Question 1

Which of the following is the first step in the process of producing an RFM score?

Accepted Answer

A) calculating income from most frequently bought items 
B) calculating sales of the previous quarter 
C) sorting customer purchase records by the date of most recent purchase 
D) verifying customer IDs 
A) calculating income from most frequently bought items 
B) calculating sales of the previous quarter 
C) sorting customer purchase records by the date of most recent purchase 
D) verifying customer IDs

Question 2

In RFM analysis,an F score of 1 shows that ________.

Accepted Answer

A) the customer has bought the least expensive item 
B) the customer has frequently placed an order 
C) the customer has always bought the most expensive item 
D) the customer has rarely made a purchase 
A) the customer has bought the least expensive item 
B) the customer has frequently placed an order 
C) the customer has always bought the most expensive item 
D) the customer has rarely made a purchase

Question 3

What is database marketing?

Accepted Answer

Database marketing is the application of

Question 4

In market-basket analysis terminology,confidence refers to the probability that two items will be bought together.

Accepted Answer

A) True 
 B)False

Question 5

Decision-tree analysis is a data mining technique that requires a high degree of supervision.

Accepted Answer

A) True 
 B)False

Question 6

An RFM score of ________ means that if this customer goes to the competitor,loss to the company will be minimal.

Accepted Answer

A) 321 
B) 333 
C) 555 
D) 111 
A) 321 
B) 333 
C) 555 
D) 111

Question 7

The decision tree makes decisions based on If/Then decision rules.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following techniques uses a hierarchical arrangement of criteria to make predictions?

Accepted Answer

A) market-basket analysis 
B) RFM technique 
C) Cooke method 
D) decision tree 
A) market-basket analysis 
B) RFM technique 
C) Cooke method 
D) decision tree

Question 9

A market-basket analysis shows that the support for products A and B is very high.This means that probability of buying B is very high if the customer has bought A.

Accepted Answer

A) True 
 B)False

Question 10

A customer obtains an RFM score of 555.This means that the customer is very important to the seller.

Accepted Answer

A) True 
 B)False

Question 11

What is the basic idea of the decision tree technique?

Accepted Answer

A) to analyze and rank customers according to their purchasing patterns 
B) to select attributes that are most useful for classifying entities on some criterion 
C) to determine annual sales patterns 
D) to capture,store,analyze,and display geospatial data 
A) to analyze and rank customers according to their purchasing patterns 
B) to select attributes that are most useful for classifying entities on some criterion 
C) to determine annual sales patterns 
D) to capture,store,analyze,and display geospatial data

Question 12

Market-basket analysis is used to explore cross-selling opportunities.

Accepted Answer

A) True 
 B)False

Question 13

In market-basket terminology,________ is the term used to represent the probability that two items will be purchased together.

Accepted Answer

A) confidence 
B) support 
C) cohesion 
D) assurance 
A) confidence 
B) support 
C) cohesion 
D) assurance

Question 14

The RFM score of customers is obtained by multiplying their recency score,frequency score,and money score.

Accepted Answer

A) True 
 B)False

Question 15

RFM analysis does not provide an understanding of the dollar value spent by a customer.

Accepted Answer

A) True 
 B)False

Question 16

In marketing transactions,the fact that customers who buy product X also buy product Y creates a ________ opportunity.

Accepted Answer

A) relationship selling 
B) cross-selling 
C) value added selling 
D) persuasive selling 
A) relationship selling 
B) cross-selling 
C) value added selling 
D) persuasive selling

Question 17

Data mining techniques are essential for database marketing.

Accepted Answer

A) True 
 B)False

Question 18

A shop finds that the M score of a customer is 1.This means that the customer has paid high dollar value to the shop.

Accepted Answer

A) True 
 B)False

Question 19

What are decision trees? How do they classify people into groups?

Accepted Answer

A decision tree is a hierarchical arrang

Question 20

If a customer has an RFM score of 113,which of the following actions should be implemented by the sales team?

Accepted Answer

A) should attempt to up-sell more expensive goods to this customer 
B) should contact this customer immediately 
C) should not waste any time on this customer 
D) should set up an automated contact system for this customer 
A) should attempt to up-sell more expensive goods to this customer 
B) should contact this customer immediately 
C) should not waste any time on this customer 
D) should set up an automated contact system for this customer

Exam 24: Database Marketing

Which of the following is the first step in the process of producing an RFM score?

In RFM analysis,an F score of 1 shows that ________.

What is database marketing?

In market-basket analysis terminology,confidence refers to the probability that two items will be bought together.

Decision-tree analysis is a data mining technique that requires a high degree of supervision.

An RFM score of ________ means that if this customer goes to the competitor,loss to the company will be minimal.

The decision tree makes decisions based on If/Then decision rules.

Which of the following techniques uses a hierarchical arrangement of criteria to make predictions?

A market-basket analysis shows that the support for products A and B is very high.This means that probability of buying B is very high if the customer has bought A.

A customer obtains an RFM score of 555.This means that the customer is very important to the seller.

What is the basic idea of the decision tree technique?

Market-basket analysis is used to explore cross-selling opportunities.

In market-basket terminology,________ is the term used to represent the probability that two items will be purchased together.

The RFM score of customers is obtained by multiplying their recency score,frequency score,and money score.

RFM analysis does not provide an understanding of the dollar value spent by a customer.

In marketing transactions,the fact that customers who buy product X also buy product Y creates a ________ opportunity.

Data mining techniques are essential for database marketing.

A shop finds that the M score of a customer is 1.This means that the customer has paid high dollar value to the shop.

What are decision trees? How do they classify people into groups?

If a customer has an RFM score of 113,which of the following actions should be implemented by the sales team?

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