Question 1

Which of the following is a measure of the percentage of customers who defect over a given period of time?

Accepted Answer

A)  cost-per-impression 
B)  churn rate 
C)  conversion rate 
D)  click-through rate 
E)  A/B test 
A)  cost-per-impression 
B)  churn rate 
C)  conversion rate 
D)  click-through rate 
E)  A/B test

Question 2

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 3

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 4

Average collectors of an artist's miniatures will buy four new miniatures each year. The collectibles are available at a number of retail locations and from several catalog retailers. To ensure she gets a greater ________, the owner of The Door Gift Shop sends her customers who are collectors a postcard every time the store adds a new miniature to her store's inventory.

Accepted Answer

A)  share of communication 
B)  segment profile 
C)  conversion 
D)  share of customer 
E)  brand perception 
A)  share of communication 
B)  segment profile 
C)  conversion 
D)  share of customer 
E)  brand perception

Question 5

Technology designed specifically for marketing analytics is referred to as mar-tech.

Accepted Answer

A) True 
 B)False

Question 6

Explain how a firm benefits from customers who make multiple purchases versus customers who make just one purchase.

Accepted Answer

A firm's profitability and long-term suc

Question 7

Customer relationship management (CRM) programs are often called interactive marketing programs.

Accepted Answer

A) True 
 B)False

Question 8

Explain the concept of lifetime value of a customer.

Accepted Answer

The lifetime value of a custom

Question 9

What is the purpose of data mining?

Accepted Answer

Researchers rely on data minin

Question 10

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

Question 11

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

Question 12

Soundz, a marketer of high-end headphones, wants to better understand how consumers think and feel about its products. Which of the following would be the best tool to help the leadership at Soundz learn about consumer attitudes toward the brand?

Accepted Answer

A)  predictive technology 
B)  scanner data 
C)  machine learning 
D)  sentiment analysis 
E)  search engine optimization 
A)  predictive technology 
B)  scanner data 
C)  machine learning 
D)  sentiment analysis 
E)  search engine optimization

Question 13

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 14

The Union Express website tracking a lost package is an example of CRM.

Accepted Answer

A) True 
 B)False

Question 15

Walgreens customers can sign up for the Balance Rewards program, entering a member number or using a member card every time they make a Walgreens purchase in order to receive discounts and build up points that can be redeemed for rewards. Information that Walgreens collects through these purchases is best described as ________.

Accepted Answer

A)  scanner data 
B)  web 
C)  unstructured data 
D)  sentiment analysis 
E)  data mining 
A)  scanner data 
B)  web 
C)  unstructured data 
D)  sentiment analysis 
E)  data mining

Question 16

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 17

A catalog retailer studies about 3,500 variables over the lifetime of a customer's relationship. It has found that customers who are married, are between the ages of 31 and 44, and have moved within the past year are its most profitable customer segment. By sending promotional offers to noncustomers who also fit this description, this catalog retailer has engaged in ________.

Accepted Answer

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

Question 18

To ensure consistency, churn rate is always determined over the time period of one year.

Accepted Answer

A) True 
 B)False

Question 19

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 can use information from Sora's shopping for the purpose of customer acquisition.

Accepted Answer

A) True 
 B)False

Question 20

In one-to-one marketing, the final step is to ________.

Accepted Answer

A)  interact with the customers and find ways to improve cost efficiency 
B)  prioritize efficiency of interactions with customers 
C)  differentiate among these customers in terms of both their needs and their value to the company 
D)  customize some aspects of the products or services offered to each customer 
E)  implement a mass customization program 
A)  interact with the customers and find ways to improve cost efficiency 
B)  prioritize efficiency of interactions with customers 
C)  differentiate among these customers in terms of both their needs and their value to the company 
D)  customize some aspects of the products or services offered to each customer 
E)  implement a mass customization program

Which of the following is a measure of the percentage of customers who defect over a given period of time?

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

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

Technology designed specifically for marketing analytics is referred to as mar-tech.

Explain how a firm benefits from customers who make multiple purchases versus customers who make just one purchase.

Customer relationship management (CRM) programs are often called interactive marketing programs.

Explain the concept of lifetime value of a customer.

What is the purpose of data mining?

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

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

Soundz, a marketer of high-end headphones, wants to better understand how consumers think and feel about its products. Which of the following would be the best tool to help the leadership at Soundz learn about consumer attitudes toward the brand?

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

The Union Express website tracking a lost package is an example of CRM.

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

To ensure consistency, churn rate is always determined over the time period of one year.

In one-to-one marketing, the final step is to ________.

Welcome to the World of Marketing: Create and Deliver Value

Global, Ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product I: Innovation and New Product Development

Product Ii: Product Strategy, Branding, and Product Management

Price: What Is the Value Proposition Worth

Deliver the Goods: Determine the Distribution Strategy

Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Promotion I: Advertising: One to Many Marketing Communications

Promotion II: Social Media Marketing and Other Communication Tools

Filters

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

Which of the following is a measure of the percentage of customers who defect over a given period of time?

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

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

Technology designed specifically for marketing analytics is referred to as mar-tech.

Explain how a firm benefits from customers who make multiple purchases versus customers who make just one purchase.

Customer relationship management (CRM) programs are often called interactive marketing programs.

Explain the concept of lifetime value of a customer.

What is the purpose of data mining?

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

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

Soundz, a marketer of high-end headphones, wants to better understand how consumers think and feel about its products. Which of the following would be the best tool to help the leadership at Soundz learn about consumer attitudes toward the brand?

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

The Union Express website tracking a lost package is an example of CRM.

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

To ensure consistency, churn rate is always determined over the time period of one year.

In one-to-one marketing, the final step is to ________.

Welcome to the World of Marketing: Create and Deliver Value

Global, Ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product I: Innovation and New Product Development

Product Ii: Product Strategy, Branding, and Product Management

Price: What Is the Value Proposition Worth

Deliver the Goods: Determine the Distribution Strategy

Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Promotion I: Advertising: One to Many Marketing Communications

Promotion II: Social Media Marketing and Other Communication Tools

Filters