Marketing Advice Market Research and Analytics 2

Question 1

What does 'customer lifetime value' (CLV) measure?

Accepted Answer

The total revenue a business can expect from a single customer over their entire relationship

Answer

The age of a typical customer at first purchase

Answer

The number of years a customer has been with a brand

Answer

The average price a customer pays per transaction

Question 2

What is the purpose of cohort analysis in marketing analytics?

Accepted Answer

To track and compare the behavior of groups of users who share a common characteristic over time

Answer

To analyze the performance of a specific advertising cohort or agency

Answer

To calculate the cohesion of a marketing team's strategy

Answer

To evaluate content performance across different audience demographics simultaneously

Question 3

What is qualitative research in marketing?

Accepted Answer

Research that gathers non-numerical insights about attitudes, motivations, and behaviors

Answer

Research that collects numerical data through surveys and polls

Answer

Research focused exclusively on product quality metrics

Answer

Research conducted in a laboratory setting

Question 4

What does statistical significance mean in marketing research?

Accepted Answer

The likelihood that a research result is due to the variable being tested and not random chance

Answer

A result that is important enough to appear in a press release

Answer

A metric showing that a campaign has reached a statistically large audience

Answer

The significance of a data point relative to the marketing budget spent

Question 5

What is a marketing attribution model?

Accepted Answer

A method for assigning credit to marketing touchpoints that contributed to a conversion

Answer

A legal framework for crediting creative work in advertising

Answer

An analytics model that tracks employee performance in a marketing team

Answer

A pricing model for attribution-based affiliate marketing

Question 6

What is the TAM (Total Addressable Market)?

Accepted Answer

The overall revenue opportunity available for a product or service if 100% market share were achieved

Answer

The total number of employees in a company's marketing department

Answer

The total advertising budget available for a campaign

Answer

The maximum number of customers that can be reached through digital channels