If you ask me, the answer would be 'it is more to do with practice than anything else'. If the same problem is on my math paper(school level). I would have done it this way.
(12^x)*(4^2x+1) = (2^k)*(3^2)
(4^x)*(3^x)*(4^2x+1) = (2^k)*(3^2)
(2^2x)*(3^x)*(4^2x+1) = (2^k)*(3^2)
(2^2x)*(3^x)*(2^2*(2x+1)) = (2^k)*(3^2)
(2^2x)*(3^x)*(2^4x+2) = (2^k)*(3^2)
(2^2x)*(2^4x+2)*(3^x) = (2^k)*(3^2)
(2^(2x+4x+2))*(3^x) = (2^k)*(3^2)
Bases are same, so we can equate the exponents
(3^x) = (3^2), Implies x = 2;
(2^(2x+4x+2))=(2^k), Implies 6x+2 = k; k = (6*2)+2 = 14 (x = 2)
But if the same question is on the GMAT, I would do it the GMAT way:
As you read through the question, your hand(and the pen of course) with the assistance of your brain(again by practice) should give you an equation as shown below by the time you finish reading the question.
2^(6x+2) * (3^x) = (2^k) * (3^2)
x= 2 and 6x+2 = 14 (shouldn't take more than 45 seconds to solve this question in the GMAT exam.