Question 1

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

Accepted Answer

A) lifetime value of a customer 
B) priority of a customer 
C) segmentation of a customer 
D) share of a customer 
E) equity of a customer 
A) lifetime value of a customer 
B) priority of a customer 
C) segmentation of a customer 
D) share of a customer 
E) equity of a customer

Question 2

A building supply company has many high-volume customers and many low-volume customers.A CRM system would be LEAST likely to help management decide to use which of the following methods for communicating with low-volume customers?

Accepted Answer

A) Every November,send each customer a new calendar that has the phone number of the building supply company printed on the cover. 
B) Once or twice a year,mail a new product catalog to each customer. 
C) Every few months,have a customer service representative from the building supply company call each customer. 
D) Have a sales representative make a personal one-on-one appointment with every low-volume customer at least twice a month. 
E) Give each low-volume customer the company Web address to check building supply products sold by the company. 
A) Every November,send each customer a new calendar that has the phone number of the building supply company printed on the cover. 
B) Once or twice a year,mail a new product catalog to each customer. 
C) Every few months,have a customer service representative from the building supply company call each customer. 
D) Have a sales representative make a personal one-on-one appointment with every low-volume customer at least twice a month. 
E) Give each low-volume customer the company Web address to check building supply products sold by the company.

Question 3

What is the difference between a click-through rate and a conversion rate? Explain why marketers may want to use both metrics.

Accepted Answer

A click-through rate indicates the perce

Question 4

Prep for Success is an educational services company that specializes in preparing students for selective private school entrance exams.Prep for Success sends information about its services to consumers who have purchased school supplies such as backpacks and lunchboxes online and live in a community with an average household income of above $85,000 per year.This is an example of a company using ________ for data creation.

Accepted Answer

A) scanner data 
B) reality mining 
C) unstructured data 
D) direct paths 
E) indirect paths 
A) scanner data 
B) reality mining 
C) unstructured data 
D) direct paths 
E) indirect paths

Question 5

Which of the following is NOT a process included in marketing analytics?

Accepted Answer

A) collecting data about marketing efforts 
B) creating marketing efforts 
C) measuring marketing efforts 
D) analyzing marketing efforts 
E) assessing marketing efforts 
A) collecting data about marketing efforts 
B) creating marketing efforts 
C) measuring marketing efforts 
D) analyzing marketing efforts 
E) assessing marketing efforts

Question 6

Explain three ways in which Big Data can help marketers create competitive advantages.

Accepted Answer

The collection and analysis of Big Data

Question 7

Because of ________,it can be difficult to decide what data are useful and what data are not useful.

Accepted Answer

A) conversion rates 
B) predictive analytics 
C) unstructured data 
D) search engine optimization 
E) information overload 
A) conversion rates 
B) predictive analytics 
C) unstructured data 
D) search engine optimization 
E) information overload

Question 8

A data scientist is also known as a(n)________.

Accepted Answer

A) intelligent agent 
B) search engine optimizer 
C) data broker 
D) business intelligence developer 
E) reality miner 
A) intelligent agent 
B) search engine optimizer 
C) data broker 
D) business intelligence developer 
E) reality miner

Question 9

Explain how a sporting goods retailer could use both direct and indirect paths to data creation.

Accepted Answer

The retailer could use a direct path to

Question 10

Marketers can collect and analyze detailed information about consumer attitudes toward a brand from social media sources such as Facebook and Twitter.

Accepted Answer

A) True 
 B)False

Question 11

Customer relationship management (CRM)programs can systematically track customers' preferences and behaviors over time.

Accepted Answer

A) True 
 B)False

Question 12

To determine an ad's click-through rate,marketers must know both the number of click-throughs and the number of impressions.

Accepted Answer

A) True 
 B)False

Question 13

With a CRM approach,how might a firm select different methods of contacting and communicating with customers based on their value?

Accepted Answer

Using CRM,a firm would likely use the mo

Question 14

The dentist's office calling to remind you of your scheduled appointment for the next day is an example of ________.

Accepted Answer

A) CRM 
B) customer equity 
C) undifferentiated targeting 
D) share of customer 
E) repositioning 
A) CRM 
B) customer equity 
C) undifferentiated targeting 
D) share of customer 
E) repositioning

Question 15

Sora is a teenager who loves to shop for clothes.She has a points card from Trend Town,her favorite shop.Sora's card is scanned each time she makes a purchase at Trend Town,and the more she uses the card,the more special offers she receives from the shop.Managers at Trend Town are likely to use information from Sora's shopping for the purpose of customer acquisition.

Accepted Answer

A) True 
 B)False

Question 16

A firm has segmented its customers into two groups: high-volume customers and low-volume customers.Explain the different styles of communication the firm should implement to reach each group of customers.

Accepted Answer

A firm should look at the cost and time

Question 17

A company that uses data mining is unlikely to need a data warehouse,as the company's data is constantly in use.

Accepted Answer

A) True 
 B)False

Question 18

To determine ________,firms compare the investments they make in acquiring and retaining customers to the financial return on those investments.

Accepted Answer

A) segmentation 
B) share of customer 
C) brand personality 
D) customer equity 
E) positioning 
A) segmentation 
B) share of customer 
C) brand personality 
D) customer equity 
E) positioning

Question 19

The owner of a pet grooming salon wants to calculate customer equity.Which of the following would be a step the owner of this pet grooming salon should complete?

Accepted Answer

A) Compare investments made by the salon owner in acquiring the customer to the total amount of purchases made by the customer. 
B) Compare investments made by the salon owner to retain this customer to the total amount of taxes the salon owner pays. 
C) Ask the customer if she is planning on getting any new pets. 
D) Investigate how many other pet grooming salons are within five miles to determine the likelihood of this pet owner returning to this salon. 
E) Determine the age of the pet to estimate how much longer this customer may need the services of the salon. 
A) Compare investments made by the salon owner in acquiring the customer to the total amount of purchases made by the customer. 
B) Compare investments made by the salon owner to retain this customer to the total amount of taxes the salon owner pays. 
C) Ask the customer if she is planning on getting any new pets. 
D) Investigate how many other pet grooming salons are within five miles to determine the likelihood of this pet owner returning to this salon. 
E) Determine the age of the pet to estimate how much longer this customer may need the services of the salon.

Question 20

Census data 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

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

A building supply company has many high-volume customers and many low-volume customers.A CRM system would be LEAST likely to help management decide to use which of the following methods for communicating with low-volume customers?

What is the difference between a click-through rate and a conversion rate? Explain why marketers may want to use both metrics.

Which of the following is NOT a process included in marketing analytics?

Explain three ways in which Big Data can help marketers create competitive advantages.

Because of ________,it can be difficult to decide what data are useful and what data are not useful.

A data scientist is also known as a(n)________.

Explain how a sporting goods retailer could use both direct and indirect paths to data creation.

Marketers can collect and analyze detailed information about consumer attitudes toward a brand from social media sources such as Facebook and Twitter.

Customer relationship management (CRM)programs can systematically track customers' preferences and behaviors over time.

To determine an ad's click-through rate,marketers must know both the number of click-throughs and the number of impressions.

With a CRM approach,how might a firm select different methods of contacting and communicating with customers based on their value?

The dentist's office calling to remind you of your scheduled appointment for the next day is an example of ________.

A firm has segmented its customers into two groups: high-volume customers and low-volume customers.Explain the different styles of communication the firm should implement to reach each group of customers.

A company that uses data mining is unlikely to need a data warehouse,as the company's data is constantly in use.

To determine ________,firms compare the investments they make in acquiring and retaining customers to the financial return on those investments.

The owner of a pet grooming salon wants to calculate customer equity.Which of the following would be a step the owner of this pet grooming salon should complete?

Census data 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

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

A building supply company has many high-volume customers and many low-volume customers.A CRM system would be LEAST likely to help management decide to use which of the following methods for communicating with low-volume customers?

What is the difference between a click-through rate and a conversion rate? Explain why marketers may want to use both metrics.

Which of the following is NOT a process included in marketing analytics?

Explain three ways in which Big Data can help marketers create competitive advantages.

Because of ________,it can be difficult to decide what data are useful and what data are not useful.

A data scientist is also known as a(n)________.

Explain how a sporting goods retailer could use both direct and indirect paths to data creation.

Marketers can collect and analyze detailed information about consumer attitudes toward a brand from social media sources such as Facebook and Twitter.

Customer relationship management (CRM)programs can systematically track customers' preferences and behaviors over time.

To determine an ad's click-through rate,marketers must know both the number of click-throughs and the number of impressions.

With a CRM approach,how might a firm select different methods of contacting and communicating with customers based on their value?

The dentist's office calling to remind you of your scheduled appointment for the next day is an example of ________.

A firm has segmented its customers into two groups: high-volume customers and low-volume customers.Explain the different styles of communication the firm should implement to reach each group of customers.

A company that uses data mining is unlikely to need a data warehouse,as the company's data is constantly in use.

To determine ________,firms compare the investments they make in acquiring and retaining customers to the financial return on those investments.

The owner of a pet grooming salon wants to calculate customer equity.Which of the following would be a step the owner of this pet grooming salon should complete?

Census data 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