Exam 8: Marketing Analytics With Linear Programming

The specific cutoff points for each recency category depend on the type of purchases and products.

Which of the following must be captured, stored, and calculated to measure the frequency dimension of the RFM approach?

Predictive marketing analytics are used to predict future response rates, conversion rates, and campaign profitability.

The major purpose of prescriptive marketing analytics is to:

Prescriptive marketing models can be used to identify any of the following except:

The recency-frequency-monetary value framework is an analytical tool that can be used in combination with descriptive, predictive, and prescriptive analytics.

Which of the following Microsoft Excel functions can be used to assign RFM scores for a customer?

Marketing analytics has three dimensions. Which of the following is not such a dimension?

The major purpose of predictive marketing analytics is to:

The major purpose of descriptive marketing analytics is to:

Which of the following must be captured, stored, and calculated to measure the monetary value dimension of the RFM approach?

Which of the following is the main factor that has led to the explosion of available data about customers?

Which of the following is a marketing strategy that can be used when a given customer segment shows relatively high values for frequency and recency, but a low value for monetary value?

Which of the following Microsoft Excel functions can be used to calculate the average amount of sales for a customer?

The challenges and opportunities of implementing marketing analytics in the era of Big Data are similar to those of business analytics. However,

Which of the following Microsoft Excel functions can be used to count the number of purchases for a customer?

Which of the following must be captured, stored, and calculated to measure the recency dimension of the RFM approach?

Linear programming models with a single RFM dimension are formulated as:

The specific cutoff points for each monetary value category depend on the type of purchases and products.

Prescriptive marketing analytics can be used to reallocate future funds of marketing campaigns, provide the best possible mix of marketing channels, and optimize social media scheduling.