Final

Question 1

What does WOM stand for?

Answer 1

Word of Mouth

Question 2

In social media marketing, we can call something viral if it:

Answer 2

Spreads widely and rapidly from one consumer to another.

Question 3

If you are trying to market a mobile app, what or who would represent the viral coefficient?

Answer 3

The number of people that your friends can convince to adopt the app.

Question 4

T/F - The shorter the viral cycle time and the larger the viral coefficient, the more viral the process.

Answer 4

True

Question 5

What does the term “seeding” represent when it comes to a viral marketing campaign?

Answer 5

When you send product samples to a selected group of consumers and ask them to generate buzz about that product and share it with other.

Question 6

According to a recent industry study by the American Marketing Association and Word of Mouth Marketing Association, how many marketers have used or plan to use consumers to start spreading WOM?

Answer 6

Three-quarters

Question 7

T/F - You only need to seed customers with the largest numbers of connections on social networks.

Answer 7

False

Question 8

Typically marketing interventions are needed to “nudge” seeds to spread product-related information. Such interventions usually involve a combination of two types of incentives. They are called:

Answer 8

Extrinsic and intrinsic.

Question 9

What happens if all incentives happen to occur within a short time period?

Answer 9

Seeds will likely stop creating and disseminating product-related information after that period ends.

Question 10

T/F - An important property of social media communications is that conversations do not necessarily stay on topic of the focal point.

Answer 10

True.

Question 11

Social media marketers can collect valuable consumer information simply by:

Answer 11

Observing what consumers do and say on social media sites.

Question 12

It is necessary to measure whether campaign goals are being achieved every time you run an advertising campaign?

Answer 12

Yes

Question 13

T/F - Knowing what drives negative opinions about your brand can be harmful to your company culture.

Answer 13

False

Question 14

What is recommended when selecting social media monitoring tools?

Answer 14

Experiment with free ones first.

Question 15

Which is NOT one of the three key problems in market research?

Answer 15

Conducting market research is inexpensive.

Question 16

How can social media marketers collect valuable consumer information?

Answer 16

Openness

Question 17

T/F -Not all social media sites allow easy collection of the content users generate.

Answer 17

True

Question 18

An example of an engagement metric could be:

Answer 18

Retweets

Question 19

T/F - It’s easier for small brands (rather than big brands) to get users to generate lots of brand-related content pieces.

Answer 19

False

Question 20

An approach that brands can take when identifying key advantages and weaknesses is to look for correlations between certain keywords and volumes and:

Answer 20

The sentiment of consumer-generated content.

Question 21

Consumers are more likely to talk or share information about brands or products that are:

Answer 21

Inherently social

Question 22

When a product is inherently social, you are extrinsically motivated to recruit / acquire new users / customers on behalf of the company.

Answer 22

False

Question 23

When your enjoyment of a product has nothing to do with whether your friends are using it, the product does not have a(n):

Answer 23

Network externality

Question 24

What scenario best describes a positive network externality?

Answer 24

The more friends who use a particular chat app, the more friends you have to chat with, and the more you will enjoy this app.

Question 25

Which scenario best describes a negative network externality?

Answer 25

If you find your friend wearing the same shoes as you, you might enjoy those shoes less because they are no longer unique to you.

Question 26

In this equation: U=I+a*E you would want “a” to be:

Answer 26

As large as possible.

Question 27

T/F - As a marketer, you want to think of ways to make customer’s utility or value a positive function of other customers.

Answer 27

True

Question 28

Increasing positive network externalities is the product and/or decreasing any negative network externalitiies that might be present are both ways you can help consumers:

Answer 28

Spread WOM about your new product and help acquire new customers.

Question 29

Why is it important to create an established customer base.

Answer 29

You can leverage it.

Question 30

T/F - When stimulating demand for a new product or service, start with identifying a large set of target customers who will act as the “seeds” in what will, in effect, be a viral marketing campaign.

Answer 30

False

Question 31

With the wide acceptance of social media as a way for people to communicate, companies now have to deal with what?

Answer 31

Customer feedback on social media.

Question 32

What should a company consider before deciding whether to respond to customer feedback on social media?

Answer 32

Understanding the consequences of the action or inaction & Comparison of the benefits versus costs of the action or inaction. (Both A and C)

Question 33

T/F - It is unnecessary to respond to every form of customer feedback on social media.

Answer 33

True

Question 34

Responding to customer feedback on social media should be seen as an opportunity to contribute toward the company’s:

Answer 34

Marketing objectives and generate value.

Question 35

Which company from the book encourages customers to tweet to a specified Twitter account for real-time customer support?

Answer 35

Delta

Question 36

What really sets social media apart as a customer service / support channel?

Answer 36

A consumer interaction occurs in a publicly accessible and highly visible manner.

Question 37

Customer feedback on social media can come in many forms. Which one is not mentioned in the book?

Answer 37

None of the above.

Question 38

T/F - With the advances in today’s social media technology, human effort isn’t required anymore when responding to customers.

Answer 38

False

Question 39

T/F - As a general rule, it is recommended that companies at least monitor the feedback they are receiving on various social media platforms.

Answer 39

True

Question 40

When choosing to respond to customer feedback, social media managers need to consider all of the following EXCEPT:

Answer 40

The social media impact score of responding.