MGT 6311 GATECH MIDTERM EXAM
QUESTIONS AND ANSWERS
Cluetrain Manifesto - Correct Answers -A set of 95 theses organised as a call to action
(CTA) for businesses operating within a newly connected marketplace, published in
1999. While some of the book's claims have failed to materialise, it was an early source
of guidelines for social media and obtained a cult-
like following
Market share - Correct Answers -In strategic management and marketing, market share
is the percentage or proportion of the total available market or market
segment that is being serviced by a company.
Pay per click (PPC) - Correct Answers -Advertising where the advertiser pays only for
each click on their advert, not for the opportunity for it to be seen or
displayed.
Return on investment
(ROI) - Correct Answers -The ratio of cost to profit.
Search engine optimisation
(SEO) - Correct Answers -The practice that aims to improve a website's ranking for
specific keywords in the search engines.
Strategy - Correct Answers -A set of ideas that outline how a product or brand will be
positioned and achieve its objectives. This guides decisions on how to create,
distribute, promote and price the product or service. Looks at 4 pillars: environment,
business, customers, competitors
Tactic - Correct Answers -A specific action or method that contributes to achieving a
goal
Porter's 5 Forces - Correct Answers -Power of suppliers, power of customers, threat of
new entrants, threat of substitute products --> competitive rivalry within industry
5 P's of marketing mix - Correct Answers -Product, price, place, promotion, people
SWOT - Correct Answers -Strength, weakness, opportunities, threats
, What do objectives need to be? - Correct Answers -SMART: specific, measurable,
attainable, realistic, time-bound
Attention economy - Correct Answers -The idea that human attention is a scarce
commodity i.e. seeing attention as a limited resource.
Customer experience map - Correct Answers -A visual representation of the customers'
flow from beginning to end of the purchase experience, including their needs, wants,
expectations and overall experience.
Customer persona - Correct Answers -A detailed description of a fictional person to help
a brand visualise a segment of its target market.
Global citizen - Correct Answers -A person who identifies as part of a world community
and works toward building the values and practices of that community
Tribe - Correct Answers -A social group linked by a shared belief or interest.
Product - Correct Answers -An item sold by a brand
Story - Correct Answers -A narrative that incorporates the feelings and facts created by
your brand, intended to inspire an emotional reaction
Understanding motivation - Correct Answers -positive, intrinsic: I want to do this to feel
good
negative, intrinsic: I need to do this or I'll feel bad
positive, extrinsic: If I do this, I'll get a reward
negative, extrinsic: If I don't do this, I'll face a penalty
Cost per click (CPC) - Correct Answers -Refers to when an advertiser pays only when
their ad is clicked on, giving them a visitor to their site typically from a search engine in
pay-per-click search marketing or programmatic CPC buying
engines.
Creating demand - Correct Answers -Inform, persuade, and remind are the 3 step
process
Ad servers - Correct Answers -You can send a line of code that calls up to every time
an ad is scheduled to run - they hate lots of data
Extrinsic motivators - Correct Answers -Limited time specials and discounts, scarcity,
loyalty programmes, ancillary benefits, free content or downloads
Intrinsic motivators - Correct Answers -Love, enjoyment and fun, self expression,
personal values, achievement or competence, negative intrinsic motivators (fear,
embarrassment, inertia)
QUESTIONS AND ANSWERS
Cluetrain Manifesto - Correct Answers -A set of 95 theses organised as a call to action
(CTA) for businesses operating within a newly connected marketplace, published in
1999. While some of the book's claims have failed to materialise, it was an early source
of guidelines for social media and obtained a cult-
like following
Market share - Correct Answers -In strategic management and marketing, market share
is the percentage or proportion of the total available market or market
segment that is being serviced by a company.
Pay per click (PPC) - Correct Answers -Advertising where the advertiser pays only for
each click on their advert, not for the opportunity for it to be seen or
displayed.
Return on investment
(ROI) - Correct Answers -The ratio of cost to profit.
Search engine optimisation
(SEO) - Correct Answers -The practice that aims to improve a website's ranking for
specific keywords in the search engines.
Strategy - Correct Answers -A set of ideas that outline how a product or brand will be
positioned and achieve its objectives. This guides decisions on how to create,
distribute, promote and price the product or service. Looks at 4 pillars: environment,
business, customers, competitors
Tactic - Correct Answers -A specific action or method that contributes to achieving a
goal
Porter's 5 Forces - Correct Answers -Power of suppliers, power of customers, threat of
new entrants, threat of substitute products --> competitive rivalry within industry
5 P's of marketing mix - Correct Answers -Product, price, place, promotion, people
SWOT - Correct Answers -Strength, weakness, opportunities, threats
, What do objectives need to be? - Correct Answers -SMART: specific, measurable,
attainable, realistic, time-bound
Attention economy - Correct Answers -The idea that human attention is a scarce
commodity i.e. seeing attention as a limited resource.
Customer experience map - Correct Answers -A visual representation of the customers'
flow from beginning to end of the purchase experience, including their needs, wants,
expectations and overall experience.
Customer persona - Correct Answers -A detailed description of a fictional person to help
a brand visualise a segment of its target market.
Global citizen - Correct Answers -A person who identifies as part of a world community
and works toward building the values and practices of that community
Tribe - Correct Answers -A social group linked by a shared belief or interest.
Product - Correct Answers -An item sold by a brand
Story - Correct Answers -A narrative that incorporates the feelings and facts created by
your brand, intended to inspire an emotional reaction
Understanding motivation - Correct Answers -positive, intrinsic: I want to do this to feel
good
negative, intrinsic: I need to do this or I'll feel bad
positive, extrinsic: If I do this, I'll get a reward
negative, extrinsic: If I don't do this, I'll face a penalty
Cost per click (CPC) - Correct Answers -Refers to when an advertiser pays only when
their ad is clicked on, giving them a visitor to their site typically from a search engine in
pay-per-click search marketing or programmatic CPC buying
engines.
Creating demand - Correct Answers -Inform, persuade, and remind are the 3 step
process
Ad servers - Correct Answers -You can send a line of code that calls up to every time
an ad is scheduled to run - they hate lots of data
Extrinsic motivators - Correct Answers -Limited time specials and discounts, scarcity,
loyalty programmes, ancillary benefits, free content or downloads
Intrinsic motivators - Correct Answers -Love, enjoyment and fun, self expression,
personal values, achievement or competence, negative intrinsic motivators (fear,
embarrassment, inertia)
