Question 1

Companies that successfully practice customer relationship management measure success by ________.

Accepted Answer

A) share of market and market growth rate 
B) business potential and industry potential 
C) share of customer and lifetime value of the customer 
D) PRIZM and VALS™ 
E) cost of customer and duration of relationship with customer 
A) share of market and market growth rate 
B) business potential and industry potential 
C) share of customer and lifetime value of the customer 
D) PRIZM and VALS™ 
E) cost of customer and duration of relationship with customer C

Question 2

Explain the relationship between one-to-one marketing and CRM.

Accepted Answer

One-to-one marketing is the concept of the company identifying and then addressing the specific needs and demands of its individual customers.The key to doing this is the implementation of CRM,customer relationship management.CRM helps companies get to know customers in as much detail as possible,differentiate among these customers,and then interact with customers in more cost-efficient and effective ways.Finally,a CRM system will help a company customize some or all aspects of its goods and services based on what has been learned through customer interactions.

Question 3

Through ________,a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.

Accepted Answer

A) cost per impression pricing 
B) conversion rates 
C) search engine optimization 
D) search engine analytics 
E) predictive analytics 
A) cost per impression pricing 
B) conversion rates 
C) search engine optimization 
D) search engine analytics 
E) predictive analytics A

Question 4

CRM programs facilitate communication from a company to its customers and from customers to the company.

Accepted Answer

A) True 
 B)False

Question 5

CRM and ERP databases are examples of ________ sources of Big Data.

Accepted Answer

A) social media 
B) NGO 
C) commercial entity 
D) government 
E) corporate 
A) social media 
B) NGO 
C) commercial entity 
D) government 
E) corporate

Question 6

It is just as expensive for a company to retain good customers as it is to acquire customers.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true about unstructured data?

Accepted Answer

A) It cannot be combined with other data sources. 
B) Computer logic programs can identify and extract patterns in it. 
C) It must be analyzed manually. 
D) It is less valuable than structured data in terms of providing insights into customer behavior. 
E) It is more likely to come from direct sources than indirect sources. 
A) It cannot be combined with other data sources. 
B) Computer logic programs can identify and extract patterns in it. 
C) It must be analyzed manually. 
D) It is less valuable than structured data in terms of providing insights into customer behavior. 
E) It is more likely to come from direct sources than indirect sources.

Question 8

CRM firms focus on increasing their share of ________,not share of market.

Accepted Answer

A) profit 
B) audience 
C) segment 
D) usage 
E) customers 
A) profit 
B) audience 
C) segment 
D) usage 
E) customers

Question 9

Through the data mining application of ________,marketers offer promotions to noncustomers who share demographic characteristics with current customers.

Accepted Answer

A) customer retention 
B) customer loyalty 
C) customer acquisition 
D) customer abandonment 
E) market basket analysis 
A) customer retention 
B) customer loyalty 
C) customer acquisition 
D) customer abandonment 
E) market basket analysis

Question 10

Big Data would most likely be measured in which of the following?

Accepted Answer

A) megabytes 
B) bytes 
C) bits 
D) megabits 
E) terabytes 
A) megabytes 
B) bytes 
C) bits 
D) megabits 
E) terabytes

Question 11

Which of the following is the most accurate comparison of structured and unstructured data?

Accepted Answer

A) More unstructured data than structured data is created every day. 
B) More structured data than unstructured data is created every day. 
C) Computers can organize and understand structured data but not unstructured data. 
D) Computers can organize and understand unstructured data but not structured data. 
E) Data mining and analysis has historically focused on unstructured data rather than structured data. 
A) More unstructured data than structured data is created every day. 
B) More structured data than unstructured data is created every day. 
C) Computers can organize and understand structured data but not unstructured data. 
D) Computers can organize and understand unstructured data but not structured data. 
E) Data mining and analysis has historically focused on unstructured data rather than structured data.

Question 12

A ________ is someone who searches through multiple,disparate data sources in order to discover insights that will provide a competitive advantage.

Accepted Answer

A) search engine optimizer 
B) data broker 
C) data warehouser 
D) data scientist 
E) reality miner 
A) search engine optimizer 
B) data broker 
C) data warehouser 
D) data scientist 
E) reality miner

Question 13

The marketing team for Lots-o-Chocolate wants to understand the effectiveness of the different components of its digital marketing campaign and put more resources toward its three top-performing sites for ads.How can the marketing team use marketing metrics and marketing control to achieve their objective?

Accepted Answer

Marketing metrics are specific measures

Question 14

Theresa Fielding owns an Internet company that sells gift baskets.Each customer can pick out what she wants in the basket to make it a personalized gift.Theresa has demographic information about buyers stored in the company database.The database also has the address of each basket recipient,when each basket was sent,the contents of each basket,and if it was sent for a special occasion.How could Theresa use this database?

Accepted Answer

Theresa has an opportunity to engage in

Question 15

The marketing team for the charity American Harvest,a national food bank program,wants to understand the effectiveness of its fundraising efforts in comparison to those of similar charities such as Action Against Hunger and Feed America.American Harvest will most likely use the metric of ________.

Accepted Answer

A) customer equity 
B) conversion rate 
C) market share 
D) share of customer 
E) bounce rate 
A) customer equity 
B) conversion rate 
C) market share 
D) share of customer 
E) bounce rate

Question 16

Which of the following statements about the lifetime value of a customer is true?

Accepted Answer

A) CRM helps companies identify their customers' lifetime value. 
B) All customers have the same lifetime value. 
C) A customer's lifetime value is easy to calculate. 
D) A company can either increase customer share or a customer's lifetime value,but not both. 
E) The value of the customer is related to the value of the brand. 
A) CRM helps companies identify their customers' lifetime value. 
B) All customers have the same lifetime value. 
C) A customer's lifetime value is easy to calculate. 
D) A company can either increase customer share or a customer's lifetime value,but not both. 
E) The value of the customer is related to the value of the brand.

Question 17

Compare and contrast the concepts of lifetime value of a customer and customer equity.

Accepted Answer

The lifetime value of a customer is the

Question 18

Which of the following is an example of digital advertising?

Accepted Answer

A) television commercial 
B) billboard 
C) search ad 
D) print magazine ad 
E) print newspaper ad 
A) television commercial 
B) billboard 
C) search ad 
D) print magazine ad 
E) print newspaper ad

Question 19

Every action you take online leaves a digital imprint,data that can be used to create valuable insights into consumer behavior.

Accepted Answer

A) True 
 B)False

Question 20

Walmart's Retail Link provides real time purchase data to suppliers of goods sold at Walmart stores.Retail Link is an example of a ________ source of Big Data.

Accepted Answer

A) social media 
B) partner database 
C) commercial entity 
D) government 
E) corporate information technology 
A) social media 
B) partner database 
C) commercial entity 
D) government 
E) corporate information technology

Companies that successfully practice customer relationship management measure success by ________.

Explain the relationship between one-to-one marketing and CRM.

Through ________,a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.

CRM programs facilitate communication from a company to its customers and from customers to the company.

CRM and ERP databases are examples of ________ sources of Big Data.

It is just as expensive for a company to retain good customers as it is to acquire customers.

Which of the following is true about unstructured data?

CRM firms focus on increasing their share of ________,not share of market.

Through the data mining application of ________,marketers offer promotions to noncustomers who share demographic characteristics with current customers.

Big Data would most likely be measured in which of the following?

Which of the following is the most accurate comparison of structured and unstructured data?

A ________ is someone who searches through multiple,disparate data sources in order to discover insights that will provide a competitive advantage.

The marketing team for the charity American Harvest,a national food bank program,wants to understand the effectiveness of its fundraising efforts in comparison to those of similar charities such as Action Against Hunger and Feed America.American Harvest will most likely use the metric of ________.

Which of the following statements about the lifetime value of a customer is true?

Compare and contrast the concepts of lifetime value of a customer and customer equity.

Which of the following is an example of digital advertising?

Every action you take online leaves a digital imprint,data that can be used to create valuable insights into consumer behavior.

Walmart's Retail Link provides real time purchase data to suppliers of goods sold at Walmart stores.Retail Link is an example of a ________ source of Big Data.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

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Exam 5: Marketing Analytics: Welcome to the Era of Big Data

Companies that successfully practice customer relationship management measure success by ________.

Explain the relationship between one-to-one marketing and CRM.

Through ________,a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.

CRM programs facilitate communication from a company to its customers and from customers to the company.

CRM and ERP databases are examples of ________ sources of Big Data.

It is just as expensive for a company to retain good customers as it is to acquire customers.

Which of the following is true about unstructured data?

CRM firms focus on increasing their share of ________,not share of market.

Through the data mining application of ________,marketers offer promotions to noncustomers who share demographic characteristics with current customers.

Big Data would most likely be measured in which of the following?

Which of the following is the most accurate comparison of structured and unstructured data?

A ________ is someone who searches through multiple,disparate data sources in order to discover insights that will provide a competitive advantage.

The marketing team for the charity American Harvest,a national food bank program,wants to understand the effectiveness of its fundraising efforts in comparison to those of similar charities such as Action Against Hunger and Feed America.American Harvest will most likely use the metric of ________.

Which of the following statements about the lifetime value of a customer is true?

Compare and contrast the concepts of lifetime value of a customer and customer equity.

Which of the following is an example of digital advertising?

Every action you take online leaves a digital imprint,data that can be used to create valuable insights into consumer behavior.

Walmart's Retail Link provides real time purchase data to suppliers of goods sold at Walmart stores.Retail Link is an example of a ________ source of Big Data.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters