Question 1

________ are measures that marketers can use to watch the performance of their marketing efforts.

Accepted Answer

A)  Predictive analytics 
B)  Marketing metrics 
C)  Marketing controls 
D)  Touchpoints 
E)  Data warehouses 
A)  Predictive analytics 
B)  Marketing metrics 
C)  Marketing controls 
D)  Touchpoints 
E)  Data warehouses

Question 2

Numeric or categorical information is referred to as ________.

Accepted Answer

A)  structured data 
B)  unstructured data 
C)  predictive data 
D)  optimized data 
E)  converted data 
A)  structured data 
B)  unstructured data 
C)  predictive data 
D)  optimized data 
E)  converted data

Question 3

Prep for Success is an educational services company that specializes in preparing students for selective private school entrance exams. Prep for Success sends information about its services to consumers who have purchased school supplies such as backpacks and lunchboxes online and live in a community with an average household income of above $85,000 per year. This is an example of a company using ________ to identify and contact potential customers.

Accepted Answer

A)  the Internet of Things 
B)  sentiment analysis 
C)  unstructured data 
D)  information overload 
E)  Big Data 
A)  the Internet of Things 
B)  sentiment analysis 
C)  unstructured data 
D)  information overload 
E)  Big Data

Question 4

A ________ is someone who searches through multiple, disparate data sources in order to discover insights that will provide a competitive advantage.

Accepted Answer

A)  search engine optimizer 
B)  data broker 
C)  data warehouser 
D)  data scientist 
E)  reality miner 
A)  search engine optimizer 
B)  data broker 
C)  data warehouser 
D)  data scientist 
E)  reality miner

Question 5

A firm has segmented its customers into two groups: high-volume customers and low-volume customers. Explain the different styles of communication the firm should implement to reach each group of customers.

Accepted Answer

A firm should look at the cost and time

Question 6

The process through which analysts sift through massive amounts of available data to identify unique patterns of behavior among different customer groups is called ________.

Accepted Answer

A)  structuring data 
B)  information overload 
C)  reality mining 
D)  data warehousing 
E)  data mining 
A)  structuring data 
B)  information overload 
C)  reality mining 
D)  data warehousing 
E)  data mining

Question 7

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

Accepted Answer

A)  customer prioritization 
B)  share of customer 
C)  lifetime value of the customer 
D)  customer equity 
E)  undifferentiated targeting 
A)  customer prioritization 
B)  share of customer 
C)  lifetime value of the customer 
D)  customer equity 
E)  undifferentiated targeting

Question 8

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?

Accepted Answer

Theresa has an opportunity to engage in

Question 9

Marketers can collect and analyze detailed information about consumer attitudes toward a brand from social media sources such as Facebook and Twitter.

Accepted Answer

A) True 
 B)False

Question 10

Many marketing experts recommend ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

Accepted Answer

A)  customer relationship management 
B)  psychographic segmentation 
C)  transactional management 
D)  B2B marketing 
E)  C2C marketing 
A)  customer relationship management 
B)  psychographic segmentation 
C)  transactional management 
D)  B2B marketing 
E)  C2C marketing

Question 11

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 12

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 13

A new "smart" refrigerator has been designed with sensors that send information to the manufacturer about the refrigerator's use and performance. One advantage of the system is that it will detect any possible performance issues before they interfere with consumer use of the refrigerator and communicate that information to both the manufacturer and consumer so that service and/or repairs can take place immediately. This is an example of ________.

Accepted Answer

A)  the Internet of Things 
B)  a data warehouse 
C)  data mining 
D)  sentiment analysis 
E)  unstructured data 
A)  the Internet of Things 
B)  a data warehouse 
C)  data mining 
D)  sentiment analysis 
E)  unstructured data

Question 14

Explain the philosophy of customer relationship management (CRM).

Accepted Answer

Customer relationship management (CRM) p

Question 15

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

Accepted Answer

The return on investment (ROI)

Question 16

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?

Accepted Answer

The casino is using data mining for cust

Question 17

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

Accepted Answer

A)  sentiment analysis 
B)  emotion analysis 
C)  predictive analytics 
D)  market basket analysis 
E)  search engine optimization 
A)  sentiment analysis 
B)  emotion analysis 
C)  predictive analytics 
D)  market basket analysis 
E)  search engine optimization

Question 18

The owner of a pet grooming salon wants to calculate customer equity. Which of the following is a step the owner of this pet grooming salon should complete?

Accepted Answer

A)  Compare investments made by the salon owner in acquiring the customer to the total amount of purchases made by the customer. 
B)  Compare investments made by the salon owner to retain this customer to the total amount of taxes the salon owner pays. 
C)  Ask the customer if she is planning on getting any new pets. 
D)  Investigate how many other pet grooming salons are within five miles to determine the likelihood of this pet owner returning to this salon. 
E)  Determine the age of the pet to estimate how much longer this customer may need the services of the salon. 
A)  Compare investments made by the salon owner in acquiring the customer to the total amount of purchases made by the customer. 
B)  Compare investments made by the salon owner to retain this customer to the total amount of taxes the salon owner pays. 
C)  Ask the customer if she is planning on getting any new pets. 
D)  Investigate how many other pet grooming salons are within five miles to determine the likelihood of this pet owner returning to this salon. 
E)  Determine the age of the pet to estimate how much longer this customer may need the services of the salon.

Question 19

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.

Accepted Answer

A) True 
 B)False

Question 20

Marketers use the metric of ________ to inform how they price a particular product or service.

Accepted Answer

A)  click-through rate 
B)  conversion rate 
C)  margin on sales 
D)  sentiment analysis 
E)  churn rate 
A)  click-through rate 
B)  conversion rate 
C)  margin on sales 
D)  sentiment analysis 
E)  churn rate

________ are measures that marketers can use to watch the performance of their marketing efforts.

Numeric or categorical information is referred to as ________.

A ________ is someone who searches through multiple, disparate data sources in order to discover insights that will provide a competitive advantage.

A firm has segmented its customers into two groups: high-volume customers and low-volume customers. Explain the different styles of communication the firm should implement to reach each group of customers.

The process through which analysts sift through massive amounts of available data to identify unique patterns of behavior among different customer groups is called ________.

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

Marketers can collect and analyze detailed information about consumer attitudes toward a brand from social media sources such as Facebook and Twitter.

Many marketing experts recommend ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

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

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

Explain the philosophy of customer relationship management (CRM).

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

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?

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

The owner of a pet grooming salon wants to calculate customer equity. Which of the following is a step the owner of this pet grooming salon should complete?

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.

Marketers use the metric of ________ to inform how they price a particular product or service.

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

________ are measures that marketers can use to watch the performance of their marketing efforts.

Numeric or categorical information is referred to as ________.

A ________ is someone who searches through multiple, disparate data sources in order to discover insights that will provide a competitive advantage.

A firm has segmented its customers into two groups: high-volume customers and low-volume customers. Explain the different styles of communication the firm should implement to reach each group of customers.

The process through which analysts sift through massive amounts of available data to identify unique patterns of behavior among different customer groups is called ________.

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

Marketers can collect and analyze detailed information about consumer attitudes toward a brand from social media sources such as Facebook and Twitter.

Many marketing experts recommend ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

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

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

Explain the philosophy of customer relationship management (CRM).

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

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?

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

The owner of a pet grooming salon wants to calculate customer equity. Which of the following is a step the owner of this pet grooming salon should complete?

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.

Marketers use the metric of ________ to inform how they price a particular product or service.

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