Marketing Management (D174)
Struggling with MKTG 2150 D174 Marketing Management?
Ulosca's study pack is your ultimate solution! For just $30/month, you get 200+ expertly crafted Q&A with detailed rationales, simplifying complex concepts like market analysis, consumer behavior, and strategic planning. Designed for WGU students, our materials ensure clarity and confidence. With this exam prep material, you’re guaranteed a 100% pass rate in proctored exams.
Affordable, reliable, and effective—your success starts here! Join now at Ulosca and ace MKTG 2150 effortlessly!
Rated 4.8/5 from over 1000+ reviews
- Unlimited Exact Practice Test Questions
- Trusted By 200 Million Students and Professors
What’s Included:
- Unlock 100 + Actual Exam Questions and Answers for Marketing Management (D174) on monthly basis
- Well-structured questions covering all topics, accompanied by organized images.
- Learn from mistakes with detailed answer explanations.
- Easy To understand explanations for all students.
Free Marketing Management (D174) Questions
The five types of power available to the producer to elicit cooperation from channel members include all of the following EXCEPT
-
Expert
-
Position
-
Coercive
-
Referent
- Reward
Explanation
Correct Answer
B. Position
Explanation
In marketing channels, power dynamics influence how producers and channel members interact. The five types of power are:
- Expert Power – When a company has specialized knowledge or expertise that others rely on.
- Coercive Power – The ability to punish or impose negative consequences to influence behavior.
- Referent Power – Influence derived from admiration or association with a strong brand or leader.
- Reward Power – The ability to provide incentives or benefits for compliance.
- Legitimate Power – Authority that comes from formal agreements or contracts, not "position" as a standalone power.
Why other options are wrong
A. Expert. This is a valid type of power, as expertise can influence channel decisions.
C. Coercive. This is a recognized type of power, where threats or penalties drive cooperation.
D. Referent. This is based on the influence of brand reputation or association.
E. Reward. This involves incentives to encourage cooperation, making it a legitimate type of power.
Which of the following statements accurately describes the implications of excess demand in a market
-
Prices tend to decrease as suppliers try to attract more customers.
-
Suppliers may increase prices due to the higher demand than supply
-
The market will reach equilibrium without any intervention.
-
Consumers will have an abundance of choices available.
Explanation
Correct Answer B: Suppliers may increase prices due to the higher demand than supply.
Explanation
When there is excess demand in a market, it means that the quantity demanded exceeds the quantity supplied. This typically results in suppliers raising prices to take advantage of higher demand and to balance supply and demand. The price increase continues until the market reaches equilibrium.
Why other options are wrong
A. Prices tend to decrease as suppliers try to attract more customers. This is incorrect because excess demand means that there are already more buyers than available products, so suppliers have no incentive to lower prices.
C. The market will reach equilibrium without any intervention. While markets often move toward equilibrium, price adjustments or external factors like government intervention may be required to correct excess demand.
D. Consumers will have an abundance of choices available. In reality, excess demand leads to product shortages, making choices more limited rather than abundant.
Cooperative branding is
-
Private labeling with a major brand
-
Placing one brand in another as a form of cooperation
-
The joint venture of two or more brands in one product
-
The marketing of two brands together to encourage co-consumption
Explanation
Correct Answer C: The joint venture of two or more brands in one product
Explanation
Cooperative branding involves a partnership between two or more brands to create a single product that combines the strengths of each brand. This collaboration allows both brands to benefit from the association and share the risks and rewards.
Why other options are wrong
A. Private labeling with a major brand. Private labeling refers to a retailer selling products under its own brand, not necessarily involving cooperation between different brands.
B. Placing one brand in another as a form of cooperation. This may refer to co-branding, but it is not the exact definition of cooperative branding.
D. The marketing of two brands together to encourage co-consumption. This describes a co-marketing or bundling strategy, not cooperative branding, which involves more integration between brands in a single product.
What is the definition of Utility according to the text
-
The conversion of raw materials into finished products
-
The power of a good or service
-
The creation of value through marketing
-
The synthesis of activities in a firm
Explanation
Correct Answer B: The power of a good or service
Explanation
Utility refers to the power of a good or service to satisfy consumer needs and wants. It is a fundamental concept in marketing that explains why products and services have value to consumers. Utility can be enhanced through various factors such as form, time, place, and possession.
Why other options are wrong
A. The conversion of raw materials into finished products. While this relates to form utility, it does not fully define utility as a whole, which encompasses more than just production.
C. The creation of value through marketing. Although marketing contributes to utility, utility itself is not limited to marketing but rather to the inherent ability of a product or service to fulfill a need.
D. The synthesis of activities in a firm. This definition is too broad and does not specifically describe utility, which is focused on consumer satisfaction.
A fashion manufacturer develops a handbag with a port and an embedded electronic device that prevents thieves from stealing information from the phone or any other electronic device in the handbag. Which point of differentiation is associated with this handbag
-
Form
-
Reliability
-
Features
-
Quality
Explanation
Correct Answer C: Features
Explanation
Features refer to unique characteristics or functionalities added to a product to enhance its appeal or usability. The embedded electronic device for security is an additional feature that differentiates this handbag from others in the market.
Why other options are wrong
A. Form. – Form refers to the physical shape and design of a product, not the additional functionality it provides.
B. Reliability. – Reliability is about consistent performance over time. While the security feature enhances protection, it does not relate to overall reliability.
D. Quality. – Quality represents overall durability and performance but does not specifically describe unique functionalities like the embedded security device.
Which of the following is not an example of psychological pricing
-
Selling at a farmers market
-
Pricing an item at $1.99 rather than $2.00
-
Selling 3 items for $10.00
-
Using larger packaging
Explanation
Correct Answer A: Selling at a farmers market
Explanation
Psychological pricing influences consumer perception through pricing strategies such as charm pricing ($1.99 instead of $2.00), bundle pricing (3 for $10), or using packaging to imply greater value. Simply selling at a farmers market does not use psychological pricing techniques.
Why other options are wrong
B. Pricing an item at $1.99 rather than $2.00. This is a classic example of charm pricing, making a price seem lower than it is.
C. Selling 3 items for $10.00. This is bundle pricing, which creates the perception of a deal.
D. Using larger packaging. This influences perceived value, a psychological pricing tacticts
What type of content can be repurposed for earned promotion in the campaign
-
Podcast episode featuring the device
-
Text-based advertisement for social media
-
Print media advertisement
-
Instagram influencer showcasing benefits
Explanation
Correct Answer D: Instagram influencer showcasing benefits.
Explanation
Earned promotion refers to exposure gained organically rather than through direct advertising payments. When an Instagram influencer shares content about a product, it generates engagement through likes, shares, and comments, allowing the message to spread naturally. This method builds credibility because influencers often have dedicated audiences that trust their recommendations. Additionally, influencer promotions can trigger user-generated content and discussions, further amplifying the brand’s reach without additional costs.
Why other options are wrong
A. Podcast episode featuring the device. While a podcast episode can be an effective marketing tool, it is primarily considered owned media rather than earned media. The brand controls the content and distribution, meaning it does not rely on organic promotion. Additionally, podcasts require an audience to seek out the content rather than spreading virally through external sources. Unlike influencer marketing, podcasts typically do not create immediate widespread social engagement.
B. Text-based advertisement for social media. Advertisements on social media are a form of paid media, not earned media, since they require direct financial investment to appear in users’ feeds. Paid ads do not rely on organic sharing or influencer endorsement, which are key characteristics of earned promotion. Furthermore, most social media users recognize sponsored content and engage differently with it compared to authentic, influencer-driven posts.
C. Print media advertisement. Print media advertisements are also a type of paid promotion, as businesses must purchase ad space in newspapers or magazines. They do not rely on organic sharing or word-of-mouth, which are central to earned media strategies. Additionally, print ads have a limited reach compared to digital earned media, which can spread through multiple online platforms and be reshared by audiences.
Identify the five primary activities in the Value Chain as mentioned in the text
-
Firm, Human Resources, Technology, Vendors
-
Inbound, Operations, Outbound, Marketing, Service
-
Mission, Vision, Goals, Objectives, Strategies
-
Market Segmentation, Target Marketing, Positioning, Promotional
Explanation
Correct Answer B: Inbound, Operations, Outbound, Marketing, Service
Explanation
According to Michael Porter’s value chain model, the five primary activities are:
Inbound Logistics – Managing raw materials and inventory.
Operations – Converting raw materials into final products.
Outbound Logistics – Distributing finished products to customers.
Marketing and Sales – Promoting and selling products.
Service – Post-sale support and customer service.
Why other options are wrong
A. Firm, Human Resources, Technology, Vendors. These include support activities, not primary value chain activities.
C. Mission, Vision, Goals, Objectives, Strategies. These relate to strategic planning, not the value chain.
D. Market Segmentation, Target Marketing, Positioning, Promotional. These are marketing concepts but are not primary activities in the value chain.
What are the two key marketing concepts mentioned in the text
-
Innovation and marketingCorrect Answer
-
Value and exchange
-
Product and promotion
-
Price and place
Explanation
C. Product and promotion
Why other options are wrong
A. Innovation and marketing. While innovation is important in marketing, it is not one of the two fundamental marketing concepts. Marketing focuses on delivering value and facilitating exchanges rather than just innovation.
C. Product and promotion. These are part of the marketing mix, but they do not define the core marketing principles. Marketing is not solely about products and promotional efforts but about creating and exchanging value.
D. Price and place. Price and place are elements of the marketing mix, but they do not define the essential principles of marketing. The core focus remains on value creation and exchange between businesses and consumers.
Which organizational development (OD) technique is a technique for assessing attitudes and perceptions, identifying discrepancies in these, and resolving the differences by using survey information in feedback groups
-
Team building
-
Intergroup development
-
Survey feedback
-
Sensitivity training
Explanation
Correct Answer
C. Survey feedback
Explanation
Survey feedback is an OD technique where organizations use surveys to gather data about employees' attitudes and perceptions. The results are shared with the group in feedback sessions, where discrepancies are discussed and resolved, facilitating change and improving organizational performance.
Why other options are wrong
A. Team building. Team building is an OD technique focused on improving teamwork and collaboration within a group, not specifically about addressing attitudes or perceptions through surveys.
B. Intergroup development. Intergroup development involves improving relations between different groups in an organization, not necessarily using surveys to assess attitudes.
D. Sensitivity training. Sensitivity training focuses on increasing participants' awareness of social and cultural issues, not resolving attitude discrepancies through surveys.
How to Order
Select Your Exam
Click on your desired exam to open its dedicated page with resources like practice questions, flashcards, and study guides.Choose what to focus on, Your selected exam is saved for quick access Once you log in.
Subscribe
Hit the Subscribe button on the platform. With your subscription, you will enjoy unlimited access to all practice questions and resources for a full 1-month period. After the month has elapsed, you can choose to resubscribe to continue benefiting from our comprehensive exam preparation tools and resources.
Pay and unlock the practice Questions
Once your payment is processed, you’ll immediately unlock access to all practice questions tailored to your selected exam for 1 month .
Study Notes for MKTG 2150 D174: Marketing Management
1. Introduction to Marketing Management
Marketing management involves planning, executing, and controlling marketing activities to meet organizational goals. It focuses on understanding customer needs, creating value, and building strong customer relationships.
- Marketing Concept: A philosophy that emphasizes customer satisfaction as the key to achieving organizational goals.
- Value Proposition: The unique value a product or service offers to customers.
2. Key Concepts in Marketing
The 4Ps framework helps marketers develop effective strategies:
- Product: The goods or services offered to customers.
- Price: The amount customers pay for the product.
- Place: The distribution channels used to deliver the product.
- Promotion: The communication strategies used to inform and persuade customers.
Market Segmentation, Targeting, and Positioning (STP)
- Segmentation: Dividing the market into distinct groups based on demographics, psychographics, or behavior.
- Targeting: Selecting the most attractive segments to focus on.
- Positioning: Creating a unique image of the product in the minds of the target audience.
Consumer Behavior
Understanding how consumers make purchasing decisions is crucial for effective marketing.
- Factors Influencing Behavior: Cultural, social, personal, and psychological factors.
- Decision-Making Process: Problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.
3. Marketing Strategies
The stages a product goes through from introduction to decline:
- Introduction: Launching the product and building awareness.
- Growth: Increasing sales and market share.
- Maturity: Maximizing profits and defending market share.
- Decline: Sales decrease, and the product may be phased out.
- Cost-Based Pricing: Setting prices based on production costs plus a markup.
- Value-Based Pricing: Setting prices based on perceived customer value.
- Competitive Pricing: Setting prices based on competitors’ pricing.
The pathways through which products reach customers:
- Direct Channels: Selling directly to customers (e.g., online stores).
- Indirect Channels: Using intermediaries like wholesalers and retailers.
- Advertising: Paid communication to promote products (e.g., TV ads, social media).
- Sales Promotion: Short-term incentives to boost sales (e.g., discounts, coupons).
- Public Relations: Building a positive image through media coverage and events.
4. Digital Marketing and Analytics
Social Media Marketing
Using platforms like Facebook, Instagram, and Twitter to engage with customers and promote products.
- Benefits: Cost-effective, wide reach, and real-time interaction.
- Challenges: Managing negative feedback and staying relevant.
Search Engine Optimization (SEO)
Optimizing website content to rank higher in search engine results.
- Keywords: Using relevant terms to attract organic traffic.
- Backlinks: Building links from reputable sites to improve authority.
Using data analytics to make informed marketing decisions.
- Customer Insights: Analyzing data to understand preferences and behavior.
- Personalization: Tailoring marketing messages to individual customers.
Frequently Asked Question
The study pack includes 200+ expertly crafted Q&A with detailed rationales covering key marketing concepts like market analysis, consumer behavior, and strategic planning.
The subscription is $30 per month, granting you full access to all study materials.
Yes! The materials are tailored for WGU’s MKTG 2150 course to align with exam expectations.
Absolutely! Our expertly crafted Q&A ensures 100% pass success for students who study effectively.
Yes, we continuously update our content to match current exam formats and topics.
Once you subscribe, you will receive instant access to all study materials on ulosca.com.
Many students report better understanding and confidence within just a few days of using our materials.
You can sign up at ulosca.com and start preparing for MKTG 2150 today!