Atkins Midterm 1 Ch1-9 skip 4

brokerage model

bringing buyers and sellers together (ebay)

Both social media marketing and traditional mass media marketing are many-to-many types of communication. a. True b. False

false

e-commerce model

selling online

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. The growth rate of the internet in developing countries exceeded its growth rate in the US. d. Over 50% of the world population has gained access to the internet.

A

One example of "big data" is the accumulation of more information about each customer that marketers have available. a. True b. False

b

The goal of a sales promotion is to promote brand awareness among consumers. a. True b. False

b

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

c

advertising model

delivering a message. google /facebook

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

c

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

d

The "funnel" model is more accurate than the linear process in describing the customer journey. a. True b. False

false

The four key content metrics include consumption, sharing, sales, and repeat interactions. a. True b. False

false

The largest source of revenue in mobile advertising is video advertising. a. True b. False

false

The most important information in a marketing email should be placed in the upper right corner. a. True b. False

false

The value proposition canvas is most helpful for comparing the value of your product to those of your competition. a. True b. False

false

To get digital statistics that are up-to-date and accurate, you must pay for access to a paid database. a. True b. False

false

Affiliate model

offer incentives to partners (amazon and companys that sell to amazon)

utility model

pay as you go (skype / google drive)

merchant model

provides goods and service (amazon)

manufacture model

reaching buyers directly (dell)

Infomediary model

selling information (WSJ)

Customer experience (CX) describes all customer interactions over all touchpoints. a. True b. False

true

Display advertising consists of a headline, copy text, and images. a. True b. False

true

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

a

Blog posts, infographics, and presentations are usually derived from a company's core content. a. True b. False

a

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

a

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

a

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

a

How is the "Internet of Things" different from the "Internet of Everything"? a. 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. b. 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. c. 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. d. 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.

a

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

a

The biggest change in the digital ecosystem brought by the mobile web has been: a. The surge in users who have internet connectivity, but only through mobile devices. b. 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. c. That social media now accounts for the majority of mobile-based internet interaction. d. The growth in the percentage of internet access coming from devices that are not laptops, desktops, or phones.

a

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

a

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

a

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

a

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. Customers feel increasingly like just one of the masses and appreciate treatment that feels individual. c. The emotional component is more challenging to provide in a digital environment. d. There are fewer opportunities to interact one-on-one with customers.

a

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. Your product's benefits, how the products serve particular customer needs, and how your product or business is differentiated from competitors. c. How your product solves problems or improves things, your target customer, and why your customer would prefer you over someone else. d. The value your product brings, the cost to the consumer, and the relative value of your product compared to others.

b

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

b

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

b

All of the following are ways the internet provides a better medium for direct marketing than earlier methods except: a. It is more involving, creating engagement through rich media or action options. b. It encourages more inventive modes of contact. c. It allows more immediacy of response. d. It allows more interactivity between marketer and customer.

b

Audience targeting: a. Requires the identification of user demographics b. Can draw on predictive models to choose advertising options 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

b

Creative execution is the most important element in direct marketing strategy. a. True b. False

b

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

b

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 retention and engagement more than B2B marketers. c. B2C marketers prioritize lead generation more than B2B marketers. d. B2C marketers use social media content and B2B marketers don't.

b

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

b

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

b

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

b

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

b

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

b

What is the current best practice for addressing use of ad blockers? a. Switch to a subscription or micro-payments 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

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

b

Which of the following is NOT a barrier to forming an effective SMM team? a. It is difficult to demonstrate the effectiveness of SMM. b. CEOs and top management tend to expect immediate returns on 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.

b

Which of the following is an example of how the NBA has used data mining? a. Teams have used data mining to compare home and away performance. b. Teams have used data mining to predict which single-ticket buyers were most likely to become season-ticket buyers. c. Teams have used data mining to collect a greater amount of data about their customers. d. Teams have used data mining to predict when during a game people will buy the most souvenirs.

b

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

b

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

c

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

c

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

c

How is the recent concept of the value chain different from Porter's original concept? a. Porter's model focused on production, while later models emphasized customer-facing channels of distribution. b. 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. c. 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. d. Porter's model was a linear analysis of distribution, while later models took into account interactive knowledge exchange.

c

Sequential incentives are a key strategy in which stage of marketing? a. Retention b. Acquisition c. Conversion d. Value Growth

c

The Business Model Canvas: a. Does not need to be completed in its entirety to aid a company 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. Has largely been replaced by the Value Proposition Canvas

c

The concept of customer lifetime value takes into account: a. The amount a customer spends minus the amount the average customer spends, divided by the cost of marketing per customer, over a period set by the company based on its strategic goals. b. Net customer revenues minus the cost of advertising to the customer, plus a projection of estimated future spending. c. The amount the customer spends on the company's goods or services over 3-5 years, the costs of marketing to that customer, and the cost of the goods, services, and maintenance. d. The net revenues obtained from the customer over the time a particular marketing campaign is run, minus the cost-per-customer of the campaign.

c

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 ways to track products and business records across multiple stages in the supply chain. d. They provided a way to take processes that had required paper records and forms and made them electronic for greater security and processing speed.

c

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

c

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 is free. d. It can help identify new audiences.

c

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

c

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

c

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

c

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

d

How does the business perspective compare to the technology perspective regarding internet change waves? a. The business perspective and the technology perspective both currently see virtual reality as the most exciting potential change in the internet. b. While initially the perspectives overlapped, the business perspective has diverged from the technology perspective to acknowledge how the internet has changed customer buying habits. c. 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. d. 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.

d

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

d

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

d

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

d

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

Which of the following statements about the data warehouse is true? a. The data warehouse refers to the physical servers that store the increasingly large amounts of data required for responsive direct marketing. b. The data warehouse is usually a unified system linking multiple databases seamlessly. c. A data warehouse typically consists of four databases. d. The data warehouse usually consists of internally collected data linked to externally purchased or linked databases.

d

subscription model

delivering services or content (netflix)

A brand community is composed of people who have purchased the same product(s). a. True b. False

false

A business model is critical for a business because it provides detailed strategic guidance. a. True b. False

false

Amazon is an example of an internet-enabled model. a. True b. False

false

Behavioral targeting is usually done by setting up cookies. a. True b. False

false

Brand storytelling is about explaining your company's values and goals. a. True b. False

false

Coke has used a combination of digital channels, but few traditional channels, for its marketing communications in recent years. a. True b. False

false

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. a. True b. False

false

Digital transformation strategies should focus first on opportunities for marginal improvement. a. True b. False

false

Ecological sustainability is important for customer relations but has minimal impact on other aspects of business success. a. True b. False

false

Email marketing is cheaper than direct mail but offers a lower ROI. a. True b. False

false

Marketers have largely been forced into opt-in permissions levels because customers prefer it. a. True b. False

false

Marketing to B2C and B2B customers is fundamentally different. a. True b. False

false

Identifying and understanding customer journey touchpoints helps create a seamless customer experience. a. True b. False

true

In most institutions, the customer database content will include order processing and inventory information. a. True b. False

true

It is a good use of time for top management to be directly involved in day-to-day social media. a. True b. False

true

Mobile apps are not considered a new business model. a. True b. False

true

One business effect of cloud computing has been the growing trend toward Software as a Service. a. True b. False

true

One new option in mobile email marketing is the use of geo-targeting. a. True b. False

true

One trend that is expected to affect supply chains in the next few years is focusing on the "base of the pyramid." a. True b. False

true

Responsive websites that can be personalized are a good example of how information-driven marketing can serve the customer. a. True b. False

true

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

The virtual value chain has become especially important because companies are expected to produce six-sigma levels of quality. a. True b. False

true

Typical metrics gathered from an email campaign are numbers delivered, opened, and clicked-through. a. True b. False

true

mobile on demand model

uber

mobile payment model

venmo