MGT 6311 Midterm Exam Questions and
Answers 2024
Shift in marketing mix - Reach, effectiveness, and efficiency
goal of marketing - to create a product/service that sells
GOST hierarchy - Goals, Objectives(specific metrics), Strategies, tactics aka
hierarchy towards achieving goals
5 C's - Customer, competitors, collaborators, company, context
Customer marketing model - Awareness
Interest/Engagement
Acquisition
Customer Segmentation
Customer Retention
Support/Advocacy
RFM - recency, frequency, monetary value (as a customer persona)
Buyer journey - Discovery (loosening of status quo, committing to change)
Consideration (Exploring possible solutions & committing to a solution)
Decision (Justifying the decision, making the selection)
The 5 P's - Core components associated with a mktg mix:
Price
Product
Promo
Place
People
Porter's 5 forces - designed to consider competitive implications for an org within
context of consumer behavior.
Power of customer, threat of new entrants, threat of substitutes, power of supplies
- All circle into: competitive rivalry within industry
, 4 components to define a holistic strategy - 1. define the mission behind dig. mktg
efforts
2. derive the digital strategy
3. define the interaction strategy across cust. lifestyle
4. measurement & improve ROI
Programmatic ad buying - use of software to buy digital advertising.
What are goals of display ad? - Build brand awareness
Increase share of voice
Create consumer demand
Inform consumers
Build brand loyalty
Drive response and sales
Avg CTR - 1.91% on search network, but just .25% on display network
Dwell duration - Length of time a user remains exposed to an ad after first
engaging with it
Type of ad more likely to be viewed - Vertical ads (above the fold)
When is a display ad considered view able? - When 50% of an ads pixels are in
view on the screen for a minimum of one second. better to have multiple senses,
like sound and video
Dynamic creative optimization - to increase engagement - create targeted ads down
to an individual viewer level
Contextual ads - shown based upon a webpages ad copy and ads associated tags to
create a symbiosis of relevance. like a marriott or trip advisor page
Ad network - serves as an intermediary between advertisers and websites that have
opted in. help publish ads at scale, manage pricing, help geo-target and provide
useful analytics
Ad exchange - where unsold ad space is placed by publishers and then bid on by
advertisers
CPM - Cost per mille (1,000 impressions)
Answers 2024
Shift in marketing mix - Reach, effectiveness, and efficiency
goal of marketing - to create a product/service that sells
GOST hierarchy - Goals, Objectives(specific metrics), Strategies, tactics aka
hierarchy towards achieving goals
5 C's - Customer, competitors, collaborators, company, context
Customer marketing model - Awareness
Interest/Engagement
Acquisition
Customer Segmentation
Customer Retention
Support/Advocacy
RFM - recency, frequency, monetary value (as a customer persona)
Buyer journey - Discovery (loosening of status quo, committing to change)
Consideration (Exploring possible solutions & committing to a solution)
Decision (Justifying the decision, making the selection)
The 5 P's - Core components associated with a mktg mix:
Price
Product
Promo
Place
People
Porter's 5 forces - designed to consider competitive implications for an org within
context of consumer behavior.
Power of customer, threat of new entrants, threat of substitutes, power of supplies
- All circle into: competitive rivalry within industry
, 4 components to define a holistic strategy - 1. define the mission behind dig. mktg
efforts
2. derive the digital strategy
3. define the interaction strategy across cust. lifestyle
4. measurement & improve ROI
Programmatic ad buying - use of software to buy digital advertising.
What are goals of display ad? - Build brand awareness
Increase share of voice
Create consumer demand
Inform consumers
Build brand loyalty
Drive response and sales
Avg CTR - 1.91% on search network, but just .25% on display network
Dwell duration - Length of time a user remains exposed to an ad after first
engaging with it
Type of ad more likely to be viewed - Vertical ads (above the fold)
When is a display ad considered view able? - When 50% of an ads pixels are in
view on the screen for a minimum of one second. better to have multiple senses,
like sound and video
Dynamic creative optimization - to increase engagement - create targeted ads down
to an individual viewer level
Contextual ads - shown based upon a webpages ad copy and ads associated tags to
create a symbiosis of relevance. like a marriott or trip advisor page
Ad network - serves as an intermediary between advertisers and websites that have
opted in. help publish ads at scale, manage pricing, help geo-target and provide
useful analytics
Ad exchange - where unsold ad space is placed by publishers and then bid on by
advertisers
CPM - Cost per mille (1,000 impressions)
