D 174 D174 Final Exam Guide

D 174 / D174 Final Exam Guide (Latest Update 2025 / 2026) Marketing Management | Questions and Answers | Grade A | 100% Correct (Verified Answers) - WGU

Question:

Why are firms largely reluctant to invest in delivering great service?

Answer:

It takes time & patience before ROI is noticeable

Question:

Which service attribute cannot be evaluated even after consumption because the customer does not have expertise to do so?

Answer:

Credence

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Question:

In the service-profit chain, customer satisfaction leads to customer loyalty and results in?

Answer:

Revenue growth & profitability

Question:

pricing objectives

Answer:

The desired or expected results associated with a pricing strategy that is consistent with other marketing-related objectives.

Question:

price skimming

Answer:

occurs when a product enters a market at a relatively high price so the product is associated with high quality

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Question:

penetration pricing

Answer:

setting a low initial price on a new product to appeal immediately to the mass market to gain market share

Question:

profit maximization

Answer:

A method of setting prices that occurs when marginal revenue equals marginal cost. (target return on investment)

Question:

competitor-based pricing

Answer:

A pricing method used to set price for a product or service based on the competitor's product prices.benchmark the competition

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Question:

stability pricing

Answer:

finding a neutral price point that is both satisfying to customers and not overly competitive in the market.

Question:

value pricing

Answer:

is an overarching strategy incorporated into many different pricing strategies because its focus is on communicating (positioning through price) the perceived product value to customers

Question:

price elasticity of demand

Answer:

% change in quantity demanded / % change in price

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