Deck 12: Managing Value: Analytics and Marketing Value Management Systems

Question 1

Marketers are increasingly turning to marketing analytics and MVMS to ______.

A) measure management performance
B) inform market planning
C) determine how budgets can be reduced
D) anticipate consumer purchases

Answer 1

B

Question 2

Which of the following stems from the impact of Industry 4.0 technologies on marketing functions and the need to manage it?

A) cost savings
B) efficiencies
C) new revenue sources
D) necessity

Answer 2

D

Question 3

Key performance indicators including customer satisfaction, share of wallet, and margin inform decisions on ______.

A) price strategy
B) brand segmentation
C) retention
D) promotion strategy

Answer 3

A

Question 4

The Value Management Strategy Map identifies all of the following value perspectives of marketing strategy EXCEPT ______.

A) marketing mix
B) tangible performance
C) financial performance
D) customer value proposition

Question 5

Which of the following is not an intangible performance marketing measure or metric?

A) customer lifetime equity
B) customer loyalty
C) brand image
D) customer retention

Question 6

Publishing performance data could serve to influence ______.

A) brand awareness
B) brand loyalty
C) brand reputation
D) brand image

Question 7

Which one of the following financial metrics is not a lag indicator of marketing performance?

A) growth in revenues
B) growth in profitability
C) return on equity
D) return on marketing investment

Question 8

Medium-term metrics are valuable for all of the following strategic marketing activities EXCEPT ______.

A) sustainability of a brand's competitive advantage
B) brand-building
C) developing customer relationship strength
D) establishing a pipeline for new product launches

Question 9

A fully developed MVMS is capable of all of the following EXCEPT ______.

A) transforming data to create new variables
B) calculating simple measures quickly, even with millions of data points
C) pulling data from a variety of sources
D) cleaning data to ensure quality and compatibility

Question 10

The goal of an MVMS is to generate ______.

A) performance goals
B) marketing strategies
C) relevant marketing decisions
D) marketing intelligence

Question 11

The last step of the 6D MVMS Process model is to ______.

A) design marketing strategies and activities based on findings
B) document by capturing relevant, reliable, and valid data
C) deploy the implementing marketing strategies
D) discover patterns and relationships in the data using data analysis

Question 12

The impact of marketing analytics is experienced ______.

A) before the marketing activities are implemented
B) after marketing activities are assessed
C) after marketing activities are implemented
D) before marketing activities are assessed

Question 13

Machine learning and natural language processing can perform all of the following functions EXCEPT ______.

A) predict consumer purchases
B) recognize fraudulent credit card activity
C) automate personalized targeting of digital ads
D) collect data about product usage

Question 14

Which technology can improve how employees who rely on marketing metrics benefit from analytics?

A) internet of everything
B) augmented reality
C) semantic computing
D) sentiment and text analysis

Question 15

Which of the following is not a reason behind ineffective MVMS?

A) a lack of unstandardized definitions of variables
B) failure to map the metrics to the information's purpose
C) ill-defined data definitions
D) satisficing on system functionality to retrofit existing systems