Lesson 14 Flashcards
Diagnostic analytics
Helps marketers understand relationships such as a relationship between marketing spending consumer sales
Descriptive analytics
Explains her describes for something looks like such as a customer segment
Predictive analytics
Helps marketers predict what might happen based on a marketing activity
Prescriptive analytics
Tell the market or the optimal level of marketing for reaching a desired result
Which type of marketing analytics approach is being used when data are identified as likes and shares from social media and used to measure engagement
Descriptive
What is an analytic method that predicts the customers preferences for products or services based on the observed preferences of customers who are perceived to be similar
Collaborative filtering
Marketing dashboards
Design to provide management with a real time display of marketing performance dashboards include visual displays for analytics, key performance indicators, and marketing metrics. Marketing dashboards are designed to support continuous monitoring and broad distribution across the organization
Which information can a marketing dashboard sometimes rely too much on
Inside out measurement
Marketing is not just a department but a part of an overall organization. What should marketers feel when using a marketing dashboard?
Share with stakeholders
What are two benefits of a marketing dashboard
Learning and transparency
What is the purpose of return on marketing investment ROMI
To measure the degree to which marketing spending contributes to an organizations profit or bottom line
What is the benefit of ROMI
It provides information to ensure that marketing resources are contributing to the effectiveness of a marketing program
Which metric measures in marketing are based on the revenue or margin generated?
Return on marketing investment ROMI
