Question 1

Which of the following is an application of predictive analytics?

Accepted Answer

Anticipatory shipping is an application of predictive analytics as it uses data analysis and algorithms to predict which products a customer might want to order and then ships those products to a nearby location in advance, reducing delivery time. Landing pages, search engine optimization, cybersecurity, and omni channels are all digital marketing techniques that do not necessarily involve predictive analytics.

Question 2

Which of the following is true about marketing analytics?

Accepted Answer

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Question 3

________ are techniques that use large quantities of data and variables to forecast specific future outcomes of marketing efforts.

Accepted Answer

Predictive analytics is the technique that uses large quantities of data and variables to forecast specific future outcomes of marketing efforts. Marketing analytics encompasses various data analysis techniques used to evaluate marketing strategies and performances. Conversion rates and search engine analytics are specific metrics used to measure the success of marketing efforts.

Question 4

Which of the following is an example of digital advertising?

Accepted Answer

A search engine ad is a type of digital advertising that appears in search engine results pages (SERPs) or on other websites through display advertising. The other options are all traditional forms of advertising that are not exclusively digital.

Question 5

How are the concepts of machine learning and artificial intelligence related?

Accepted Answer

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Question 6

Which of the following is a measure of the percentage of customers who defect over a given period of time?

Accepted Answer

Churn rate is a measure of the percentage of customers who stop using or buying from a company over a given period of time. The other options are different measures of online marketing performance.

Question 7

Which of the following is NOT an example of a digital marketing channel?

Accepted Answer

Television is not a digital marketing channel as it is a traditional form of media that uses analog signals to transmit information. Digital marketing channels are platforms that use digital technologies to reach and engage with target audiences.

Question 8

Through ________ pricing, a marketer pays for an advertisement based on the number of times users select the advertisement and are directed to the product's webpage.

Accepted Answer

Cost-per-click pricing means that the advertiser pays each time a user clicks on their advertisement and is directed to the product's website.

Question 9

Explain how a sporting goods retailer could use both structured and unstructured data to retain customers.

Accepted Answer

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Question 10

A real estate company places ads on a local newspaper's website. The real estate company pays the newspaper based on how many times readers of the newspaper's website select the ads and enter the real estate company's website. This is an example of ________ pricing.

Accepted Answer

This is an example of cost-per-click pricing, as the real estate company is paying the newspaper based on how many times readers click on the ads and enter their website.

Question 11

What is the difference between structured and unstructured data?

Accepted Answer

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Question 12

How could the Internet of Things benefit marketers?

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Question 13

To track the effectiveness of a campaign in a nondigital marketing channel, a firm can set up a(n) ________ that engages the consumer and enables the firm to track the relationship between the marketing effort and its desired outcome.

Accepted Answer

A landing page is a single web page that is designed specifically for a marketing campaign with the goal of converting visitors into leads or customers. By tracking the number of visitors to the landing page and the number of conversions, a firm can measure the effectiveness of the campaign. This is not possible with options A, B, D, or E which are all related to digital marketing channels.

Question 14

What is the purpose of data mining?

Accepted Answer

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Question 15

Through ________, a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.

Accepted Answer

Search engine optimization (SEO) is a process of optimizing a website to improve its ranking on search engine result pages (SERPs). Through SEO, a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business. This is done by optimizing the website's content and structure, as well as generating backlinks from other sites to increase its authority and relevance in the eyes of search engines.

Question 16

Through ________ pricing, a marketer pays for an advertisement based on how many times an advertisement appears on a webpage viewed by users.

Accepted Answer

Cost-per-impression, also known as cost-per-thousand-impressions (CPM), is a pricing model where the advertiser pays for each instance an ad is displayed on a webpage viewed by users. The term "impression" refers to a single appearance of an advertisement on a webpage, regardless of whether the user interacts with the ad or not. This model is commonly used for brand awareness purposes.

Question 17

Why might a firm want to abandon a customer? What are some of the signs that a firm would be better off "firing" a customer?

Accepted Answer

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Question 18

A gambling casino gives its high-spending players free rooms in its hotels along with free meals and tickets to the entertainment shows at the casino. What application of data mining is the casino using?

Accepted Answer

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Question 19

Which of the following could a retailer use to determine which of two different marketing messages generates the most sales?

Accepted Answer

A/B testing involves testing two different marketing messages on randomly selected groups of customers and then analyzing the sales data to determine which message resulted in more sales. This is the most direct and reliable way for a retailer to determine which marketing message is more effective. Predictive analytics, churn rate, cost-per-impression, and cost-per-click are all useful tools for retailers, but they are not specifically designed to measure the effectiveness of different marketing messages.

Question 20

Which of the following is NOT a process included in marketing analytics?

Accepted Answer

Creating marketing efforts is not a process included in marketing analytics as it falls under the realm of marketing strategy development. Marketing analytics involve collecting, measuring, analyzing, and assessing data about marketing efforts to inform decision-making and improve marketing performance.

Quiz 5: Marketing Analytics: Welcome to the Era of Big Data