BAN 6065 - Marketing Analytics

Mere exposure effect

Mere exposure effect

As exposure to a concept increases, so does favorability towards the concept

Marketing definition

Any business activities that satisfy customer preferences

Three Cs

Customer, Company, Competition

S-T-P

Segmentation, Targeting, Positioning

Segmentation

Identify segmentation variables and develop segment profiles

Targeting

Evaluate and select most attractive segments

Positioning

Differentiate the company so it is meaningful to consumers

Four P’s

Product, Price, Place, Promotion

Advantages of segmentation

Improved targeting, profits, and customer retention

Disadvantages of segmentation

Time consuming, complicated, expensive

Key segmentation criteria

Differentiation, homogeneity, recognizability, actionability, balance, longevity

Typical steps of a segmentation study

Discovery workshop, qualitative exploration, quantitative validation, analysis, segment workshop

Segment differentiation

segments clearly distinguished from each other

Segment homogeneity

Customers within a segment are similar to each other

Segment recognizability

Easy to identify qualitatively and quantitatively

Segment actionability

It is clear which segments should be targeted and they are large enough to justify targeting

Segment balance

Accounts for both behaviors and attitudes

Segment longevity

Anchored in criteria that don’t change too frequently

Latent Class Analysis

Uses distribution of data to create groups, use Bayesian Information Criterion (BIC) to determine number of clusters

Advantages of latent class analysis

More flexible than k-means, useful when data doesn’t have strong segment differentiation

Disadvantages of k-means

Clusters of differing sizes, non-globular shapes, density or outliers in data can cause problems

Digital marketing definition

Using any digital technology to facilitate the marketing process

Three I’s of Digital Marketing

Intimacy, Immediacy, Incrementality

Marketing funnel

Awareness, Intent, Conversion, Retention

Digital marketing awareness

Online display ads

Digital marketing intent

Search ads

Digital marketing conversion

E-commerce and mobile apps

Digital marketing retention

Social media

Pageviews

Number of times a page has been shown to users (Hits/Files)

Hits

Number of files served to website visitors (Pageviews * Files)

Impressions

Number of times an ad has been shown to site visitors

Clickthrough rate

Clicks/Impressions

Cost per Impression

Ad cost/Impressions, usually expressed in cost per thousand impressions

Bounce rate

Measure of how effective is at generating relevant traffic (Visits only accessing one page/Total site visits)

Is a high bounce rate always bad?

No, it can also indicate that site visitors are easily able to find the information they need on a single page

Methods of clustering

Density based, latent class, distance based (e.g. k-means)

Short-tail keywords

High search volume and high price

Long-tail keywords

Low search volume and low price

Is advertising part of the four P’s?

Yes, it is a form of promotion

Ad rank

Ad price * Ad quality score

What determines ad quality?

Landing page quality, relevance, clickthrough rate

How much does an ad auction winner pay per click?

The bid of the entity with the second highest ad rank plus one cent

How much will the second highest bidder pay to display their ad?

You don’t pay for an ad until someone clicks on it

How did Target reposition themselves as a “one-stop shop?”

Targeted advertising to customers likely to be in a major life transition, such as likely expecting mothers

3 types of Power BI

Cloud, desktop, mobile app

Power BI cloud service

Limited functionality, can only load CSV data, mostly used for viewing previously created reports and dashboards

Power BI desktop

Can load many types of data, build models, clean/organize/query data, work offline

Power BI app

Allows easy access to reports and dashboards on the go

Uses for R scripts in Power BI

Load data, clean and analyze data, build visuals

What is modeling in Power BI?

Building relationships between entities

How long does it take to establish a session?

30 minutes is the default

Is scrolling through a page counted as part of the same session?

Yes, scrolling does not establish a new session

Affinity group

Consumer’s long-term interests and lifestyle ("movie lovers” on exam!)

In-market group

Actively looking for a product (e.g. a TV)

Source

Specific site (e.g. amazon.com, google.com)

Medium

Generalized (e.g. email)

What is the source and medium for someone who opens a web browser and types in “amazon.com?”

Source: direct, Medium: none

Tagged URL

Barcode found in website URL that allows you to collect where users came from

Which of the following is a correct statement about marketing?

Marketing is an art but not a science

Selling is one of the functions of marketing.

Marketing is advertising.

Marketing is all about some grand ideas.

Selling is one of the functions of marketing.

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called  ______.

niche markets

demographic markets

focused markets

target markets

target markets

What was the key for making Febreze’s marketing revamp successful?

Procter and Gamble changed how customers perceived the product.

What cluster analysis methods have you been exposed to in this class?

Density-based, latent class, k-means, DBSCAN, distance-based

What is the newest component in the AICR marketing funnel?

retention

If a website served three files per page and generated 300,000 pageviews, what's the total hits?

900,000

A  ______ occurs anytime a user access a page on a website.

pageview

Amber's analytics tells her that last week her site had 3,000 sessions but only 2,500 users. What explains this discrepancy?

Some users had multiple sessions.

A clickthrough rate of 0.5% is bad.

Unknown (situational)

T/F: A typical cost per impression is in the range of $5 ~ $10.

False

If someone stops browsing your website for over ________ minutes and then navigates to view another page on your website, then a new session will be reported by Google Analytics.

30

Among the metrics Visitors, Visits, Pageviews, and Hits, the smallest one is ________; the largest one is ________.

Visitors, Hits

Of 500 sessions that occurred on a website during a one-week period, 200 of them started on the homepage; 100 of these 200 sessions saw only the homepage before leaving the site. Of the 300 sessions that started on other pages, 100 of them consisted of only one pageview. Which is higher: the site bounce rate or the homepage’s bounce rate?

Homepage

High bounce rate is always bad.

False

During a one-week period, a website had 3,000 total pageviews from 500 sessions. What is the site’s average page depth?

6

A website that sells software made 100 sales of $200 each from 2,000 sessions (for a total of $20,000 in revenue and profit—the marginal cost of these sales was $0.) The average cost to generate each session was $5 (the traffic came from a paid advertising campaign). Were these 2,000 sessions profitable?

Yes

The number of clicks for a search ad is 50 and the number of impressions is 5,000. The CTR of the ad would be ______.

1%

Studies show that a good click-through rate is about ______ for online search ads like Google Ads.

6-7%

Which of the following are "sources" in Google Analytics? Select all that apply.

cpc

email

walmart.com

(direct)

google

bing

walmart.com, (direct), google, bing

Which of the following are "mediums" in Google Analytics? Select all that apply.

(direct)

referral

mail.google.com

affiliate

(none)

organic

referral, affiliate, (none)

Which of the following is an example of the "Affinity Categories" in Google Analytics?

movie lover

age

location

in the market of purchasing a computer

movie lover

Keywords for online paid search advertising depend on  ______. Select all that apply.

search volume

competition

search intent

search volume, competition, search intent

Benefits of a website using long trail keywords include all of the following, except  ______.

can generate significant traffic and revenue for a website

can be more relevant and easier to rank than a generic term

generates a higher volume of traffic than fat head keywords

a website can rank well for multiple long tail terms

a website can rank well for multiple long tail terms

Advertisers should use an exact match search methodology under all of the following conditions, except  ______.

conversions are being achieved and meeting expectations

the search query report is showing a large number of irrelevant keyword search results where the company does not want the ad to appear

the advertiser is certain about the keyword phrase searchers will use

conversions are being achieved and meeting expectations

The three keyword match types we discussed in class, broad match, exact match, and phrase match, vary in how close the search term and the keyword have to be in order to trigger the ad. Which match type is in the middle (not the closest but not the furthest)?

phrase match

With the automated auction system for bidding on keyword search advertising, the cost-per-click (CPC) an advertiser will pay is ______.

one penny more than the second-highest bidder

Which of the following is NOT recommended to be shown in a search ad?

call to action

unique value proposition

reference to competitors

keywords

reference to competitors

Which of the following is NOT used when calculating an ad’s Quality Score?

landing page experience

organic search ranking

expected CTR

ad relevance

organic search ranking

NSAMCWADLP menas that whenever you create an online marketing campaign, you should also create

a new email broadcast to inform customers of the marketing campaign

a new analytics account to track the results of the campaign

a dedicated landing page designed specifically for that campaign

a separate line in the accounting ledger to independently track revenues from the campaign

a dedicated landing page designed specifically for that campaign

Three advertisers bid on an ad position. All the three's max willingness to pay is $4.00. The Quality Score of them are 8 (Advertiser A), 6 (Advertiser B), and 3 (Advertiser C), respectively. How much does the winner pay?

$3.01

A common thread in all calls to action is that they include ______.

action verbs

I can win a Google auction as long as my bidding price is competitive.

False

A website that sells high-end ties notices that its ads are showing up for searches that include "cheap". Because its ties are expensive, it does not want its ads to show up for searchers using the word "cheap." What should the website do?

Add the word “cheap” to its negative keyword list.

Our class has discussed ______ way(s) to run an R script within Power BI.

Three

In Power BI, "modeling" means analyzing data using analytics models such as linear regression and logistic model.

False