Question 1

Descriptive analytics can be used to categorize customers into homogenous RFM segments based on their previous purchasing behavior.

Accepted Answer

A) True 
 B)False

Question 2

Marketing prescriptive models can be used to create a balance between type I and type II errors.

Accepted Answer

A) True 
 B)False

Question 3

Marketing prescriptive models can utilize RFM data to maximize future valuation of marketing campaigns under limited campaign resources.

Accepted Answer

A) True 
 B)False

Question 4

The objective function of linear programming models with a single RFM dimension seeks to:

Accepted Answer

A)  Minimize the expected revenue of the marketing campaign. 
B)  Maximize the expected revenue of the marketing campaign. 
C)  Maximize the expected number of purchases during the marketing campaign. 
D)  Maximize the expected recency of the marketing campaign. 
A)  Minimize the expected revenue of the marketing campaign. 
B)  Maximize the expected revenue of the marketing campaign. 
C)  Maximize the expected number of purchases during the marketing campaign. 
D)  Maximize the expected recency of the marketing campaign.

Question 5

Marketing prescriptive models can be used to:

Accepted Answer

A)  Identify which customer segments will be most profitable. 
B)  Determine whether to continue promotional spending in order to generate future sales. 
C)  Determine whether to curtail spending and allocate marketing resources to more profitable customer targets. 
D)  All of the above 
A)  Identify which customer segments will be most profitable. 
B)  Determine whether to continue promotional spending in order to generate future sales. 
C)  Determine whether to curtail spending and allocate marketing resources to more profitable customer targets. 
D)  All of the above

Question 6

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

Accepted Answer

A)  An upselling strategy 
B)  A "We Want You Back" strategy 
C)  A "Buy One, Get One Free" strategy 
D)  All of the above 
A)  An upselling strategy 
B)  A "We Want You Back" strategy 
C)  A "Buy One, Get One Free" strategy 
D)  All of the above

Question 7

When the decision maker changes the binary requirement of the decision variables to become continuous variables in order to allow the partial reach of a given group, the solution will indicate:

Accepted Answer

A)  A greater-than-or-equal-to final value for the objective function. 
B)  A lower-than-or-equal-to final value for the objective function. 
C)  That the available budget will not be used. 
D)  That available budget usage will not change. 
A)  A greater-than-or-equal-to final value for the objective function. 
B)  A lower-than-or-equal-to final value for the objective function. 
C)  That the available budget will not be used. 
D)  That available budget usage will not change.

Question 8

Which of the following is not required for a successful marketing analytics project?

Accepted Answer

A)  Supportive analytics culture and support from the top management team 
B)  Appropriate data and analytics skills 
C)  Necessary information technology support 
D)  All of the above are required for a successful marketing analytics project 
A)  Supportive analytics culture and support from the top management team 
B)  Appropriate data and analytics skills 
C)  Necessary information technology support 
D)  All of the above are required for a successful marketing analytics project

Question 9

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

Accepted Answer

A)  An upselling strategy 
B)  A "We Want You Back" strategy 
C)  A "Buy One, Get One Free" strategy 
D)  All of the above 
A)  An upselling strategy 
B)  A "We Want You Back" strategy 
C)  A "Buy One, Get One Free" strategy 
D)  All of the above

Question 10

Automatic capture of online and offline customer transactions has generated data that can be used to:

Accepted Answer

A)  Generate valuable information about customers. 
B)  Generate information about the purchase patterns of customers. 
C)  Generate information about customer behavior. 
D)  All of the above 
A)  Generate valuable information about customers. 
B)  Generate information about the purchase patterns of customers. 
C)  Generate information about customer behavior. 
D)  All of the above

Question 11

Descriptive marketing analytics are used to help firms to identify current response rates, conversion rates, and campaign profitability.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Descriptive analytics can be used to categorize customers into homogenous RFM segments based on their previous purchasing behavior.

Marketing prescriptive models can be used to create a balance between type I and type II errors.

Marketing prescriptive models can utilize RFM data to maximize future valuation of marketing campaigns under limited campaign resources.

The objective function of linear programming models with a single RFM dimension seeks to:

Marketing prescriptive models can be used to:

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

When the decision maker changes the binary requirement of the decision variables to become continuous variables in order to allow the partial reach of a given group, the solution will indicate:

Which of the following is not required for a successful marketing analytics project?

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

Automatic capture of online and offline customer transactions has generated data that can be used to:

Descriptive marketing analytics are used to help firms to identify current response rates, conversion rates, and campaign profitability.

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

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Multiple Goals

Business Analytics With Simulation

Filters

Exam 8: Marketing Analytics With Linear Programming

Descriptive analytics can be used to categorize customers into homogenous RFM segments based on their previous purchasing behavior.

Marketing prescriptive models can be used to create a balance between type I and type II errors.

Marketing prescriptive models can utilize RFM data to maximize future valuation of marketing campaigns under limited campaign resources.

The objective function of linear programming models with a single RFM dimension seeks to:

Marketing prescriptive models can be used to:

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

When the decision maker changes the binary requirement of the decision variables to become continuous variables in order to allow the partial reach of a given group, the solution will indicate:

Which of the following is not required for a successful marketing analytics project?

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

Automatic capture of online and offline customer transactions has generated data that can be used to:

Descriptive marketing analytics are used to help firms to identify current response rates, conversion rates, and campaign profitability.

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

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Multiple Goals

Business Analytics With Simulation

Filters