Marketing 3000 Exam 1 Questions with
Verified Correct Answers
AI in marketing
- Used in marketing more than any other business class
- Marketing = data heavy, customer focused, personalization driven
- AI improves = speed, efficiency, accuracy, scale
- AI = tool, Human = strategy + ethics + creativity
Personalization + Reccomendations
- Using customer data (clicks, purchases, behavior) to tailor experiences.
- Personalization increases = Click-through rate (CTR), Conversion rate, Customer retention,
Revenue
- Personalization supports marketing orientation because it focuses on customer needs.
Chatbots & Customer Service
- What it does = 24/7 service, Handles FAQs, Processes returns/orders, Escalates complex
issues
- Benefits = Lower cost, Faster response, Better experience
- AI here improves efficiency, not strategy
Predictive Analytics
- What it does = Uses past data to forecast future behavior.
- Helps predict = Demand, Churn, Trends, Buying behavior
- Predictive analytics = Forecasting, Segmentation, Supports STP targeting
Marketing Automation
, - Automates = Email flows, Lead scoring, Ad optimization
- Key idea: Aligns marketing + sales.
Dynamic Pricing
- Prices change based on = Demand, Competition, Timing
- Real-time optimization → higher margins.
Agentic AI (advanced concept)
- AI systems that: Make decisions, Adjust campaigns automatically, Act independently
- Important: Autonomy increases BUT human oversight is still necessary, Ethics risk
increases here.
BIG AI EXAM CONNECTION
- AI supports: Marketing orientation, Personalization, Long-term customer relationships,
Data-driven strategy
- BUT raises: Privacy issues, Manipulation risks, Bias, Over-automation
WHAT IS MARKETING
- Academic Definition: Marketing = Study of exchange
- Functional Definition: Marketing = Facilitates exchange
- Exchange requires: Two parties, Something of value, Communication, Freedom to
accept/reject
Product (Production) Orientation
- Focus: Make the best product efficiently.
- Belief: "If we build it, they will come."
- Problems: Ignores customers, Works only when demand > supply, Fails in competitive
Verified Correct Answers
AI in marketing
- Used in marketing more than any other business class
- Marketing = data heavy, customer focused, personalization driven
- AI improves = speed, efficiency, accuracy, scale
- AI = tool, Human = strategy + ethics + creativity
Personalization + Reccomendations
- Using customer data (clicks, purchases, behavior) to tailor experiences.
- Personalization increases = Click-through rate (CTR), Conversion rate, Customer retention,
Revenue
- Personalization supports marketing orientation because it focuses on customer needs.
Chatbots & Customer Service
- What it does = 24/7 service, Handles FAQs, Processes returns/orders, Escalates complex
issues
- Benefits = Lower cost, Faster response, Better experience
- AI here improves efficiency, not strategy
Predictive Analytics
- What it does = Uses past data to forecast future behavior.
- Helps predict = Demand, Churn, Trends, Buying behavior
- Predictive analytics = Forecasting, Segmentation, Supports STP targeting
Marketing Automation
, - Automates = Email flows, Lead scoring, Ad optimization
- Key idea: Aligns marketing + sales.
Dynamic Pricing
- Prices change based on = Demand, Competition, Timing
- Real-time optimization → higher margins.
Agentic AI (advanced concept)
- AI systems that: Make decisions, Adjust campaigns automatically, Act independently
- Important: Autonomy increases BUT human oversight is still necessary, Ethics risk
increases here.
BIG AI EXAM CONNECTION
- AI supports: Marketing orientation, Personalization, Long-term customer relationships,
Data-driven strategy
- BUT raises: Privacy issues, Manipulation risks, Bias, Over-automation
WHAT IS MARKETING
- Academic Definition: Marketing = Study of exchange
- Functional Definition: Marketing = Facilitates exchange
- Exchange requires: Two parties, Something of value, Communication, Freedom to
accept/reject
Product (Production) Orientation
- Focus: Make the best product efficiently.
- Belief: "If we build it, they will come."
- Problems: Ignores customers, Works only when demand > supply, Fails in competitive
