MKTG-Marketing Analytics Exam 1 Multiple choice from quizzes

Which of the following is an example of an opinion leader? A. A person who is one of the first to adopt the newest iPhone model and has many friends B. A person who stays up-to-date on the latest fashion trends and does not have many social connections C. A person who is the last to adopt the latest mobile technology D. None of the above

A. A person who is one of the first to adopt the newest iPhone model and has many friends

Which segmentation approaches (analytical techniques) did we cover in class? A. Cross tabulation and regression B. A priori and post hoc C. Ward's and K-means D. Conjoint and clustering

A. Cross tabulation and regression

In a perceptual map, which of the following BEST describes a high level of competition? A. Dots that are very close to one another B. Dots that are in the same quadrant C. One dot in each quadrant D. Dots that are very spread out

A. Dots that are very close to one another

What is the typical investment recommendation for a Cash Cow? A. Harvest into stars B. Invest C. Divest D. Uncertain

A. Harvest into stars (use the money made from Cash Cow to invest into Stars) Stars--High mkt growth/high relative mkt share--INVEST Cash Cows--Low mkt growth/high relative mkt share--Invest into Stars Dogs--Low mkt growth/low relative mkt share--DIVEST (eliminate) Question Marks--high mkt growth rate/low relative mkt share--Uncertain action

When an American firm introduces its current products in Canada, it is seeking growth through A. Market development B. Market penetration C. Product development D. Diversification

A. Market development

Which of the following is an example of a tool used in analytics? A. Microsoft Excel B. Microsoft Word C. Microsoft Powerpoint D. Notepad

A. Microsoft Excel

Analytics is broadly composed of A. Models and metrics' B. Models C. Metrics D. None of the above

A. Models and metrics

Which of the following is a trend driving the adoption of marketing analytics? A. Online data availability B. Unlimited resources C. Limited data D. None of the above

A. Online data availability

Which of the following is NOT a product development metric? A. Patents B. Customization Capabilities C. Low Cost Capabilities D. Responsiveness Capabilities

A. Patents

Which framework quantifies a SWOT analysis? A. Quantitative Strategic Planning Matrix B. Monte Carlo Analysis C. Strategic Metrics D. Analytic Hierarchy Process

A. Quantitative Strategic Planning Matrix (QSPM)

What are the 4 pillars of social media marketing? A. Read, create, share, discuss B. Read, decide, buy, return C. Problem, alternatives, research, choice D. Product, price, promotion, place

A. Read, create, share, discuss

The intensity and tightness of a tie in a social network is measured by its A. Strength B. Length C. Width D. Depth

A. Strength

When is the product success quadrant tool best used? A. When competitor data is not easily available B. When there is a large product portfolio C. When in the technology sector D. when in a rapidly growing industry

A. When competitor data is not easily available

What does triangulation refer to? A. the idea that you should take a weighted average of differing estimates to determine a final estimate B. the idea that industry or government estimates are not accurate C. The idea that you need at least 3 data sources to conduct any analysis D. The idea of asking 3 questions on a survey

A. the idea that you should take a weighted average of differing estimates to determine a final estimate

How many variables can a cross-tabulation include? A. 3 B. 2 C. 1 D. 4

B. 2

Which of the following is NOT an example of a core competency? A. Operations B. Brand C. Marketing D. Finance

B. Brand

When Nintendo entered the video game market with innovative motion technology rather than advanced graphics, it employed which type of attack? A. Flank B. Guerilla C. Bypass D. Frontal

B. Bypass A bypass attack (defensive action) is one where you bypass the competitor and expand into new areas

The digital music player category has exhibited low growth rates for several years. Apple's iPod is the leading product (highest relative market share) in the category. Which BCG category best describes the iPod? A. Stars B. Cash Cows C. Dogs D. Question Marks

B. Cash Cow Cash Cows have low mkt growth and high relative market share

Which of the following measures popularity in a social network? A. Duality B. Centrality C. Engagement D. Modality

B. Centrality

Westin Hotel's marketing of its Heavenly Bed is an example of which type of offensive strategy? A. Serving a new market segment B. Differentiating functionality C. Leasing D. Bundling

B. Differentiating functionality

For Southwest Airlines, which of the following would be considered an indirect competitor? A. Delta B. Greyhound C. United Air D. Jet Blue

B. Greyhound Indirect competitors offer different products or services in the same or a different market that fulfills the same function. Greyhound offers transportation by bus rather than air. Other airlines are direct competitors

What two data types are used for the BCG matrix? A. Market growth rate and market share B. Market growth rate and relative market share C. Relative market share and CAGR D. Revenue and margin

B. Market growth rate and relative market share

Which of the following marketing metrics requires an estimate of market size? A. Customer satisfaction B. Market share C. Brand equity D. Customer lifetime value

B. Market share

Which of the following BCG matrix categories typically required further analysis and evaluation? A. Stars B. Question marks C. Dogs D. Cash cow

B. Question marks Question marks--uncertain, requires more info Stars--Invest Dogs--Divest/eliminate Cash Cows--Invest into Stars

Which of the following is NOT a social media zone? A. Social publishing B. Social education C. Social entertainment D. Social communities

B. Social education

Which of the following estimation methods starts "big" and uses data to narrow down to a specific market size estimate? A. Industry analyst report B. Top down C. Triangulation D. Bottom up

B. Top down

What is one of the primary differences between traditional media and social media? A. There is no difference B. Traditional media receivers are passive, while social media receivers are active C. Receivers must pay to access traditional media D. Receivers must pay to access social media

B. Traditional media receivers are passive, while social media receivers are active

How is a random node represented in a decision tree? A. Square B. Trapezoid C. Circle D. Hexagon

B. Trapezoid (4 sides) Decision node is a hexagon

Suppose revenue grew from $100,000 to $200,000 in one year. Which of the following metrics should be used to calculate the growth rate? A. Profit B. Year-on-year growth rate C. Return on marketing investment D. Compounded annual growth rate

B. Year-on-year growth rate YOY is for one year to the next, if you want to look at year 1 and year 3, then use CAGR (compound annual growth rate)

How can perceptual maps be data driven? A. Perceptual maps are qualitative and cannot use numerical data B. Conducting many focus groups C. Averaging scale items on attributes to reflect perception D. Using large databases

C. Averaging scale items on attributes to reflect perception

Which of the following market types can use segmentation? A. Only consumers B. Only secondary C. Consumer and business D. Only business

C. Consumer and business

What does "riding the hashtag" refer to? A. Using short hashtags B. Developing a many hashtags as possible C. Exploiting topics trending on Twitter D. Using long hashtags

C. Exploiting topics trending on Twitter

Which of the following defensive competitive actions typically require abundant resources? A. Guerilla and Flank B. Bypass and Guerilla C. Frontal and Encirclement D. Flank and Bypass

C. Frontal and Encirclement

Which of the following online tools allow you to create an alert for a term that may appear in the news/media? A. Alexa B. Compete C. Google Alerts D. Google Trends

C. Google Alerts

Which of the following tools can be sued to measure consumer interest in a competitor? A. Alexa B. Excel C. Google Trends D. Google Alerts

C. Google Trends

According to "Marketing in the Moments", "The advertising strategy of firms should aim to maximize A. Reach and frequency B. Length of ad C. Immediacy D. Demographics

C. Immediacy (means getting a response immediately or having an immediate influence)

How are the revenue and profitability of the mass market typically characterized? A. Low profit, low revenue B. High profit, low revenue C. Low profit, high revenue D. High profit, high revenue

C. Low profit, high revenue Super stars: High profit, high revenue Niche stars: High profit, low revenue Concern areas: Low profit, low revenue Mass market: Low profit, high revenue

Which of the following is NOT a major strategic marketing decision faced by firms? A. Market Approach B. Market Entry C. Market Research D. Market Growth

C. Market Research

In "Riding the Hashtag in Social Media Marketing," what is the main strategy that is discussed? A. TV, print, and radio B. billboard advertising C. jab, jab, jab, right hook D. tweet and retweet

C. jab, jab, jab, right hook

In "Social Media's Boost Amid Coronavirus Won't Spare it Pain", what uses are driving the increase in traffic? A. Checking in on family and friends B. Keeping up with the news C. Sharing tips D. All of the above

D. All of the above

In addition to marketing, what other functional business entities are interested in market size estimates? A. Operations B. Channel partners C. Financial services D. All of the above

D. All of the above

Which of the following is a style of model? A. Verbal B. Pictorial C. Mathematical D. All of the above

D. All of the above

Which of the following modeling frameworks can be used to analyze competition? A. PESTLE B. SWOT C. Perceptual Maps D. All of the above

D. All of the above

Which of the following types of non-monetary metrics are important to strategic decision making? A. Brand B. Customer C. Product Development D. All of the above

D. All of the above

Which of the following estimation methods sums estimates from various segments, distribution channels, or niche markets? A. Government database B. Triangulation C. Top down D. Bottom up

D. Bottom up

How do brands like Ragu and Prego use market segmentation? A. By conducting taste tests and focus groups B. By retaining loyal customers C. By offering promotions to induce trial D. By offering different varieties of sauces to meet preferences of different consumer segments

D. By offering different varieties of sauces to meet preferences of different consumer segments

External heterogeneity refers to A. All customers in a market B. Customers in one segment behaving similarly C. All customers in international markets D. Customers in one segment behaving differently from customers in another segment

D. Customers in one segment behaving differently from customers in another segment

Which of the following is NOT an advantage of segmentation? A. Customer satisfactions B. Profitability C.. Competitive advantage D. Diluted brand image

D. Diluted brand image (this would be a disadvantage)

Which of the following data sources is typically regarded as unbiased? A. Industry expert B. Company sponsored C. Trade publications D. Government

D. Government (secondary data source)

What type of variable includes demographic characteristics? A. Response B. A priori C. Post hoc D. Identifier

D. Identifier Identifier variable categories include demographics, geographics, psychographics

Which of the following is the best type of data? A. Primary B. Secondary C. Government D. It depends on the data collection method and the problem that needs to be addressed

D. It depends on the data collection method and the problem that needs to be addressed Primary data are data that you collect yourself through research--like surveys, focus groups, etc Secondary data are already published and available like goverment reports, financial statements, etc.

How many steps/factors/data points do you need to complete the top down estimation approach for market size? A. None B. At least 4 C. 5 D. It depends on the problem and available data

D. It depends on the problem and available data

Which of the following strategic decisions can market size estimates be helpful for? A. Market approach B. Market growth C. Brand development D. Market entry/exit

D. Market entry/exit

Which of the following analytical frameworks can be used to generate market insights? A. Reports and articles B. Stakeholders and applications C. SIC and NIACS D. PESTLE and Porter

D. PESTLE and Porter Porter's 5 forces model

STP refer to A. Segmenting, targeting, perception B. Sales, training program C. Standardized technology protocol D. Segmenting, targeting, positioning

D. Segmenting, targeting, positioning

Under which circumstances are indirect competitors more likely to be a threat? A. When the threat is in the distant future B. When the indirect competitor's product is in a different life cycle stage C. Indirect competitors are never a threat D. When there is rapid technological change

D. When there is rapid technological change Indirect competitors offer different products or services in the same or a different market that fulfills the same function

Which of the following is an example of a model form? A. Descriptive B. Predictive C. Normative D. All of the above

D. all of the above

Relative market share MUST be less than 1 True False

False---if a company is a leader in the market, then their relative market share can be greater than 1