Question 1

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 data creation by collecting information about in-store purchases through scanner data and customer reward programs and then offering promotions to current customers. The retailers could use an indirect path to data creation by collecting demographic data about current customers and then sending promotional offers to potential customers who match the demographic profiles of their profitable customers.

Question 2

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 E

Question 3

For marketers today, gathering data is a bigger challenge than deciding how to use the data that are collected.

Accepted Answer

A) True 
 B)False  False

Question 4

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 5

What is the difference between structured and unstructured data?

Accepted Answer

Structured data is typically either nume

Question 6

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 I.T. 
A)  social media 
B)  partner database 
C)  commercial entity 
D)  government 
E)  corporate I.T.

Question 7

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 ________.

Accepted Answer

A)  predictive analytics 
B)  conversion rate 
C)  market share 
D)  marketing control 
E)  churn rate 
A)  predictive analytics 
B)  conversion rate 
C)  market share 
D)  marketing control 
E)  churn rate

Question 8

A company that compiles and uses large amounts of data to understand its customers is likely to have a ________ to store and process its data.

Accepted Answer

A)  distribution center 
B)  data warehouse 
C)  competitive intelligence center 
D)  custom research project 
E)  marketing research department 
A)  distribution center 
B)  data warehouse 
C)  competitive intelligence center 
D)  custom research project 
E)  marketing research department

Question 9

How could the Internet of Things benefit marketers?

Accepted Answer

The Internet of Things refers to a syste

Question 10

The term Big Data refers to the ________.

Accepted Answer

A)  use of data warehouses to store structured and unstructured data 
B)  exponential growth of structured and unstructured data that are difficult to process using traditional database techniques 
C)  increasing number of everyday objects that are connected to the Internet and can communicate information about their use 
D)  extraction and analysis of large amounts of data from websites 
E)  collection and analysis of unstructured data by data scientists 
A)  use of data warehouses to store structured and unstructured data 
B)  exponential growth of structured and unstructured data that are difficult to process using traditional database techniques 
C)  increasing number of everyday objects that are connected to the Internet and can communicate information about their use 
D)  extraction and analysis of large amounts of data from websites 
E)  collection and analysis of unstructured data by data scientists

Question 11

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?

Accepted Answer

Marketing metrics are specific measures

Question 12

CRM programs facilitate communication from a company to its customers and from customers to the company.

Accepted Answer

A) True 
 B)False

Question 13

What is the difference between the measures of cost-per-order and margin on sales?

Accepted Answer

Cost-per-order is the total of

Question 14

Data about how consumers use everyday products is likely to increasingly be communicated through the Internet of Things.

Accepted Answer

A) True 
 B)False

Question 15

Explain two reasons that digital marketing has become an increasingly important element of the marketer's toolbox.

Accepted Answer

One reason that digital marketing has be

Question 16

________ is the financial value of a customer throughout the lifetime of the customer relationship.

Accepted Answer

A)  Share of customer 
B)  The customer perceptual map 
C)  CRM 
D)  Customer equity 
E)  The 80/20 rule 
A)  Share of customer 
B)  The customer perceptual map 
C)  CRM 
D)  Customer equity 
E)  The 80/20 rule

Question 17

Explain the relationship between one-to-one marketing and CRM.

Accepted Answer

One-to-one marketing is the concept of t

Question 18

Some cellular providers are signing deals with business partners wanting to market products based on specific phone users' locations and calling habits. These cellular providers are participating in a new trend called ________.

Accepted Answer

A)  telemarketing 
B)  data warehousing 
C)  reality mining 
D)  virtual mining 
E)  prediction marketing 
A)  telemarketing 
B)  data warehousing 
C)  reality mining 
D)  virtual mining 
E)  prediction marketing

Question 19

Any direct interface between customers and a company-whether it is online, in-person, or over the phone-is called a(n) ________.

Accepted Answer

A)  share of customer 
B)  customer target 
C)  touchpoint 
D)  customization 
E)  analytic 
A)  share of customer 
B)  customer target 
C)  touchpoint 
D)  customization 
E)  analytic

Question 20

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

Accepted Answer

There are five different types of Big Da

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

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

For marketers today, gathering data is a bigger challenge than deciding how to use the data that are collected.

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

What is the difference between structured and unstructured data?

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

A company that compiles and uses large amounts of data to understand its customers is likely to have a ________ to store and process its data.

How could the Internet of Things benefit marketers?

The term Big Data refers to the ________.

CRM programs facilitate communication from a company to its customers and from customers to the company.

What is the difference between the measures of cost-per-order and margin on sales?

Data about how consumers use everyday products is likely to increasingly be communicated through the Internet of Things.

Explain two reasons that digital marketing has become an increasingly important element of the marketer's toolbox.

________ is the financial value of a customer throughout the lifetime of the customer relationship.

Explain the relationship between one-to-one marketing and CRM.

Some cellular providers are signing deals with business partners wanting to market products based on specific phone users' locations and calling habits. These cellular providers are participating in a new trend called ________.

Any direct interface between customers and a company-whether it is online, in-person, or over the phone-is called a(n) ________.

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

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 and Sales Promotion

Promotion Ii: Social Media, Directdatabase Marketing, Personal Selling, and Public Relations

Filters

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

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

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

For marketers today, gathering data is a bigger challenge than deciding how to use the data that are collected.

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

What is the difference between structured and unstructured data?

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

A company that compiles and uses large amounts of data to understand its customers is likely to have a ________ to store and process its data.

How could the Internet of Things benefit marketers?

The term Big Data refers to the ________.

CRM programs facilitate communication from a company to its customers and from customers to the company.

What is the difference between the measures of cost-per-order and margin on sales?

Data about how consumers use everyday products is likely to increasingly be communicated through the Internet of Things.

Explain two reasons that digital marketing has become an increasingly important element of the marketer's toolbox.

________ is the financial value of a customer throughout the lifetime of the customer relationship.

Explain the relationship between one-to-one marketing and CRM.

Some cellular providers are signing deals with business partners wanting to market products based on specific phone users' locations and calling habits. These cellular providers are participating in a new trend called ________.

Any direct interface between customers and a company-whether it is online, in-person, or over the phone-is called a(n) ________.

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

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 and Sales Promotion

Promotion Ii: Social Media, Directdatabase Marketing, Personal Selling, and Public Relations

Filters