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MGT 6311 Midterm Exam/52 Questions and Answers Distinction Graded
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MGT 6311 Midterm Exam/52 Questions andAnswers Distinction Graded
Shift in marketing mix - -Reach, effectiveness, and efficiency
-goal of marketing - -to create a product/service that sells
-GOST hierarchy - -Goals, Objectives(specific metrics), Strategies, tactics
aka hierarchy towards achieving goals
-5 C's - -Customer, competitors, collaborators, company, context
-Customer marketing model - -Awareness
Interest/Engagement
Acquisition
Customer Segmentation
Customer Retention
Support/Advocacy
-RFM - -recency, frequency, monetary value (as a customer persona)
-Buyer journey - -Discovery (loosening of status quo, committing to change)
Consideration (Exploring possible solutions & committing to a solution)
Decision (Justifying the decision, making the selection)
-The 5 P's - -Core components associated with a mktg mix:
Price
Product
Promo
Place
People
-Porter's 5 forces - -designed to consider competitive implications for an org
within context of consumer behavior.
Power of customer, threat of new entrants, threat of substitutes, power of
supplies
- All circle into: competitive rivalry within industry
-4 components to define a holistic strategy - -1. define the mission behind
dig. mktg efforts
2. derive the digital strategy
3. define the interaction strategy across cust. lifestyle
4. measurement & improve ROI
-Programmatic ad buying - -use of software to buy digital advertising.
, -What are goals of display ad? - -Build brand awareness
Increase share of voice
Create consumer demand
Inform consumers
Build brand loyalty
Drive response and sales
-Avg CTR - -1.91% on search network, but just .25% on display network
-Dwell duration - -Length of time a user remains exposed to an ad after first
engaging with it
-Type of ad more likely to be viewed - -Vertical ads (above the fold)
-When is a display ad considered view able? - -When 50% of an ads pixels
are in view on the screen for a minimum of one second. better to have
multiple senses, like sound and video
-Dynamic creative optimization - -to increase engagement - create targeted
ads down to an individual viewer level
-Contextual ads - -shown based upon a webpages ad copy and ads
associated tags to create a symbiosis of relevance. like a marriott or trip
advisor page
-Ad network - -serves as an intermediary between advertisers and websites
that have opted in. help publish ads at scale, manage pricing, help geo-
target and provide useful analytics
-Ad exchange - -where unsold ad space is placed by publishers and then bid
on by advertisers
-CPM - -Cost per mille (1,000 impressions)
Most common; pricing depends on popularity of the site - sites w/ more
traffic tend to cost more
-CPC - -Cost per click - other most common
-CPA - -Cost per acquisition - payment made based upon an action taken
after user has clicked an ad and visited the advertiser's site. rarely used for
display
-Fixed cost/flat rate - -per time interval. usually smaller sites. owner offers a
fixed amount of ad space for a fixed fee based upon a period of time
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