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MGT 6311: Digital Marketing - Midterm Exam – Questions & Answers
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MGT 6311: Digital Marketing - Midterm Exam – Questions & Answers
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MGT 6311: Digital Marketing - Midterm Exam – Questions & AnswersMarketing ✔ Ans -Creation and satisfaction of demand for a product or service.
Digital Marketing ✔ Ans -Utilizing the internet and other digital channels to drive demand for products and services
Strategy ✔ Ans -Set of ideas that outline how a product or brand will meet its objectives
Tactic ✔ Ans -A specific action or method that contributes to achieving a goal.
Components of GOST strategy ✔ Ans -Goals
Objectives
Strategies
Tactics
What are the Five Cs? ✔ Ans -Customers
Company
Collaborators
Competitors
Context
Customers (5 Cs) ✔ Ans -Potential buyers with wants and needs that the company aims to fulfill with its offerings
Business vs. non-business buyers
Company (5 Cs) ✔ Ans -The org or business unit providing certain goods or services
Look internally at messaging, positioning, etc.
SWOT ✔ Ans -Strength, Weakness, Opportunities, Threats Competitors (5 Cs) ✔ Ans -Orgs that offer products or services that
aim to fulfill the same wants/needs of the same customers as the company's offering
Collaborators (5 Cs) ✔ Ans -External business entities that work with the company to create value for customers
Context (5 Cs) ✔ Ans -The environment in which the company operates and its associated elements
What does PESTEL stand for? ✔ Ans -Political
Economic
Sociocultural
Technological
Ecological
Legal
What are the steps of a customer marketing model? ✔ Ans -
Awareness
Interest & Engagement
Acquisition
Customer Segmentation
Customer Retention
Support & Advocacy
Awareness ✔ Ans -Creating an identification moment in the customer's mind
Interest & Engagement ✔ Ans -Informing the customer of your offerings and encouraging them to learn more
"Now that I know you exist, why should I care?"
Acquisition ✔ Ans -Converting a prospect into a customer
Customer Segmentation ✔ Ans -Differentiating between customer segments and marketing to them accordingly Customer Retention ✔ Ans -Focus on convincing an existing customer to purchase again
Support & Advocacy ✔ Ans -Satisfying customers to the point where they spread the word about offerings
Customer Personas ✔ Ans -Semi-fictional depictions of the target audience
Demographic Profiling Components ✔ Ans -Age
Gender
Marital Status
Education
Geographic Variables ✔ Ans -State
Population
Climate
Psychographic Profile ✔ Ans -Lifestyle
Values
Attitudes
Personality
Behavioral Variables ✔ Ans -Usage Rate
Brand Loyalty
Benefit Sought
RFM ✔ Ans -Recency
Frequency
Monetary Value
Buyer Journey ✔ Ans -- Loosening of Status Quo
- Committing to Change
- Exploring Possible Solutions
- Committing to a Solution
- Justifying the Decision
- Making the Selection
(Discovery, Consideration, Decision)
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