SEM 1 Unit 3

Which of the following is best defined as "approximate calculations or judgments made based on available information, data, or assumptions."

• Data

• Estimates

• Statistics

• Answers

Marketers segment the market based on the location customers live. Identify the type of market segmentation used.

• Demographic segmentation

• Behavioural segmentation

• Psychographic segmentation

• Geographic segmentation

Identifying your target market makes it easier and more cost effective to ______.

• appeal to everyone

• sell your products to the masses

• reach your potential customers

• push away unnecessary customers

Which TWO answers correctly identify the differences of predictions and estimates?

• Predictions are mainly calculations

• Predictions are mainly statements

• Estimates are mainly calculations

• Estimates are mainly statements

Customer profiles can lead to marketing success becuase you understand who is most interested in the company's product or service

• True

• False

Gathering and analysis of information on the size, location, and makeup of a market is called:

• target marketing

• market segmentation

• marketing concept

• market research

Which of the following is an example of customer data:

• Data about buying habits

• Market share data

• Financial data about competitors

• Data about traveling expresses

Which of the following is an example of a data-driven decision?

• An apparel company wants to sell more jewelry next month, so it decides to share two jewelry-related posts on Instagram each week instead of one.

• A car dealership is afraid it’s losing business to another dealership, so it decides to raise its social ad spend.

• A clothing shop tests posting times on Facebook and finds that its followers are most active in the morning, so it shares content between 5 and 9 a.m.

• A bakery wants to build brand awareness, so it decides to run one contest on social media a week for one month.

The LV Raiders use a player's rushing yards observed and recorded by team coaches to make a gameplay decision. What two types of data did they use?

• Internal

• External

• qualitative

• quantitative

What is a benefit of using data-driven marketing techniques?

• Increased guesswork

• Enhanced customer insights

• Higher production costs

• Reduced data usage