WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
1. Value represents ... all the benefits you get
from a product
2. Exchange represents ... process of giving some-
thing to gain something
3. 7 Problems in Marketing (American Marketing Asso- 1. Effectively targeting
cation) high value sources of
growth
2. The role o marketing in
the firm and C-suite
3. The digital transforma-
tion of the modern corpo-
ration
4. Generating and using
insight to shape market-
ing practices
5. Dealing with an om-
nichannel world
6. Competing in dynamic,
global markets
7. Balancing incremental
and radical innovations
4. Production Orientation Where a company's fo-
cus is on building a high
quality product instead of
meeting customers needs
5. Sales Orientation Business model that fo-
cused on making the
best product and services
, WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
without considering cus-
tomers needs and wants
6. Customer Orientation When a business puts
customers needs over the
needs of the business
7. Market Orientation Implementation of the
marketing concept, based
on an understanding of
customers and competi-
tors
8. The extended marketing mix consists of the 7Ps. People, Processes, Physi-
What are the three additional Ps that extend the tra- cal Evidence (Physical En-
ditional 4Ps? viroment)
People
Price
Processes
Physical evidence
Pay per click (PPC)
Production
9. The Industrial Revolution changed the focus of busi- Mass
nesses from producing one item at a time to xxx pro- Price
duction. The xxx of goods went down, but consumers
did not have much choice in style or function.
10. What are the 4Ps of the marketing mix? Product, Price, Place, Pro-
motion
11.
, WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
Consumers weight the xxx of a product versus the Benefits
cost to determine the value. Companies that practice Trust
ethical and sustainable marketing gain greater xxx
from their customers
12. The triple bottom line metric is used for measuring False
the financial results of the company but does not ac-
count for equitable, economic, or environmental con-
siderations.
True or false
13. The triple bottom line means marketers should bal- People
ance how company decisions impact various ele-
ments.
Which element is part of the triple bottom line?
Peers
People
Pricing
Politics
14. There are a few common misconceptions about mar- Selling
keting. One of them is that it is only about advertising Cost center
and xxx. Another is that marketing is a(n) xxx
15. For any exchange to take place, the following five Two
conditions must be present. There must be at least Delivery
xxx parties. Each party has something that might be
of value to the other party. Each party is capable of
communication and xxx. Each party is free to accept
or reject the exchange off.er Each party believes it is
appropriate or desirable to work with the other party.
, WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
16. The AMA defines marketing as "the activity of insti- Customer-centric
tutions, and processes for creating, communicating, Exchange
delivering, and exchanging offers that have value for
customers, clients, partners, and society at large"
The AMA takes a very xxx approach, with value and
xxx as core marketing concepts
17. The AMA has identfied seven big problems facing mar- Generating and using in-
keters. Select two from the list below sight to shape marketing
practices
Generating and using insight to shape marketing Balancing incremental
practices and radical innovation
Communicating with customers is limited to few chan-
nels
Improving marketing campaigns without sufficient
data
Balancing incremental and radical innovation
18. Sara bought a new designer purse for her birthday. Value
She had never spent that much on a purse, but she
decided it was worth the money because it was ele-
gant. What describes Sara's perception of buying the
purse?
Competition
Exchange
Value
Utility
19. Graduates of marketing can work with a variety of marketing
types of organizations including public, nonprofit, Businesses
small, medium, and large enterprises. In the market-
and CORRECT Answers
1. Value represents ... all the benefits you get
from a product
2. Exchange represents ... process of giving some-
thing to gain something
3. 7 Problems in Marketing (American Marketing Asso- 1. Effectively targeting
cation) high value sources of
growth
2. The role o marketing in
the firm and C-suite
3. The digital transforma-
tion of the modern corpo-
ration
4. Generating and using
insight to shape market-
ing practices
5. Dealing with an om-
nichannel world
6. Competing in dynamic,
global markets
7. Balancing incremental
and radical innovations
4. Production Orientation Where a company's fo-
cus is on building a high
quality product instead of
meeting customers needs
5. Sales Orientation Business model that fo-
cused on making the
best product and services
, WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
without considering cus-
tomers needs and wants
6. Customer Orientation When a business puts
customers needs over the
needs of the business
7. Market Orientation Implementation of the
marketing concept, based
on an understanding of
customers and competi-
tors
8. The extended marketing mix consists of the 7Ps. People, Processes, Physi-
What are the three additional Ps that extend the tra- cal Evidence (Physical En-
ditional 4Ps? viroment)
People
Price
Processes
Physical evidence
Pay per click (PPC)
Production
9. The Industrial Revolution changed the focus of busi- Mass
nesses from producing one item at a time to xxx pro- Price
duction. The xxx of goods went down, but consumers
did not have much choice in style or function.
10. What are the 4Ps of the marketing mix? Product, Price, Place, Pro-
motion
11.
, WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
Consumers weight the xxx of a product versus the Benefits
cost to determine the value. Companies that practice Trust
ethical and sustainable marketing gain greater xxx
from their customers
12. The triple bottom line metric is used for measuring False
the financial results of the company but does not ac-
count for equitable, economic, or environmental con-
siderations.
True or false
13. The triple bottom line means marketers should bal- People
ance how company decisions impact various ele-
ments.
Which element is part of the triple bottom line?
Peers
People
Pricing
Politics
14. There are a few common misconceptions about mar- Selling
keting. One of them is that it is only about advertising Cost center
and xxx. Another is that marketing is a(n) xxx
15. For any exchange to take place, the following five Two
conditions must be present. There must be at least Delivery
xxx parties. Each party has something that might be
of value to the other party. Each party is capable of
communication and xxx. Each party is free to accept
or reject the exchange off.er Each party believes it is
appropriate or desirable to work with the other party.
, WGU Marketing Management D174 UPDATED ACTUAL Questions
and CORRECT Answers
16. The AMA defines marketing as "the activity of insti- Customer-centric
tutions, and processes for creating, communicating, Exchange
delivering, and exchanging offers that have value for
customers, clients, partners, and society at large"
The AMA takes a very xxx approach, with value and
xxx as core marketing concepts
17. The AMA has identfied seven big problems facing mar- Generating and using in-
keters. Select two from the list below sight to shape marketing
practices
Generating and using insight to shape marketing Balancing incremental
practices and radical innovation
Communicating with customers is limited to few chan-
nels
Improving marketing campaigns without sufficient
data
Balancing incremental and radical innovation
18. Sara bought a new designer purse for her birthday. Value
She had never spent that much on a purse, but she
decided it was worth the money because it was ele-
gant. What describes Sara's perception of buying the
purse?
Competition
Exchange
Value
Utility
19. Graduates of marketing can work with a variety of marketing
types of organizations including public, nonprofit, Businesses
small, medium, and large enterprises. In the market-
