Competitor-Based Pricing
A pricing strategy in which a firm decides to set prices at some market average price in
context with prices of competitors
Stability Pricing
A pricing strategy in which a firm attempts to find a neutral set point for price that is
neither low enough to raise the ire of competition nor high enough to put the value
proposition at risk with customers
Bait and Switch
A store advertises bargains that do not really exist to lure customers in, in hopes that
they will buy more expensive merchandise.
Prestige Pricing
Setting a rather high price to suggest high quality or high status
Everday Low Prices (EDLP)
Consistently low prices with no intention of raising them or offering discounts in the
future
High/Low Pricing
A pricing strategy that relies on the promotion of sales, during which prices are
temporarily reduced to encourage purchases
Cost Leadership Strategy (Competitive Strategy Matrix)
D174 WGU
,D174 WGU
Lower Cost, Broad Target
EX: Aldi
Service Profit Chain
1. Internal service quality
2. Employee Satisfaction
3. Employee Retention and Productivity
4. External Service Value
5. Customer Satisfaction
6. Customer Loyalty
7. Revenue Growth and Profitability
Search Attributes
Aspects of an offering that are physically observable before consumption
Experience Attributes
Aspects of an offering that can be evaluated only during or after consumption. EX:
Haircut
Credence Attributes
Aspects of an offering for which customers cannot make a reasonable evaluation, even
after use
Gap Analysis
A marketing research method that measures the difference between a customer's
expectation of a service quality and what actually occurred
Cost Reduction
Actions taken by a business aimed at reducing total costs, or lowering average unit costs
Stages of Consumer Adoption Process
1. Awareness
2. Interest
3. Evaluation
4. Trial
5. Adoption
D174 WGU
, D174 WGU
Product Life Cycle
Introduction, Growth, Maturity, Decline
Convenience Goods
Inexpensive items that consumers purchase regularly without much thought
Shopping Goods
Items purchased after comparing prices and features.
Specialty Goods
Expensive, rarely purchased physical goods
Unsought Goods
Products that consumers don't want to buy or don't seek out
Tangibility
The degree of perceivable, physical essence of a product
Durability
Ability of an item to last a long time
Nondurable Products
Usually consumed in a few uses and in general, cost less than durable products
Durable Products
These products are made to last a long time and be maintained and repaired or able to
replace certain parts of it
Content Filtering
An analytic method that identifies which products or services to recommend based on a
determination of how similar a product or service seems to be to those that the
customer has demonstrated a preference for in the past, or is currently considering
Collaborative Filtering
Predicts a customer's preferences for products or services based on the observed
preferences of customers who are perceived to be similar
Descriptive Analytics
D174 WGU
