Marketing Chapter 5 quiz
Digital marketing has become an increasingly important element of the marketer's toolbox. According to a survey conducted by Pew Research Center, in 2018, ________ of Americans use social networking sites.
69 percent
_____ searches through multiple, disparate data sources in order to discover hidden insights that will provide a competitive advantage.
A data scientist
________ is any connection—online, by phone, or face-to-face—between customers and a company.
A touchpoint A touchpoint refers to any point of direct interface between customers and a company (online, by phone, or in person)
Applications of _____ can help marketers determine which television shows current and potential customers watch, allowing marketers to determine the value of advertising on a particular show
Big Data
How can Big Data be used to yield a greater return on investment on marketing efforts?
By identifying new opportunities through analytics For marketers, Big Data has potential to provide competitive advantages in three main areas, including identifying new opportunities through analytics that yield greater return on investment (ROI) on marketing efforts
_____ is the percentage of a company's customers (for a given span of time) who by the end of that time span can no longer be considered customers of the company (e.g., because they have cancelled their contract for a service or they have stopped shopping at the related retail location).
Churn rate Churn rate is an important metric for many companies given the expense associated with acquiring new customers compared to the cost of retaining current customers. Reducing the churn rate can be an important financial goal an organization and a sign that customer retention efforts are working.
Which of the following Big Data sources refers to a firm that collects data in large quantities and sells it to organizations that can derive value from them?
Commercial entity sources Many companies collect data in large quantities to sell to organizations that can derive value from them. For some provider firms, this activity is their primary source of revenue; for others it is a nice additional source of revenue over and above their principal business activities.
Which of the following refers to a marketing metric that shows an event that occurs on a Web page met a predefined goal associated with the consumer's visit to that page?
Conversion
________ is a marketing metric that signifies an event that occurs on a web page that indicates the meeting of a predefined goal associated with the consumer's interaction with that page.
Conversion rate Conversion rate signifies an event that occurs on a web page that indicates the meeting of a predefined goal associated with the consumer's interaction with that page
In digital marketing, which of the following refers to an online ad purchase in which the cost of the advertisement is charged each time the advertisement shows up on a page that the user views?
Cost-per-impression
Which of the following is NOT one of the five major groupings of digital marketing channels?
Cost-per-impression Cost-per-impression is an online ad purchase in which the cost of the advertisement is charged each time the advertisement shows up on a page that the user views.
According to customer lifetime value, why is it better to retain an existing customer than to acquire a new one?
Costs are higher and profits are lower if every customer is a first-time customer.
Markhov chain modeling is used to measure which of the following?
Customer lifetime value Markhov chain modeling is a statistical model used to estimate customer lifetime value. Customer lifetime value of a customer represents how much profit a firm expects to make from a particular customer, including each and every purchase he or she will make from them now and in the future.
Which of the following improves one-to-one marketing by allowing the firm to tailor the value proposition based on each customer's unique wants or needs?
Customer relationship management programs CRM programs that involve systematically tracking consumers' preferences and behaviors over time are used to tailor the value proposition as closely as possible to each individual's unique wants and needs. CRM allows firms to talk to individual customers and to adjust elements of their marketing programs in light of how each customer reacts.
Which of the following refers to a systematic tracking of consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs?
Customer relationship management (CRM)
________ is a systematic tracking of consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs. CRM allows firms to talk to individual customers and to adjust elements of their marketing programs in light of how each customer reacts
Customer relationship management (CRM) Customer relationship management (CRM) refers to a systematic tracking of consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs. CRM allows firms to talk to individual customers and to adjust elements of their marketing programs in light of how each customer reacts.
Which of the following best describes the overall process of using sophisticated analysis techniques to take advantage of the massive amount of transaction information now available?
Data mining
Which of the following is a sophisticated analysis technique used to take advantage of transaction information?
Data mining Data mining is a sophisticated analysis technique used to take advantage of the massive amount of transaction information now available.
____marketing channels are those specific means of distribution through which digital marketing communications can be delivered to current and potential customers.
Digital
Which of the following allow marketers to understand what marketing communications directly influence current and potential customers?
Digital marketing channels With the proliferation of digital media and digital marketing channels, it has become more straightforward to understand what actions on the part of marketers drive consumers to ultimately make a decision that aligns with the interests of the organization. Digital marketing channels are those specific means of distribution through which digital marketing communications can be delivered to current and potential customers.
_____ can analyze the content of social media communications within the context of a specific brand or product and determine what emotional category the communication fits within.
Emotion analysis
_____ comprises a group of technologies and processes that enable marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts.
Marketing analytics
Which of the following refers to a group of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts?
Marketing analytics Marketing analytics is a group of technologies and processes that enable marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts.
________ helps marketers pay attention to the performance of their efforts in their campaigns, initiatives, and channels and can serve as a control mechanism when necessary.
Marketing metrics Marketing metrics are specific measures that help marketers to watch the performance of their marketing campaigns, initiatives, and channels, and when appropriate serve as a control mechanism
Which of the following uses large quantities of data within variables that have identified relationships to more accurately forecast specific future outcomes?
Predictive analytics
________ uses large quantities of data within variables that have identified relationships to more accurately forecast specific future outcomes.
Predictive analytics Predictive analytics uses large quantities of data within variables that have identified relationships to more accurately predict specific future outcomes
For years, supermarkets, such as Safeway, have sold data derived from all the items processed at the cash register when consumers check out with their loyalty cards. Which of the following refers to this type of information?
Scanner data
Which of the following describes a systematic process used to ensure that your company comes up at or near the top of lists of typical search phrases related to your business?
Search engine optimization Search engine optimization (SEO) is a systematic process of ensuring that your firm comes up at or near the top of lists of typical search phrases related to your business.
Which of the following digital marketing methods refers to a systematic process of ensuring that your firm comes up at or near the top of lists of typical search phrases related to your business?
Search engine optimization (SEO)
________ refers to a process of identifying a follower's attitude toward a brand by assessing the context or emotion of his comments.
Sentiment analysis Sentiment analysis refers to the process of identifying a follower's attitude toward a brand by assessing the context or emotion of his comments
Which of the following refers to the percentage of an individual customer's purchase of a product over time within a single brand?
Share of customer
Which of the following refers to data that is typically numeric or categorical; can be organized and formatted in a way that is easy for computers to read, organize, and understand; and can be inserted into a database in a seamless fashion?
Structured data
What does the click-through rate measure?
The percentage of users who clicked on the ad to be redirected to another Web page Most digital marketing campaigns or initiatives use click-through rates as a means of determining marketing effectiveness. Specifically, they indicate what percentage of users who viewed the ad found it relevant and interesting enough to click on it in order to be redirected to another Web page
Which of the following terms refers to any direct interface between customers and a company (online, by phone, or in person)?
Touchpoint
Which of the following refers to non-numeric information that is typically formatted in a way that is meant for human eyes and not easily understood by computers?
Unstructured data
_____ describes the process of using computer software to extract large amounts of data from websites
Web scraping
________ is the process of using computer software to extract large amounts of data from websites.
Web scraping Web scraping refers to the process of using computer software to extract large amounts of data from websites
The channel partner model can best be described as________.
a two-way exchange of information between purchasing organizations and their vendors through shared or integrated I.T. systems If you're the producer of a product that is sold by a large retailer such as Walmart, think about the information and insights you could gain from access to the consumer information that Walmart gathers from its interactions with shoppers in its stores. This example illustrates the value of the channel partner model
The _____ rate is the percentage of a company's customers (within a given span of time) who by the end of that time span have defected.
churn
A(n) _____ is where companies store and process data.
data warehouse
Click-through rates, conversion rates, and cost-per-order are all examples of _____ that help marketers to watch the performance of their marketing campaigns, initiatives, and channels and when appropriate serve as a control mechanism.
marketing metrics
Share of customer refers to the _______
percentage of an individual customer's purchase of a product over time that is the same brand CRM firms try to increase their share of customer, not share of market.
______ is a marketing metric that indicates the percentage of website users who have decided to click on an advertisement in order to visit the website or web page associated with it.
Click-through Click-through refers to a metric that indicates the percentage of website users who have decided to click on an advertisement in order to visit the website or web page associated with it
_______ is an online ad purchase in which the cost of the advertisement is charged only each time an individual clicks on the advertisement
Cost-per-click Cost-per-click is an online ad purchase in which the cost of the advertisement is charged only each time an individual clicks the advertisement and is directed to the Web page that the marketer placed within the advertisement
Which of the following refers to the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction?
Cost-per-order
Which of the following utilizes the four steps of identifying, differentiating, interacting, and customizing to facilitate a relationship with consumers?
One-to-one marketing
________ utilizes the four steps, identify, differentiate, interact, and customize to facilitate a relationship with consumers.
One-to-one marketing One-to-one marketing is facilitated by CRM. It identifies customers and gets to know them in as much detail as possible; differentiates among these customers in terms of both their needs and their value to the company; facilitates interaction with customers and finds ways to improve cost efficiency and the effectiveness of the interaction; and customizes some aspect of the goods or services that are offered to each customer.
Which of the following is NOT one of the major groupings of digital marketing channel?
Pay-per-click The five major groupings of different digital marketing channels are social media, digital ad networks, email, search engines, and short message service (SMS), which are digital messages delivered to mobile phones as text messages
Google's paid search ads can be purchased or bid on based on a ________ in which the cost of the advertisement is charged only each time an individual clicks on the advertisement and is directed to the Web page that the marketer placed within the advertisement
cost-per-click
