Managing Information for Marketing Insights Flashcards
7 cards from real CPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Managing Information for Marketing Insights flashcards as text
Which stage of the marketing research process involves translating raw data into actionable recommendations for decision-makers?
Answer: Data analysis and interpretation
Data analysis and interpretation converts raw data into meaningful patterns and recommendations that inform marketing decisions.
A company segments its email list using RFM analysis. The three factors in RFM are:
Answer: Recency, Frequency, and Monetary value
RFM analysis scores customers on how recently they purchased, how often they purchase, and how much they spend, identifying the most valuable segments.
In the context of Big Data, the 'variety' dimension refers to:
Answer: The diverse types and formats of data, including structured, semi-structured, and unstructured
Variety in Big Data describes the many different forms data takes—text, images, video, sensor data, and structured database records—that organizations must manage.
A brand manager wants to monitor online conversations about a competitor's product launch in real time. The MOST suitable tool is:
Answer: Social listening and media monitoring software
Social listening tools continuously scan social media and online channels for mentions, enabling real-time monitoring of competitor activity and consumer sentiment.
Predictive analytics in marketing primarily uses historical data to:
Answer: Forecast future customer behaviors and outcomes
Predictive analytics applies statistical models and machine learning to historical data to forecast future events such as churn, purchase likelihood, or campaign response.
An online retailer asks customers to rate their experience on a scale of 0–10 and then calculates what percentage are 'promoters' versus 'detractors.' This metric is the:
Answer: Net Promoter Score (NPS)
Net Promoter Score (NPS) classifies customers as promoters (9–10), passives (7–8), or detractors (0–6) and subtracts the detractor percentage from the promoter percentage.
When a marketing research firm uses stratified random sampling, the population is first divided into:
Answer: Mutually exclusive subgroups (strata) sharing common characteristics
Stratified random sampling divides the population into homogeneous subgroups (strata) and then randomly samples from each, ensuring proportional representation.