1-Week-Leveraging User Generated Content-Quiz

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University of Virginia *

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MISC

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Marketing

Date

Feb 20, 2024

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docx

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5

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Question 1 The start-up company you work for wants you to create the marketing process. What's the first step you should take to develop the marketing process? 0 / 1 point Create objectives Develop tactics Analyze financials Establish a strategy 2. Question 2 When setting your strategy, what is the first step to determining which customers align with your objective? 1 / 1 point Targeting Positioning Product Segmentation 3. Question 3 Between 1988 and 1997, Camel cigarettes featured a cute cartoon camel on the packs and in commercials. What type of strategy is this considered? 0 / 1 point Targeting Segmentation Positioning Context 4. Question 4 You work for a sunscreen company looking to expand its market share in the Pacific Northwest, which is famous for its rainy climate. Your sunscreen has a unique, chemical-free formula with proven longer water resistance. Which step in the marketing process should you focus on first? 0 / 1 point Financials Tactics Objectives Strategy 5. Question 5 During exams week here at the University of Virginia, many coffee vendors set up carts in high-traffic student areas. One cart prominently displays "Fair Trade Certified." What type of strategy are they using? 1 / 1 point Segmentation Positioning Targeting Marketing 1. Question 1 The football season at the University of Virginia has started and ticket sales are low. The university asks for your help developing new marketing to draw in local Charlottesville residents to the games. You find a website with reviews of the team, the stadium, and the concessions. What's your next step?
1 point Attend a game to get a "gut feel" for whether to focus on marketing the team, stadium or concessions. Find the review sentiment score using R software. Review the financials. Determine what tactic you'll need. 2. Question 2 You work for a video streaming service and run text analytics on the reviews of your service and of your competitors. You discover a variety of factors that are important to your customers, all of which match your intuition except for one. Which output of the data analysis is surprising? 1 point Streaming speed is important Avatar choices for account profiles are important Price is very important Number of selections in each genre is very important 3. Question 3 You work for a potato chip company and determine that customers are concerned about the high salt content in your product. What type of analytics should you conduct to figure out how to assure customers that the salt content is at an acceptable level? 1 point Marketing Descriptive Predictive Prescriptive 4. Question 4 The sneaker company you work for is set to release a limited edition shoe in the fall. What type of analytics will you conduct to forecast sales for these shoes based on three different marketing campaign options? 1 point Marketing Prescriptive Predictive Descriptive 5. Question 5 The restaurant you work for has been reviewed many times by customers on Yelp.com. What kind of analytics should you apply to these reviews to figure out which types of dishes are most recommended? 1 point Predictive Prescriptive Descriptive Marketing 6. Question 6
How can data analytics help you make better marketing decisions? 1 point Analyzing data can help you take the optimal next steps to increase sales and improve revenue. Analyzing data yields fail-safe predictions about what will happen as a result of marketing decisions. Bad data can help you determine what NOT to do. Data analytics eliminates the need for traditional methods of customer analysis. 1. Question 1 You work for a company that rents musical instruments to K-12 school districts and your objective is to increase the length of instrument rental contracts. How will segmenting your market help you achieve your objective? 1 point It will help you determine who the competitors are in the market. It helps you decide which customers to target. It will help you determine how much money to spend on a new marketing campaign. It will help you determine which instruments are rented the longest. 2. Question 2 Your company has a marketing objective of improving the customer experience. What is the first step in the "strategy" process you'll need to go through to decide which customer group to focus on? 1 point Targeting Segmentation Positioning Competitor 3. Question 3 Your company produces a natural cat litter. Your largest customer segment is high-earning baby boomers. Your boss wants to target younger cat owners in the next marketing campaign with your cost- effective eco-product. What step in the marketing process are you going to focus on to bring in more business from these younger cat owners? 1 point Objectives Tactics Strategy Financials 4. Question 4
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