Question 1

A cross-selling opportunity is created when a consumer purchases only a single product.

Accepted Answer

A) True 
 B)False  False

Question 2

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

Accepted Answer

A) dividing the customers according to the amount spent on purchases 
B) sorting customer purchase records based on the purchase frequency 
C) sorting customer purchase records by the date of most recent purchase 
D) dividing customers into two groups based on the gender and giving each group a score 
A) dividing the customers according to the amount spent on purchases 
B) sorting customer purchase records based on the purchase frequency 
C) sorting customer purchase records by the date of most recent purchase 
D) dividing customers into two groups based on the gender and giving each group a score C

Question 3

The ratio of confidence to the base probability of buying an item is called support.

Accepted Answer

A) True 
 B)False  False

Question 4

RFM scores are basically beneficial to salespeople, as it gives a clear picture of a customer's buying pattern.

Accepted Answer

A) True 
 B)False

Question 5

Cheryl Inc., a leading cosmetics manufacturer, wants to identify its most valued customers.Each customer is assigned an RFM score based on their purchasing patterns.One of their valued customers has an RFM score of 545.In this case, the ideal action for Cheryl's sales team is to ________.

Accepted Answer

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

Question 6

The more frequently two items occur in the same transaction, the higher the probability of them being purchased together.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following techniques uses a hierarchical arrangement of criteria to predict a classification or value?

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 8

Define the three market-basket terminologies: support, confidence, and lift.

Accepted Answer

In market-basket terminology, support is

Question 9

Which of the following RFM scores refers to the most valuable customer?

Accepted Answer

A) 111 
B) 555 
C) 123 
D) 333 
A) 111 
B) 555 
C) 123 
D) 333

Question 10

What is database marketing?

Accepted Answer

Database marketing is the application of

Question 11

In RFM analysis, an R score of 5 shows that ________.

Accepted Answer

A) a customer has not made any recent purchases 
B) a customer has bought the most expensive items 
C) a customer has frequently ordered expensive items 
D) a customer has purchased the least expensive items 
A) a customer has not made any recent purchases 
B) a customer has bought the most expensive items 
C) a customer has frequently ordered expensive items 
D) a customer has purchased the least expensive items

Question 12

RFM analysis is a complex technique that is difficult to implement.

Accepted Answer

A) True 
 B)False

Question 13

What is a market-basket analysis?

Accepted Answer

A market-basket analysis is a data minin

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

In market-basket terminology, the ratio of confidence to the base probability of buying an item is called ________.

Accepted Answer

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

Question 16

RFM analysis can be a useful tool to determine the best customers based on the frequency of their purchases.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following marketing techniques refers to the application of business intelligence systems to the planning and execution of marketing programs?

Accepted Answer

A) ambush marketing 
B) viral marketing 
C) database marketing 
D) guerrilla marketing 
A) ambush marketing 
B) viral marketing 
C) database marketing 
D) guerrilla marketing

Question 18

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

Accepted Answer

A decision tree is a hierarchical arrang

Question 19

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

Accepted Answer

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

Question 20

________ shows how much the base probability increases or decreases when other products are purchased.

Accepted Answer

A) Lift 
B) Support 
C) Confidence 
D) Cohesion 
A) Lift 
B) Support 
C) Confidence 
D) Cohesion

Exam 24: Database Marketing

A cross-selling opportunity is created when a consumer purchases only a single product.

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

The ratio of confidence to the base probability of buying an item is called support.

RFM scores are basically beneficial to salespeople, as it gives a clear picture of a customer's buying pattern.

Cheryl Inc., a leading cosmetics manufacturer, wants to identify its most valued customers.Each customer is assigned an RFM score based on their purchasing patterns.One of their valued customers has an RFM score of 545.In this case, the ideal action for Cheryl's sales team is to ________.

The more frequently two items occur in the same transaction, the higher the probability of them being purchased together.

Which of the following techniques uses a hierarchical arrangement of criteria to predict a classification or value?

Define the three market-basket terminologies: support, confidence, and lift.

Which of the following RFM scores refers to the most valuable customer?

What is database marketing?

In RFM analysis, an R score of 5 shows that ________.

RFM analysis is a complex technique that is difficult to implement.

What is a market-basket analysis?

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

In market-basket terminology, the ratio of confidence to the base probability of buying an item is called ________.

RFM analysis can be a useful tool to determine the best customers based on the frequency of their purchases.

Which of the following marketing techniques refers to the application of business intelligence systems to the planning and execution of marketing programs?

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

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

________ shows how much the base probability increases or decreases when other products are purchased.

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