Question 1

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

Question 2

Customers with an RFM score of 555 are highly valued by organisations.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is the basic idea of the decision tree technique?

Accepted Answer

A) to use the minimum difference among the groups created by the decision tree algorithm 
B) to select attributes that are most useful for classifying entities on some criterion 
C) to perform an RMF analysis and rank consumer according to their purchasing patterns 
D) to produce computer programs for information systems 
A) to use the minimum difference among the groups created by the decision tree algorithm 
B) to select attributes that are most useful for classifying entities on some criterion 
C) to perform an RMF analysis and rank consumer according to their purchasing patterns 
D) to produce computer programs for information systems

Question 4

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

Accepted Answer

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

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

In RFM analysis,an M score of ________ shows customers who have bought the least expensive item.

Accepted Answer

A) 2 
B) 5 
C) 4 
D) 1 
A) 2 
B) 5 
C) 4 
D) 1

Question 7

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

Question 8

In market-basket terminology,a conditional probability estimate is referred to as ________.

Accepted Answer

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

Question 9

A high F score denotes that the customer has bought an expensive item recently.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Databases are a key component of database marketing.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

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

Question 13

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

Accepted Answer

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

Question 14

What is a market-basket analysis?

Accepted Answer

Market-basket analysis is a data-mining

Question 15

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

Accepted Answer

A decision tree is a hierarchical arrang

Question 16

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

Question 17

Describe the process of conducting RFM analysis.

Accepted Answer

RFM analysis is a way of analysing and r

Question 18

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

Accepted Answer

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

Question 19

The frequency of customer purchases is not a determining factor for RFM score.

Accepted Answer

A) True 
 B)False

Question 20

A minimum difference among groups is used as the criterion for constructing the decision tree.

Accepted Answer

A) True 
 B)False

Exam 24: Database Marketing

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

Customers with an RFM score of 555 are highly valued by organisations.

Which of the following is the basic idea of the decision tree technique?

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

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

In RFM analysis,an M score of ________ shows customers who have bought the least expensive item.

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

In market-basket terminology,a conditional probability estimate is referred to as ________.

A high F score denotes that the customer has bought an expensive item recently.

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

Databases are a key component of database marketing.

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

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

What is a market-basket analysis?

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

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

Describe the process of conducting RFM analysis.

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

The frequency of customer purchases is not a determining factor for RFM score.

A minimum difference among groups is used as the criterion for constructing the decision tree.

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