Module 4 Exam

Low bounce rate on a website could be a sign that (choose all the apply)

-The site design is engaging -Your pay per click strategy is targeting the right prospective customers

Calculate ROMI for this following situation. Imagine Adidas is launching a new kind of active wear that has some new cooling technology. The total spent on a marketing campaign for this new product was $5,000,000. The resulting revenue was $8,800,000. What is the ROMI, expressed as a percentage (rounded to two decimal places)?

76%

Which of the following would NOT be a good place for a university to advertise a new major to students?

A weekday edition of a local newspaper

When two or more companies agree to put links to their website on each other's website, this is known as what kind of marketing?

Affiliate

Do you agree or disagree with this statement: A collectivist type of society focuses on the goals of a group, rather than those of a person.

Agree

Do you agree or disagree with this statement: Alliances do NOT invest in the other's business operation.

Agree

What are some of the reasons a company based in the U.S. would want to expand the sale and marketing of its products to a new market in another country?

All of the above are good reasons for multinational expansion.

What percent of active social media users in the United States access their social media accounts via mobile devices?

Almost 100%

Match the category on the left with what part of a website it covers on the right.

Content-What Design-How

In which context would a high conversion rate most likely be a good and easily measurable indicator of ROMI?

Digital marketing

It is the riskiest way to enter the market of a new country.

Direct Ownership

The process of automatically sending out a few emails at a time, perhaps with free offers, only to eventually be followed up with an offer for paid services is known as ____ marketing.

Drip

The exchange rate of the currency of the targeted country with the U.S. dollar falls under which macro environmental factor?

Economy

Achieving the most market share compared to competitors is the only strategy that companies or brands can use to be successful

False

Because their cost is relatively low, companies should make a point to be on every social media platform for every marketing campaign.

False

Customer lifetime value is focused on the short-term value of customers, as prevailing thinking on building strong companies and brands emphasizes the important of transactions over relationships.

False

Email, like any other social media, is something that a company does not, ultimately, have control over.

False

Generally speaking, all customers have the same customer lifetime value.

False

It is more difficult to measure the results of advertising efforts and strategies in the digital space than it is in more traditional advertising methods like billboards, radio, and newspapers.

False

Market share refers to how much a company shares the same geographic footprint as their competitors.

False

Measuring the impact of marketing efforts is not very important.

False

Most social media platforms are basically the same and could be substituted for one another by marketers who are trying to reach a particular market segment.

False

One of the upsides to entering a foreign market is that one day the franchisee may become a competitor.

False

Spend per customer is the best metric for determining long-term return on marketing investment.

False

The government of a targeted country has no control over how companies from other countries do business there.

False

True or False. All countries are pretty much the same as the United States, so, whatever marketing works here will work there.

False

True or False: Bringing goods into your country from another country for the purpose of reselling them, is an example of exporting.

False

This type of society focuses on personal rewards.

Individualist

Which type of media do social media platforms qualify as?

It isn't clear which category fits.

Which country has the most McDonald's restaurants, after the United States?

Japan

Match the product on the left with its correct category of adaptation on the right.

Levi jeans-Leave as is American cars with steering on the right-Adapted for new market Vegetarian burger for markets in India.-New product for new market

Given the challenges that a company faces in undertaking a large email-based marketing campaign, it may be a good idea to hire a professional email marketing company. What is the name of such a company that was referenced in this chapter?

Mailchimp

An email that is automatically sent as a follow up to a purchase or a question sent to customer service is known as what type of use for emails in marketing?

Marketing message

Which term, according to the authors, best describes it when a company based in the United States markets its products to or in countries other than the United States?

Multinational

Yes or No: Analytics refers to variables that marketers need to measure to determine the effectiveness of a particular marketing campaign or activity.

NO

The United States, Canada, and Mexico, are founding members of what trade organization?

Neither of these

Yes or No: Dripping is the term used to describe the practice of exporting excess manufactured product from one country into another country at extremely low prices

No

When the Ford Motor Company manufactures cars with the steering wheel on the right-hand side in order to sell them in Europe, instead of on the left-hand side like those sold in the United States, this is an example of product adoption.

No, it's not.

How much revenue/profit is produced by a given marketing activity is known as the what?

ROI

For a long time, what was the primary measure used to assess marketing results?

Revenue

The acronym SERP stands for what?

Search Engine Results Page

According to some marketing researchers, what key element that was initially a major component of, but is now missing, from what is called social media marketing?

Social

This term refers to the average amount of money spent by a company's customer, and is calculated by taking the total revenue in a given time period (e.g. annually) divided by the total number of customers (or transactions).

Spend per customer

How long - on average - do people tend to keep apps on their phones before deleting them?

Three months

In which context would merchandising most likely play the biggest role in driving higher conversion rates?

Traditional retail

A high bounce rate in the context of email marketing could indicate that the email database is not up-to-date.

True

Canada is a member of the Asian-Pacific Economic Cooperation.

True

Currently, marketers have more access to data that they ever did before.

True

Digital and traditional marketing both use the same core concepts; the only difference is the tools used to implement them.

True

Getting a good CTR at an affordable price from good prospective customers is the goal of a sustainable pay per click strategy.

True

In digital marketing, as opposed to in Personal Selling, conversion rate refers to the percentage of website visitors that actually make a purchase.

True

Marketing internationally requires a different set of concepts and methods than marketing in the United States.

True

Not all countries treat meeting times or office dress codes the same.

True

Not all marketing is created equal in that depending on the type of product, type of medium employed, and various other factors, the results can and are often different.

True

One area that Pepsico's strategy differs from Coca Cola's is its level of diversification.

True

One of the benefits of conducting customer service and/or support through social media is that there is a written record of what was stated by both sides.

True

SEO or Search Engine Optimization is the process of obtaining an increased amount of traffic to a website as a result of higher organic (or free) rankings.

True

Spend per customer is an important metric to consider when deciding on how much to spend acquiring new customers.

True

The existence of spam emails can be flipped by capable marketers into an opportunity to help earn a customer's trust and loyalty.

True

The same environmental factors that are researched domestically should also be researched with regards to a new nation or country a business is considering expanding its sales or marketing into.

True

True or False. One of the biggest benefits of digital marketing is that it can provide customer access (shopping, support, or service) to a business 24 hours a day, seven days a week.

True

True or False: ESP, as used in this chapter, stands for Email Service Provider.

True

True or False: Return on marketing investment (ROMI) is the amount of profit divided by the amount of the marketing investment.

True

True or False: The type of entry into a foreign market where a company based in the United States simply ships its products to an existing reseller already located and established in that target country is known as exporting.

True

When a company is considering expanding into a foreign market, it needs to be concerned with its competition not only globally, but domestically as well.

True

When a customer gives you their email address for you to contact them in the future, it is a sign of trust.

True

Which international trade association is the oldest?

WTO

What is the name of the German retail chain that Walmart acquired in 1996 and attempted to enter the German market through?

Wertkauf

Yes or No: Email is a type of social media.

Yes

Yes or No: In the context of personal selling, the focus of a conversion rate is on how many leads become customers.

Yes

In the context of website conversion, a double digit conversion rate would be considered a (an) ____ result.

above average

The strategy of modifying products to fit the culture is called product ___

adaptation

How many billions of dollars, worldwide, is it estimated that the email industry is worth annually?

around 50