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MGT6311Midterm Exam Questions And Answers
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MGT6311Midterm Exam Questions AndAnswers
What is the main purpose of marketing? - -creation and satisfaction of
demand for a product or service (create a product that sells, vs. sell a
product)
-What is the main purpose of digital marketing? - -using the internet, social
media, and other digital channels to drive demand
-strategy - -set of ideas that outline how a product line/brand will achieve
its objectives
-tactic - -specific action/method that contributes to achieving a goal
-GOST - -goals, objectives, strategies, tactics
-What are the 5 C's of marketing? - -customers, company, competitors,
collaborators, context
-What are marketing personas? - -fictional customer profiles used to target
marketing materials to specific customer segments
-What are the 5 P's of the marketing mix? - -price, product,
place/placement, people, promotion
-What are Porter's 5 forces? - -competitive rivalry, power of customer,
threat of new entrants, power of suppliers, threat of substitute products
-What does PESTLE stand for? - -political, environmental, social,
technological, legal, and economic factors that impact a marketing strategy
-What are the 4 pillars for situational analysis? - -environment (PESTLE),
business (unique selling points), customers/customer journey, and
competitors (marketers, disrupters, replacements)
-What are SMART objectives? - -specific, measurable, achievable, relevant,
time-bound
-What is a KPI? - -key performance indicator, a metric for determining the
success or failure of a tactic
-bounce rate - -the percent of users who click on a site but leave before
going to any other linked pages within the site
, -What makes digital marketing different from other marketing channels? - -
more data available, more rapid change, more disruptors, more competition
for customer attention, opportunity for more granular customer segment
targeting
-What are the aspects of a user persona? - -psychological, behavioral,
emotional, technological (prefered media)
-customer experience map - -a visual representation of the key touchpoints
in a user's experience with your brand
-What does SVOC mean? - -single view of customer; storing all customer
data in one place to be accessed as needed by different departments (HR,
marketing, etc)
-What are the 5 elements of a customer-centric marketing perspective? - -1.
you are not the customer, 2. you don't know the customer as well as they
know themselves, 3. customers are all different, 4. customers are constantly
changing, 5. data should drive your view of the customer
-What is the digital marketing feedback loop? - -the customer has an
experience with the brand, then you gather data and adjust marketing
tactics, then customer experience, then keep adjusting
-Give examples of online research methodologies - -surveys, focus groups,
online monitoring
-Give the match types for online search - -broad (any/all terms),
direct/exact (terms in quotes), inclusive (term1 + term2, and), exclusive
(term1 - term2, 1 not 2)
-trigger point - -a moment in the buyer journey at which a decision can be
made, the moment between when the customer realizes they have a
want/need and when they make a purchase or decide not to make a
purchase
-What are some key objectives of online advertising? - -brand awareness,
increase sales, increase demand, build loyalty, increase share of voice in the
marketplace
-What are some payment methods for online advertising? - -CPM (cost per
thousand loads, best for publisher), CPC (cost per click), CPA (cost per
acquisition, best for advertiser), flat rate, CPE (cost per
engagement/interaction with ad), hybrid
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