MKTG 4500 - Exam 2 || with 100% Error-free Solutions.
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MKTG 4500
3 phases to the marketing development path correct answers Mass Communication
Database Marketing
Integrated Marketing
Database Marketing correct answers Form of direct response marketing that uses customer data to personalize the communication to promote products and services
Supported by ...
MKTG 4500 - Exam 2 || with 100% Error-free Solutions.
3 phases to the marketing development path correct answers Mass Communication
Database Marketing
Integrated Marketing
Database Marketing correct answers Form of direct response marketing that uses customer data
to personalize the communication to promote products and services
Supported by statistical models
Predicts and attempts to change consumer behavior
Operational Data Store (ODS) correct answers type of database designed to contain a limited
amount of info. Has near real-time updates and quick read and write capacity. It is integrated
with data preparation and data warehouse.
EX: when a bank customer has multiple types of accounts (e.g. checking, stocks, etc.) and you
want to show an overall balance
Data Warehouse (DW) correct answers a type of database designed as a repository for all
customer, prospect, product/service, and related marketing information. When the DW becomes
big and slow, that's when data marts are created
Data Marts (DM) correct answers Subsets of the data warehouse that is designed to work
efficiently with specific software for a business function (e.g. campaign management,
accounting). Integrated with one or more ODS and other data marts.
Logical Data Model (LDM) correct answers a diagram that defines the entities to be defined in a
database
Integrated Marketing correct answers 3 major components: collaborative, operational, analytical
and databases
Companies are integrating their marketing strategy both throughout their organization and with
their value chain partners
Increasing ability to change consumer behavior
Operational correct answers Order processing, MFG, finance, accounting, outsourced-partner
Analytical and Databases correct answers Analytical methodologies (SPSS, SAS), data mining
tools, campaign management, data warehouses, data marts
Cloud Computing Technology correct answers delivery of computing services over the internet
Advantages → scalable, efficient, and reliable measurement of usage; cloud provider manages
software and hardware
, Adoption considerations → business operational disruption, decision on which type of cloud
platform, privacy and security issues
Marketing Technology Development Path correct answers Radio Frequency Identification
(RFID)
Internet of Things (IoT)
Mobile Technology
Social Media
Computer Telephony (CT)
Types of CRM Technology correct answers Database and Data Warehouse
CRM Services
Sales-Force automation
Social Media Technology
Cloud-Based Technology
Internet of Things (IoT)
Organizations should build CRM Technical environments based on: correct answers The
amount/frequency of data
Human/Financial resources
CRM Strategic Objectives
Not every organization needs a complex and expensive data integration environment
The Customer Profit Chain correct answers Service quality and other controllable marketing
variables
Customer satisfaction (transaction-specific and cumulative)
Customer retention and loyalty
Customer profitability (CLV)
Company Value
Overall (Cumulative) Satisfaction correct answers an evaluation based on the total purchase and
consumption experience with a good or service over time
Transaction-Specific Satisfaction correct answers an immediate post-purchase evaluation.
It's possible that a customer may experience low transaction-specific satisfaction but still have
high cumulative satisfaction with a company
Satisfaction leads to maintaining and developing customer relationships → brings higher profits
Asymmetric Impact correct answers Dissatisfied customers share their bad experiences more
than satisfied customers share their positive experiences. Leaving a customer dissatisfied
damages a company
Acquaintance Relationship correct answers the customer is satisfied with the product or service a
company provides because it is on par with what they could get elsewhere
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