Question 1

Database enhancement can substantially increase the amount and quality of information held on each customer

Accepted Answer

A) True 
 B)False  True

Question 2

While the loyalty program thanks past behavior, rewards program encourages future behavior.

Accepted Answer

A) True 
 B)False  True

Question 3

Which of the following is referred as a "double-edged sword" strategy in the text?

Accepted Answer

A) E-Commerce 
B) Implementing Mobile Marketing strategies 
C) Implementing Social Media Marketing strategies 
D) None of the above 
A) E-Commerce 
B) Implementing Mobile Marketing strategies 
C) Implementing Social Media Marketing strategies 
D) None of the above C

Question 4

Brand asset is much more important than a customer database.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following metrics is a forward-looking metric?

Accepted Answer

A) Recency-Frequency-Monetary value 
B) Past Customer Value 
C) Share of Wallet 
D) Customer Lifetime Value 
A) Recency-Frequency-Monetary value 
B) Past Customer Value 
C) Share of Wallet 
D) Customer Lifetime Value

Question 6

AI has the power to organize the billions of data points that IoT generates, learn as it goes, and drive automated changes based on insights derived from the analysis of data

Accepted Answer

A) True 
 B)False

Question 7

CLV is a powerful tool for profile analysis

Accepted Answer

A) True 
 B)False

Question 8

Which of the following are advantages of block chains?

Accepted Answer

A) Elimination of the middleman 
B) Increased transparency in supply chain operations 
C) Ability to track data on advertising 
D) All of the above 
A) Elimination of the middleman 
B) Increased transparency in supply chain operations 
C) Ability to track data on advertising 
D) All of the above

Question 9

With a database, marketers cannot profile prospective customers

Accepted Answer

A) True 
 B)False

Question 10

The use of statistical models for analyzing customer databases serves the following purposes)

Accepted Answer

A) Identifying typical customers 
B) Can rank order the prospects from best to worst 
C) Helps to score a prospect list 
D) All of the above 
E) and b 
A) Identifying typical customers 
B) Can rank order the prospects from best to worst 
C) Helps to score a prospect list 
D) All of the above 
E) and b

Question 11

All of the following are capabilities of IoT EXCEPT:

Accepted Answer

A) Simplifying routine day-to-day tasks 
B) Using sensors and intelligent software to understand consumer preferences 
C) Tracking connected packaging to gain better insight into supply chain processes 
D) Conveying advice, guidance and information to consumers while also collecting real time feedback 
E) Enable the transfer of valuable assets without a third-party trust broker 
A) Simplifying routine day-to-day tasks 
B) Using sensors and intelligent software to understand consumer preferences 
C) Tracking connected packaging to gain better insight into supply chain processes 
D) Conveying advice, guidance and information to consumers while also collecting real time feedback 
E) Enable the transfer of valuable assets without a third-party trust broker

Question 12

Experiential marketing is broadly defined and aimed at wider audiences, generating a higher return on the investment

Accepted Answer

A) True 
 B)False

Question 13

The rule followed in soliciting members of a database is on the basis of

Accepted Answer

A) Majority of the members be concentrated in a given area 
B) Most recent purchase 
C) Least cost of marketing 
D) Breakeven response rate 
E) None of the above 
A) Majority of the members be concentrated in a given area 
B) Most recent purchase 
C) Least cost of marketing 
D) Breakeven response rate 
E) None of the above

Question 14

All customers are appropriate targets for relationship marketing.

Accepted Answer

A) True 
 B)False

Question 15

A rewards program gives points for buying goods and services and something that can be accumulated over time and redeemed for a benefit in the future

Accepted Answer

A) True 
 B)False

Question 16

Calculation of Customer Lifetime Value CLV) provides a framework for

Accepted Answer

A) Purchase sequence analysis 
B) Optimizing the timing of product offerings. 
C) Profile analysis to target prospects 
D) All of the above 
A) Purchase sequence analysis 
B) Optimizing the timing of product offerings. 
C) Profile analysis to target prospects 
D) All of the above

Question 17

Information pertaining to customer habits and preferences helps to identify the most and the least profitable customers.

Accepted Answer

A) True 
 B)False

Question 18

A machine learning algorithm continues to add to its teaching set, with every right or wrong response to the task completion based on the given dataset, thus becoming better and smarter at completing a task over time.

Accepted Answer

A) True 
 B)False

Question 19

The process of analyzing data from different perspectives and summarizing it into useful information is called ________.

Accepted Answer

A) negative screening 
B) duplicate screening 
C) data mining 
D) Data Validation 
E) None of the above 
A) negative screening 
B) duplicate screening 
C) data mining 
D) Data Validation 
E) None of the above

Question 20

The increased popularity of online shopping can be attributed to:

Accepted Answer

A) Wider selection 
B) Convenience of shopping from any location 
C) Ability to shop at any time 
D) All of the above 
A) Wider selection 
B) Convenience of shopping from any location 
C) Ability to shop at any time 
D) All of the above

Exam 25: New Age Strategies

Database enhancement can substantially increase the amount and quality of information held on each customer

While the loyalty program thanks past behavior, rewards program encourages future behavior.

Which of the following is referred as a "double-edged sword" strategy in the text?

Brand asset is much more important than a customer database.

Which of the following metrics is a forward-looking metric?

AI has the power to organize the billions of data points that IoT generates, learn as it goes, and drive automated changes based on insights derived from the analysis of data

CLV is a powerful tool for profile analysis

Which of the following are advantages of block chains?

With a database, marketers cannot profile prospective customers

The use of statistical models for analyzing customer databases serves the following purposes)

All of the following are capabilities of IoT EXCEPT:

Experiential marketing is broadly defined and aimed at wider audiences, generating a higher return on the investment

The rule followed in soliciting members of a database is on the basis of

All customers are appropriate targets for relationship marketing.

A rewards program gives points for buying goods and services and something that can be accumulated over time and redeemed for a benefit in the future

Calculation of Customer Lifetime Value CLV) provides a framework for

Information pertaining to customer habits and preferences helps to identify the most and the least profitable customers.

A machine learning algorithm continues to add to its teaching set, with every right or wrong response to the task completion based on the given dataset, thus becoming better and smarter at completing a task over time.

The process of analyzing data from different perspectives and summarizing it into useful information is called ________.

The increased popularity of online shopping can be attributed to:

A Decision Making Perspective on Marketing Intelligence

Marketing Research in Practice

The Marketing Research Process

Research Design and Implementation

Secondary Sources of Marketing Data

Standardized Sources of Marketing Data

Marketing Research on the Internet

Information Collection: Qualitative and Observational Methods

Information From Respondents: Issues in Data Collection

Information From Respondents: Survey Methods

Attitude Measurement

Designing the Questionnaire

Experimentation

Sampling Fundamentals

Sample Size and Statistical Theory

Fundamentals of Data Analysis

Hypothesis Testing: Basic Concepts and Tests of Association

Hypothesis Testing: Means and Proportions

Correlation Analysis and Regression Analysis

Discriminant, Factor and Cluster Analysis

Multidimensional Scaling and Conjoint Analysis

Presenting the Results

Marketing-Mix Measures

Brand and Customer Metrics

Filters