MGT6311Midterm
What is the main purpose of marketing? - correct answer ✔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? - correct answer ✔using the
internet, social media, and other digital channels to drive demand
strategy - correct answer ✔set of ideas that outline how a product line/brand
will achieve its objectives
tactic - correct answer ✔specific action/method that contributes to achieving
a goal
GOST - correct answer ✔goals, objectives, strategies, tactics
What are the 5 C's of marketing? - correct answer ✔customers, company,
competitors, collaborators, context
What are marketing personas? - correct answer ✔fictional customer profiles
used to target marketing materials to specific customer segments
What are the 5 P's of the marketing mix? - correct answer ✔price, product,
place/placement, people, promotion
What are Porter's 5 forces? - correct answer ✔competitive rivalry, power of
customer, threat of new entrants, power of suppliers, threat of substitute
products
, What does PESTLE stand for? - correct answer ✔political, environmental,
social, technological, legal, and economic factors that impact a marketing
strategy
What are the 4 pillars for situational analysis? - correct answer
✔environment (PESTLE), business (unique selling points),
customers/customer journey, and competitors (marketers, disrupters,
replacements)
What are SMART objectives? - correct answer ✔specific, measurable,
achievable, relevant, time-bound
What is a KPI? - correct answer ✔key performance indicator, a metric for
determining the success or failure of a tactic
bounce rate - correct answer ✔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? -
correct answer ✔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? - correct answer ✔psychological,
behavioral, emotional, technological (prefered media)
customer experience map - correct answer ✔a visual representation of the
key touchpoints in a user's experience with your brand
