Question 1

What is the difference between a click-through rate and a conversion rate? Explain why marketers may want to use both metrics.

Accepted Answer

The answer of What is the difference between a click-through...

Question 2

Identify two actions other than the purchase of a good or service that could be measured through calculation of a conversion rate.

Accepted Answer

The answer of Identify two actions other than the purchase...

Question 3

Conversion rate is an example of ________.

Accepted Answer

Conversion rate is an example of marketing metrics, which are quantitative measurements used to track and analyze marketing performance.

Question 4

To determine an ad's click-through rate,marketers must know both the number of click-throughs and the number of impressions.

Accepted Answer

Click-through rate (CTR) is calculated by dividing the number of clicks an ad receives by the number of impressions it gets, and multiplying the result by 100. Therefore, marketers need to know both the number of click-throughs and the number of impressions to determine an ad's CTR.

Question 5

Through the use of marketing metrics,the marketing team for the charity American Harvest,a national food bank program,learned that there was a significant increase in positive mention of American Harvest in discussions on social networks.American Harvest marketers quickly decided to increase the number of ads the charity was running on these social networks.This is an example of the use of ________.

Accepted Answer

This scenario describes the use of marketing control. Marketing control involves monitoring marketing activity and making adjustments based on the results achieved. In this case, the marketing team monitored social media discussions and made the decision to increase advertising based on the positive mentions of American Harvest. This is an example of using marketing metrics to control and adjust marketing activity. The other options listed (predictive analytics, conversion rate, market share, and bounce rate) do not accurately describe the scenario.

Question 6

Briefly explain how marketers use marketing controls.

Accepted Answer

The answer of Briefly explain how marketers use marketing controls....

Question 7

To determine the ________,marketers need to know the total advertising costs and the total number of purchases made.

Accepted Answer

To determine the cost per order, marketers need to know the total advertising costs and the total number of purchases made. The other options (bounce rate, conversion rate, clickthrough rate, and market share) are metrics that require different sets of data to be calculated.

Question 8

The marketing team for Lots-o-Chocolate wants to understand the effectiveness of the different components of its digital marketing campaign and put more resources toward its three top-performing sites for ads.How can the marketing team use marketing metrics and marketing control to achieve their objective?

Accepted Answer

The answer of The marketing team for Lots-o-Chocolate wants to...

Question 9

Marketers use the metric of ________ to see how engaging a website is to visitors in terms of the extent to which visitors explore it.

Accepted Answer

The answer of Marketers use the metric of ________ to...

Question 10

Marketers use the metric of ________ to see the effectiveness of their marketing efforts in comparison to their competitors' actions.

Accepted Answer

Market share is the metric used to see the effectiveness of marketing efforts in comparison to competitors' actions because it measures the portion of sales within a particular market that is held by a company or product. By comparing market share, a company can see how they are performing in relation to their competition, and make necessary adjustments to their marketing efforts to improve their position within the market. Clickthrough rate, conversion rate, bounce rate, and sentiment analysis are all important metrics for measuring specific aspects of a marketing campaign, but they do not provide a comparison to competitors' actions.

Question 11

Marketers for Ranch Life,a Connecticut family resort that offers horseback riding and a waterpark,want to determine what percentage of people who visit the resort's webpage actually sign up to receive emails about promotions and special programs at the resort.To do this,Ranch Life marketers will need to calculate the conversion rate.

Accepted Answer

Conversion rate is the percentage of website visitors who take a desired action, such as signing up for emails, making a purchase, or filling out a contact form. In this case, the Ranch Life marketers want to calculate the conversion rate of website visitors who sign up for promotional emails, so the answer is true.

Question 12

The marketing team for the charity American Harvest,a national food bank program,wants to understand the effectiveness of its fundraising efforts in comparison to those of similar charities such as Action Against Hunger and Feed America.American Harvest will most likely use the metric of ________.

Accepted Answer

American Harvest is interested in understanding its effectiveness compared to similar charities. Market share is a common metric used for this purpose, as it looks at the percentage of the market (in this case, donors and fundraising dollars) that each charity holds. Customer equity, conversion rate, and share of customer are more applicable to for-profit businesses, while bounce rate is a metric related to website engagement and not relevant to this scenario.

Question 13

In marketing metrics terms,a(n)________ is desired consumer action.

Accepted Answer

A conversion is a desired consumer action, such as making a purchase or filling out a form. Bounce refers to when a user quickly leaves a website without engaging with any content. Share refers to when a user shares content with others. Control and optimization do not relate to consumer actions.

Question 14

Marketers use the metric of ________ to understand where web traffic is coming from and which marketing investments are generating enough interest in users to get them to follow a link to a product webpage.

Accepted Answer

Clickthrough rate measures the percentage of people who click on a link to a product webpage after being exposed to a marketing campaign. By analyzing clickthrough rates, marketers can understand which tactics are generating the most interest and adjust their strategies accordingly.

Question 15

Which of the following is NOT an example of a marketing metric?

Accepted Answer

A touchpoint refers to any interaction between a customer and a company, while the other options are all examples of marketing metrics used to measure the effectiveness of marketing campaigns.

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