MKTG 455 Atkins Midterm

(C1) Digital transformation is: a. Especially important for marketers in thinking about customer experience. b. Primarily effective when it focuses on changes to the overall business model. c. Best accomplished when the company is not responding to immediate competitive pressure. d. Significantly changing the speed with which companies respond to competition.

A

(C1) How does the business perspective compare to the technology perspective regarding internet change waves? a. The technological perspective primarily addresses the interface for interacting with the internet, while the business perspective focuses on what people can do when they are online. b. Both perspectives acknowledge the same major shifts in internet development, but the business perspective focuses on what is available to the greatest number of people while the technology perspective focuses on the newest developments. c. The business perspective and the technology perspective both currently see virtual reality as the most exciting potential change in the internet. d. While initially the perspectives overlapped, the business perspective has diverged from the technology perspective to acknowledge how the internet has changed customer buying habits.

A

(C5) An effective social media marketing strategy includes which elements? a. Listening to the target audience, communicating with the audience, engaging the audience, and creating community b. Identifying the target audience, engaging the audience, creating effective content, and responding to the audience c. Identifying the target audience, developing relationships, and creating effective content d. Listening to the target audience, creating effective content, developing relationships, and creating community

A

(C6) Since 2000: a. The rate of growth of internet users has been roughly the same as the rate of growth of Facebook users. b. Internet penetration has increased at a consistent rate. c. Over 50% of the world population has gained access to the internet. d. The growth rate of the internet in developing countries exceeded its growth rate in the US.

A

(C6) Why has CX become even more important in the digital age? a. Customers' satisfaction or dissatisfaction is publicized much more widely in a digital environment. b. There are fewer opportunities to interact one-on-one with customers. c. The emotional component is more challenging to provide in a digital environment. d. Customers feel increasingly like just one of the masses and appreciate treatment that feels individual.

A

(C7) Audience targeting: a. Can draw on predictive models to choose advertising options b. Requires the identification of user demographics c. Relies primarily on actions the user takes while online, even across multiple sessions d. Focuses on actual behaviors, not what customers claim they want in surveys or other self-reporting

A

(C8) Content strategy: a. includes how to align content to business goals and evaluate its performance b. Consists of the development and production of marketing content c. Refers to how companies decide what marketing content to produce d. Does not include tracking and evaluation

A

(C5) Which of the following is NOT a barrier to forming an effective SMM team? a. CEOs and top management tend to expect immediate returns on SMM. b. It is difficult to demonstrate the effectiveness of SMM. c. Managers are less likely to use social media themselves and so doubt its value. d. It is difficult to find the right staff members to balance social media expertise and marketing skill.

A

(C2) How is the recent concept of the value chain different from Porter's original concept? a. Porter's model showed how value was produced at multiple stages in the distribution process, while later the term was used to refer to seamless integration of activities in the distribution process. b. Porter's model was a linear analysis of distribution, while later models took into account interactive knowledge exchange. c. Porter's model recognized traditional aspects of the supply chain that added value, like manufacturing, while later models integrated features like human resources and technology infrastructures. d. Porter's model focused on production, while later models emphasized customer-facing channels of distribution.

A

(C8) Compared to traditional marketing, content marketing: a. Is always more interactive b. Is more targeted c. Can only be done online d. Is less flexible and less easily modified

B

(C2) How did the REM system affect Otis Elevator's value chain? a. It allowed Otis to create smarter elevators that respond to usage patterns to recommend features like express elevators. b. It allowed pre-emptive identification of problems to minimize the impact on customers. c. It collected large amounts of data about elevator usage to make elevators safer. d. It allowed them to implement energy-saving features to save customers money and provide a more sustainable service.

B

(C3) The advertising-supported model: a. Works for companies like YouTube because they have a desirable target audience b. Works when there is a limited space for ads and a large central market. c. Is becoming the most profitable for online companies d. Is widely accepted to have failed in the modern world

B

(C3) Which of the following is the central component of all definitions of a business model set out in the chapter? a. The company's plan for marketing its goods or services b. How the company will make enough money to sustain itself c. Manufacturing or the creation of a product d. The company's plan for growth

B

(C5) Since 2000: a. The growth rate of the internet in developing countries exceeded its growth rate in the US. b. The rate of growth of internet users has been roughly the same as the rate of growth of Facebook users. c. Internet penetration has increased at a consistent rate. d. Over 50% of the world population has gained access to the internet.

B

(C5) The "resilient brand" concept: a. Explains that branding does not change significantly in the digital age. b. Expresses the idea that brands must be capable of weathering disruption. c. Shows how a brand can develop immunity to negative responses. d. Describes brands whose products and identity have transferred easily to the digital environment.

B

(C5) Which of the following is NOT part of marketing effectiveness in a digital environment? a. Marketing must work closely with customer service to provide immediate brand development. b. Beating competitors to new digital platforms. c. Optimizing multi-touch customer experience. d. Assuming mobile media will be the first point of contact with consumers.

B

(C7) In ad serving, third-party marketing services: a. Will generally attempt to fill as many advertising slots as possible, regardless of audience b. Sell online campaigns to the advertisers and deliver the ads to the sites c. Prioritize meeting the needs of advertisers to reach their target audiences d. Have largely been replaced by direct site owner or network communication with advertisers

B

(C7) What is the current best practice for addressing use of ad blockers? a. Switch to a subscription or micropayments model b. Attempt to identify blockers and convince them to allow ads in exchange for content c. Prohibit access to site content unless ad blockers are turned off d. Develop ads that users won't want to block

B

(C7) Which of the following features is NOT a recommended part of digital display advertising? a. Prominent brand names or logos b. Pop-out or expansion formats c. Viewer-initiated actions d. Audio and animation

B

(C8) A buyer persona: a. Is a creative way to envision customers as real people b. Is created differently for B2B and B2C contexts c. Includes only the ideal buyer's demographics and other measurable data d. Often leads to predispositions or stereotypical assumptions about the target audience

B

(C1) (More than one answer) The biggest change in the digital ecosystem brought by the mobile web has been: a. The growth in the percentage of internet access coming from devices that are not laptops, desktops, or phones. b. The surge in users who have internet connectivity, but only through mobile devices. c. That social media now accounts for the majority of mobile-based internet interaction. d. The number of internet users has started to stagnate, but there is overall growth in the devices used to access the internet because of people using multiple devices.

B and D

(C1) What is the connection between digital transformation and customer experience? a. Digital transformation is often invisible to the customer. b. Improving customer experience usually requires significant changes to the business model and operations. c. Customer experience affects all stages of digital transformation from customer identification to continued relationships. d. Digital transformation primarily affects customer experience in improved methods for identifying and acquiring customers.

C

(C2) What is an example of how Dell used information to integrate its virtual value chain? a. It responded quickly to online customer complaints. b. It started selling products online sooner than other businesses. c. It added Premier Pages to make shopping easier for business purchasing departments. d. It performed extensive market research to decide which products to eliminate.

C

(C2) Which of the following is NOT an important business process for managing the supply chain? a. Managing inbound logistics. b. Maintaining process technology. c. Responding to customer requests promptly. d. Running batch manufacturing.

C

(C3) A value proposition must include: a. Your product's benefits, the value it brings to customers, and the way that message will be delivered b. How your product solves problems or improves things, your target customer, and why your customer would prefer you over someone else. c. Your product's benefits, how the products serve particular customer needs, and how your product or business is differentiated from competitors. d. The value your product brings, the cost to the consumer, and the relative value of your product compared to others.

C

(C3) How has GE changed its business model over the last fifteen years? a. It serves a broader customer base. b. It focused on developing cloud platform technology. c. It focused on infrastructure technology. d. It developed a growth plan that placed reinvestment over profits.

C

(C3) The Business Model Canvas: a. Has largely been replaced by the Value Proposition Canvas b. Is best used by existing businesses that want to update or modify their business models c. Helps businesses choose and customize a business model d. Does not need to be completed in its entirety to aid a company

C

(C5) Earned media: a. Refers to the goodwill and familiarity created by using a single advertising platform frequently. b. is the result of doing both paid and, especially owned, media well. c. is generated by creating engaging content. d. Refers to the media companies can produce using their own platforms: their own website, user communities, etc.

C

(C5) What is the most important cost of social media marketing? a. Marketing focus groups and other target audience testing b. Paid media, like broadcast channels c. Human capital to support customer engagement d. Product placement in popular media

C

(C5) Which of the following is NOT true of recent media use trends? a. Desktop and laptop media use has declined. b. There is overall growth in time spent consuming media. c. All media growth is coming from mobile and connected devices. d. TV consumption has gone up even though overall traditional media has dropped.

C

(C5) Why has CX become even more important in the digital age? a. There are fewer opportunities to interact one-on-one with customers. b. The emotional component is more challenging to provide in a digital environment. c. Customers' satisfaction or dissatisfaction is publicized much more widely in a digital environment. d. Customers feel increasingly like just one of the masses and appreciate treatment that feels individual.

C

(C6) The loyalty loop: a. Shows how a happy consumer leads others to the brand. b. Occurs immediately before the customer makes an initial purchase. c. Describes the processes by which a consumer evaluates the product after purchase and cements or changes their opinion of the company. d. Describes how an initially positive customer experience can be ruined by bad customer service or insufficient post-purchase engagement.

C

(C7) Which of the following statements about digital ad serving is NOT true? a. The cost can be based on clicks or on overall exposure. b. Decisions about which ads will be served in which contexts can be decided as the consumer loads the page. c. Real-time bidding requires that ad auctions be open to all advertisers. d. Direct ad serving is the most common way to purchase advertising.

C

(C8) How is content marketing different among B2B marketers and B2C marketers? a. Both use case studies frequently, but they are primarily effective for B2B marketing. b. B2C marketers prioritize lead generation more than B2B marketers. c. B2C marketers prioritize retention and engagement more than B2B marketers. d. B2C marketers use social media content and B2B marketers don't.

C

(C9) Promotions and discounting emails should: a. Include multiple offers b. Avoid repetition c. Have a deadline d. Avoid tactics used in direct marketing

C

(C9) The example of Dreamfields Pasta shows: a. The dangers of emailing customers too frequently b. The benefits of expanding email marketing even if it requires a greater initial outlay. c. How companies can encourage permissions-based email by offering incentives and rewards d. How niche products help create community

C

(C9) Which of the following is NOT true about email marketing? a. Email marketing methods are similar to direct mail. b. Most marketers are planning to increase spending on email marketing. c. Email marketing presents a small but very reliable ROI. d. Email marketing plays a big role in mobile marketing.

C

(C1) How is the "Internet of Things" different from the "Internet of Everything"? a. The Internet of Everything refers to the gradual shift of customers to expect all processes to be carried out online, while the Internet of Things refers to the way ordinary objects are incorporating online connectivity. b. The Internet of Things is a reference to how goods are increasingly bought and sold online, while the Internet of Everything considers the exchange of both goods and services. c. The Internet of Things considers internet-enabled devices, while the Internet of Everything refers to the expected shift of all commerce toward an internet-supported model. d. The Internet of Things refers to the growing network of internet-enabled devices, while the Internet of Everything considers networked connections among things, people, processes and data.

D

(C1) What are the four marketing objectives that marketers should keep in mind in considering digital transformation? a. Acquisition, expansion, retention, and transformation. b. Identification, conversion, development, and retention. c. Identification, acquisition, conversion, and retention. d. Acquisition, conversion, retention, and value growth.

D

(C2) The earliest technologies affecting supply chains had what in common? a. They were extremely expensive. b. They were not possible until the internet was widespread. c. They provided a way to take processes that had required paper records and forms and made them electronic for greater security and processing speed. d. They provided ways to track products and business records across multiple stages in the supply chain.

D

(C2) The statement "all goods are services" is: a. False, because some products are still sold with the idea that they include no ongoing provision of services or support. b. True, because virtual goods are increasingly dominating the market, changing consumer expectations of seemingly standalone goods. c. Mostly false, because it emphasizes service aspects of the product at the expense of basic elements of production quality. d. True, because even tangible goods are sold based on their benefits to the customer, not their simple features.

D

(C3) A business that is built on the "pipe model": a. Develops products through interaction with customers b. Moves products or services without adding value c. Is a traditional model that does not adapt well to being an internet-only business d. Creates value before distribution to the customer

D

(C5) The loyalty loop: a. Occurs immediately before the customer makes an initial purchase. b. Shows how a happy consumer leads others to the brand. c. Describes how an initially positive customer experience can be ruined by bad customer service or insufficient post-purchase engagement. d. Describes the processes by which a consumer evaluates the product after purchase and cements or changes their opinion of the company.

D

(C5) The most important factor in engaging your audience is: a. To get as many people to see and hear it as possible b. To create innovative styles of marketing, using video and even virtual reality c. To communicate your product's values effectively d. To encourage customers to interact or create content themselves

D

(C5) Which of the following is NOT a reason to engage in social media marketing? a. Successful social media campaigns encourage users to interact with the company. b. Over a third of internet users use social media. c. It can help identify new audiences. d. It is free.

D

(C6) The "resilient brand" concept: a. Shows how a brand can develop immunity to negative responses. b. Describes brands whose products and identity have transferred easily to the digital environment. c. Explains that branding does not change significantly in the digital age. d. Expresses the idea that brands must be capable of weathering disruption.

D

(C6) Which of the following is NOT part of marketing effectiveness in a digital environment? a. Marketing must work closely with customer service to provide immediate brand development. b. Optimizing multi-touch customer experience. c. Assuming mobile media will be the first point of contact with consumers. d. Beating competitors to new digital platforms.

D

(C6) Which of the following is true of recent media use trends? a. TV consumption has gone up even though overall traditional media has dropped. b. Desktop and laptop media use has declined. c. There is overall growth in time spent consuming media. d. All media growth is coming from mobile and connected devices.

D

(C7) As a customer acquisition technique, events: a. Tend to be used independently of other acquisition techniques b. Are considered mostly ineffective compared to mobile advertising or social media promotions c. Are primarily an offline channel d. Can happen in an online environment

D

(C8) In the distribution process: a. Companies should try to maintain a presence on as many channels as possible. b. It is more difficult to get access to channels than to create material to place on them. c. All content placements should push users to the brand hub. d. The brand pushes content to different channels, which encourage people to take an action.

D

(C8) Native advertising: a. Should never be recognized by the viewer as advertising. b. Is content that is appropriate in format to its platform c. Is exactly the same as native content d. Is designed to mimic the style and content of the page on which it appears

D

(C9) According to the Rogers and Peppers group, the email marketing process is as follows: a. Gather customer data, set campaign goals, develop actions and incentives, execute emails b. Develop campaign goals, collect customer data, execute campaign, review and revise c. Analyze target audience, design email campaign, create contact list, send emails d. Gather customer data, analyze data for needs and values, execute and refine emails, evaluate metrics

D

(C9) According to the U.S. CAN-SPAM Act, all of the following are required EXCEPT: a. A valid street address b. An unsubscribe or opt-out option c. Clear heading information d. A message that can be reasonably assumed to be relevant to the recipient

D

(C6) T/F: Marketing to B2C and B2B customers is fundamentally different.

F

(C6) T/F: The "funnel" model is more accurate than the linear process in describing the customer journey.

F

(C7) T/F: Behavioral targeting is usually done by setting up cookies.

F

(C7) T/F: Coke has used a combination of digital channels, but few traditional channels, for its marketing communications in recent years.

F

(C7) T/F: The largest source of revenue in mobile advertising is video advertising.

F

(C9) T/F: Email marketing is cheaper than direct mail but offers a lower ROI.

F. It can be two to three times the ROI on direct mail.

(C9) T/F: The most important information in a marketing email should be placed in the upper right corner.

F. It should be in the upper left corner, but including it in the upper portion of the email is the most important overall.

(C9) T/F: Marketers have largely been forced into opt-in permissions levels because customers prefer it.

F. Marketers have frequently chosen this as a way to get fewer, better quality leads.

(C8) T/F: Brand storytelling is about explaining your company's values and goals.

F. The company should have a supporting role, with the value to customers as the central story.

(C8) T/F: The four key content metrics include consumption, sharing, sales, and repeat interactions.

F. The metrics are consumption, sharing, lead generation, and sales.

(C1) T/F: Digital transformation strategies should focus first on opportunities for marginal improvement.

False

(C1) T/F: To get digital statistics that are up-to-date and accurate, you must pay for access to a paid database.

False

(C2) T/F: Compared to technologies like cloud computing and Software-as-a-service, Internet-of-Things technologies like wearable devices have little effect on the supply chain.

False

(C2) T/F: Ecological sustainability is important for customer relations but has minimal impact on other aspects of business success.

False

(C3) T/F: A business model is critical for a business because it provides detailed strategic guidance.

False

(C3) T/F: Amazon is an example of an internet-enabled model.

False

(C3) T/F: The value proposition canvas is most helpful for comparing the value of your product to those of your competition.

False

(C5) T/F: A brand community is composed of people who have purchased the same product(s).

False

(C5) T/F: Both social media marketing and traditional mass media marketing are many-to-many types of communication.

False

(C5) T/F: Marketing to B2C and B2B customers is fundamentally different.

False

(C5) T/F: The "funnel" model is more accurate than the linear process in describing the customer journey.

False

(C6) T/F: Customer experience (CX) describes all customer interactions over all touchpoints.

T

(C6) T/F: Identifying and understanding customer journey touchpoints helps create a seamless customer experience.

T

(C7) T/F: Display advertising consists of a headline, copy text, and images.

T

(C8) T/F: Blog posts, infographics, and presentations are usually derived from a company's core content.

T

(C9) T/F: One new option in mobile email marketing is the use of geo-targeting.

T

(C9) T/F: Typical metrics gathered from an email campaign are numbers delivered, opened, and clicked-through.

T

(C1) T/F: One business effect of cloud computing has been the growing trend toward Software as a Service.

True

(C1) T/F: While early developments of the internet before the 1990s focused on technological changes, the development of search options has driven most of the change since the early 2000s.

True

(C2) T/F: One trend that is expected to affect supply chains in the next few years is focusing on the "base of the pyramid."

True

(C2) T/F: The virtual value chain has become especially important because companies are expected to produce six-sigma levels of quality.

True

(C3) T/F: Mobile apps are not considered a new business model.

True

(C5) T/F: Customer experience (CX) describes all customer interactions over all touchpoints.

True

(C5) T/F: Identifying and understanding customer journey touchpoints helps create a seamless customer experience.

True

(C5) T/F: It is a good use of time for top management to be directly involved in day-to-day social media.

True