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

A catalog retailer studies about 3,500 variables over the lifetime of a customer's relationship. It has found that customers who change residences are three times more likely than customers who do not move as frequently to buy tables, color printers, and decorative products but are no more likely to buy jewelry or footwear. By using data analysis to determine which promotion to target to customers who have recently moved, this catalog retailer has engaged in ________.

The method of emotion analysis provides more detailed and accurate information than the method of sentiment analysis.

Identify two actions other than the purchase of a good or service that could be measured through calculation of a conversion rate.

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?

Which of the following statements about CRM programs is true?

Which of the following is an example of digital advertising?

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.

Identify any product or service. How can a marketer calculate the lifetime value of a customer relating to the purchase of this product or service? Explain your answer.

Scanner data is an example of a ________ source of Big Data.

Describe the different types of Big Data sources available to marketers. How can marketers use this information?

In a firm's top executive team, the ________ is positioned as the leading force of all things customer-related.

A person who illegally gains access to and sometimes tampers with information in a computer system is called a hacker.

It is more difficult to determine the ROI on traditional media efforts such as TV commercials than the ROI on digital media efforts such as banner ads.

Which of the following is not a focus of customer relationship management?

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?

Census data is an example of a ________ source of Big Data.

What are two ways the airline industry can benefit from the implementation of CRM systems? Explain your answer.

How can a marketer determine the effectiveness of a banner ad on a website?

To better tailor the services it offers to the needs of specific customers, First City Bank should first collect, verify, and update the information it has about its customers.

To determine the ________, marketers need to know the selling price per unit and the cost per unit.