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

A real estate company places ads on a local newspaper's website. The real estate company pays the newspaper based on how many times readers of the newspaper's website select the ads and enter the real estate company's website. This is an example of ________ pricing.

John Wanamaker, a famous retailer from the late 1800s, is credited with saying "Half the money I spend on advertising is wasted; the trouble is, I don't know which half." Explain the marketing issue highlighted by this quote and how marketing analytics affects this issue.

Through the use of marketing metrics, the marketing team for the charity American Harvest, a national food bank program, learned that there was a significant increase in positive mention of American Harvest in discussions on social networks. American Harvest marketers quickly decided to increase the number of ads the charity was running on these social networks. This is an example of the use of ________.

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?

Marketers use the metric of ________ to understand where web traffic is coming from determining marketing effectiveness.

Tabak catalog retailer studies about 3,500 variables over the lifetime of a customer's relationship. Through ________, 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.

Because of recent advances in data warehousing and data mining, the amount of data we produce is expected to decrease in the near future.

To take advantage of the massive amount of data now available, a sophisticated analysis technique called ________ is becoming a priority for many firms.

A gambling casino gives its high-spending players free rooms in its hotels along with free meals and tickets to the entertainment shows at the casino. What application of data mining is the casino using?

Companies are most likely to use data mining results identifying unprofitable customers for ________.

Through the data mining application of ________, marketers target promotional strategies for products based on the records of which customers have recently purchased certain other products.

Using the method of ________, unstructured data such as social media posts can be categorized into a wide range of complex feelings and emotions.

Through a(n) ________, there is a two-way exchange of information between purchasing organizations and their vendors through integrated IT systems.