Question 1

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,fax machines,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 ________.

Accepted Answer

A) customer retention 
B) customer acquisition 
C) customer abandonment 
D) customer accrual 
E) market basket analysis

Question 2

Through a(n)________,IBM has developed technology that is capable of thinking in a way that is closer to how humans think.

Accepted Answer

A) reality mining system 
B) intelligent agent approach 
C) data warehouse approach 
D) data broker system 
E) predictive analytics approach

Question 3

________ 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

Question 4

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 answer of A gambling casino gives its high-spending players...

Question 5

Scanner 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 information technology

Question 6

Which of the following statements about CRM programs is true?

Accepted Answer

A) The success of a CRM program relies on its use of mass communication channels. 
B) CRM programs include information gathered from each customer touchpoint. 
C) Internet technology is a barrier to the successful implementation of CRM programs. 
D) To succeed,all companies should engage in CRM every time they interact with a customer. 
E) Only consumer marketers can benefit from the use of CRM programs.

Question 7

How could the Internet of Things benefit marketers?

Accepted Answer

The answer of How could the Internet of Things benefit...

Question 8

Through the data mining application of ________,marketers identify big-spending customers and target them for special offers that other customers won't receive.

Accepted Answer

A) customer retention 
B) customer acquisition 
C) customer abandonment 
D) competitive intelligence 
E) market basket analysis

Question 9

Marketers use the metric of ________ to understand where web traffic is coming from and which marketing investments are generating enough interest in users to get them to follow a link to a product webpage.

Accepted Answer

A) clickthrough rate 
B) conversion rate 
C) bounce rate 
D) sentiment analysis 
E) market share

Question 10

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

Question 11

Marketers use the metric of ________ to see the effectiveness of their marketing efforts in comparison to their competitors' actions.

Accepted Answer

A) clickthrough rate 
B) conversion rate 
C) bounce rate 
D) sentiment analysis 
E) market share

Question 12

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

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

In her work at Powered Solutions,Angelica helps business clients identify,organize,and analyze data from social media sources,internal CRM databases,commercial entity sources,and government sources.Angelica would best be described as a(n)________.

Accepted Answer

A) web scraper 
B) reality miner 
C) data scientist 
D) intelligent agent 
E) data broker

Question 15

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

Accepted Answer

A) customer retention 
B) customer loyalty 
C) customer acquisition 
D) customer abandonment 
E) market basket analysis

Question 16

Average collectors of an artist's miniatures will buy four new miniatures each year.The collectibles are available at a number of retail locations and from several catalog retailers.To ensure she gets a greater ________,the owner of The Door Gift Shop sends her customers who are collectors a postcard every time the store adds a new one to her store's inventory.

Accepted Answer

A) share of communication 
B) segment profile 
C) customer allocation 
D) share of customer 
E) brand perception

Question 17

The text of an email or a social media post would be referred to as ________.

Accepted Answer

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

Question 18

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 19

Marketers for Ranch Life,a Connecticut family resort that offers horseback riding and a waterpark,want to make sure that Ranch Life comes up at the top or near the top of every list of online search results for the phrases "Connecticut family vacation," "Connecticut horseback riding," and "Connecticut waterpark." Ranch Life marketers will likely use predictive analytics to achieve this goal.

Accepted Answer

A) True 
 B)False

Question 20

The final stage in one-to-one marketing is to identify customers in terms of both their needs and their value to the company.

Accepted Answer

A) True 
 B)False

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

Through a(n) ________,IBM has developed technology that is capable of thinking in a way that is closer to how humans think.

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

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?

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

Which of the following statements about CRM programs is true?

How could the Internet of Things benefit marketers?

Through the data mining application of ________,marketers identify big-spending customers and target them for special offers that other customers won't receive.

Marketers use the metric of ________ to understand where web traffic is coming from and which marketing investments are generating enough interest in users to get them to follow a link to a product webpage.

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

Marketers use the metric of ________ to see the effectiveness of their marketing efforts in comparison to their competitors' actions.

Numeric or categorical information is referred to as ________.

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

In her work at Powered Solutions,Angelica helps business clients identify,organize,and analyze data from social media sources,internal CRM databases,commercial entity sources,and government sources.Angelica would best be described as a(n) ________.

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

The text of an email or a social media post would be referred to as ________.

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

The final stage in one-to-one marketing is to identify customers in terms of both their needs and their value to the company.