Podcast
Questions and Answers
What is the difference between primary and secondary data?
What is the difference between primary and secondary data?
- Primary data is collected from surveys, while secondary data is collected from experiments.
- Primary data is collected from internal sources, while secondary data is collected from external sources.
- Primary data is collected for a specific purpose, while secondary data is already available from second sources. (correct)
- Primary data is collected for general purposes, while secondary data is collected for specific purposes.
What does CRM stand for and what does it involve?
What does CRM stand for and what does it involve?
- Consumer Resource Management, involving managing consumer resources and generating consumer marketing.
- Customer Relationship Management, involving making brand meaningful to the consumer and consumer generated marketing. (correct)
- Consumer Relationship Management, involving managing relationships with consumers effectively.
- Customer Resource Management, involving managing customer resources efficiently.
What is the equation for Customer Lifetime Value (CLV)?
What is the equation for Customer Lifetime Value (CLV)?
- $Total Revenue \times Total Cost$
- $Total Revenue + Total Cost$
- $Total Revenue - Total Cost$ (correct)
- $Total Revenue / Total Cost$
What is the main purpose of a Market-Oriented Mission Statement (MOMS)?
What is the main purpose of a Market-Oriented Mission Statement (MOMS)?
What distinguishes a Market-Oriented Mission Statement (MOMS) from a traditional Mission Statement (MS)?
What distinguishes a Market-Oriented Mission Statement (MOMS) from a traditional Mission Statement (MS)?
Which of the following characteristics best aligns with SMART goals?
Which of the following characteristics best aligns with SMART goals?
What is the purpose of time-bound goals according to the text?
What is the purpose of time-bound goals according to the text?
When conducting the "5C's framework" research, what is the primary focus?
When conducting the "5C's framework" research, what is the primary focus?
What is the main objective of exploratory research as discussed in the text?
What is the main objective of exploratory research as discussed in the text?
What is the purpose of observational research methods such as ethnography and netnography?
What is the purpose of observational research methods such as ethnography and netnography?