1-Week-Leveraging User Generated Content-Quiz

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School

University of Virginia *

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MISC

Subject

Marketing

Date

Feb 20, 2024

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docx

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Uploaded by KidPrairieDogMaster994

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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Food & Wine Magazine just published their list of the best restaurants and you are surprised that the restaurant you manage isn't on it. You head to Yelp.com to read your online reviews. What's your next step? 1 point Plug the reviews into a predictive model to determine which new entrées will be most popular with diners. Plug the reviews into a prescriptive model to figure out what you should do to improve ratings. Find the review sentiment score using R software. Rely on your intuition to make sense of the reviews. 5. Question 5 You work for a company that sells teacher supplies, primarily to K-5 elementary schools, with two-day delivery. You want to better understand your market and so you analyze the data from product reviews and sales, which yields some surprising results. What surprising factor does the analysis reveal your customers care about? 1 point Delivery time is not that important. Brand name is relatively unimportant. Kid-friendly packaging is important. Variety of crayon sizes is important. 6. Question 6 You work for a company that sells cleaning products. From reviews, you discover that customers are concerned that the smell of the products is hazardous to their health. What type of analytics will you conduct to figure out how to assure your customers the product is safe? 1 point Predictive Descriptive Prescriptive Marketing 7. Question 7 Your company sells sports energy drinks and has created a campaign with the slogan "Ski all day and party all night." What element of strategy does this represent? 1 point Targeting Positioning Segmentation Context 8. Question 8

You work for a popular athletic wear company that wants to launch a women's swimsuit line in the spring. What type of analytics will you conduct to determine how one-piece vs. two-piece bathing suits will sell this year? 1 point Prescriptive Marketing Descriptive Predictive 9. Question 9 You work for a tech start-up company and have run a descriptive analysis using review data from your website about your tablet. You learn that price is the biggest concern with college students ages 18-35. What type of analytics will you conduct to determine how to improve sales to this target market? 1 point Marketing Prescriptive Predictive Descriptive 10. Question 10 How can data analytics improve marketing strategy? 1 point Even if you only have bad data. it can still help you obtain good results. It provides deeper insights into what matters and what is most likely to work. It tells you which marketing campaigns will definitely work. It provides certainty about the future.

1-Week-Leveraging User Generated Content-Quiz

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