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It is no longer true that products must fill an unmet customer need.

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The term "Big Data" describes very large collections of data that are analyzed by computers to reveal useful consumer information.

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Which statement about content marketing is false?


A) If you write a blog as part of a content marketing campaign,you can be sure it will be read.
B) Many of the most popular content marketing strategies are usually fairly inexpensive relative to product marketing strategies
C) Content marketing campaigns can create lasting value
D) content marketing builds brand awareness and fosters strong relationships with customers

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Big Data is primarily used to determine if a company has made a profit.

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Which of the following is not a reason for advertising online?


A) 90% of young adults (ages 18 to 29) engage in social media (which places them online) .
B) The average consumer spends more time online than watching TV and reading print media combined.
C) Companies can collect personal information from those using their websites and possibly sell this information to others
D) By capturing information on customers shopping online,marketers can send relevant ads that match a customer's shopping habits.

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A company using dynamic pricing considers only two factors: consumer demand and alternative products.

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After Facebook purchased Oculus (and Palmer Luckey was no longer connected with the product)the Oculus team decided to use penetration pricing.

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The desire for connectivity by college students requires companies to focus on which of the following product characteristics?


A) It has been around for more than ten years
B) Product can connect to a student's smart phone or tablet
C) product is innovative
D) product is similar to competitor's products

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Which pricing approach calculates the amount that can be spent to make a product by determining how much consumers are willing to pay and then subtracting a reasonable profit?


A) skimming
B) cost-based pricing
C) target costing
D) demand-based pricing

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A revenue optimization system can set a "hurdle" rate - a rate above which the hotel will not price the room.

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Should you be concerned about data security- In a recent survey _______ Americans reported that they do not trust businesses with their personal information online.


A) more than 75%
B) less than 30%
C) approximately 45%
D) approximately 60%

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Which short-term pricing approach did Facebook (owner of Oculus) follow when the company first sold the Oculus Rift?


A) penetration
B) skimming
C) cost-based
D) demand-based

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The practice of using dynamic pricing was started in the 1980’s by American Airlines as an effort to compete with a now out-of-business discounter airline, People’s Express. Dynamic pricing then moved to other industries, including hotels and car rental companies, but only became popular when e-commerce arrived. You are a consultant to a number of different organizations that use dynamic pricing, including American Airlines, St. Louis Cardinals, Coca Cola, and Marriott International. You are advising your clients of the use of dynamic pricing. Here are some questions that they have raised: -What is dynamic pricing?


A) A pricing approach that uses analytics software to improve demand forecasting
B) A pricing approach in which the price of an item changes based on the demographics of individual customers
C) A pricing approach that adjusts prices based solely on fluctuations in competitor's prices
D) A pricing approach where the price of an item changes frequently based on complex algorithms

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More than half of all adults in the U.S.have not shopped online.

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Why would Mark Zuckerberg (CEO of Facebook) pay $3 billion for Oculus?


A) The Oculus Rift competes with Facebook product/services
B) Because Facebook had plenty of cash and could spend it
C) Zuckerberg believed virtual reality is the future and was "awesome"
D) Facebook's users were getting older and he was looking for the next big thing

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One of the reasons Starbucks is successful at content marketing is that its campaigns are community focused.

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An empty hotel room brings in no revenue.Then why wouldn't a hotel manager at a luxury hotel or resort offer a very low,last-minute rate for an unfilled room?


A) it would reduce the manager's bonus which is based on total revenue
B) it would result in a price war with similar hotels or resorts
C) it is likely the person getting the discount rate will cancel
D) to avoid "cheapening" the reputation of the luxury hotel

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Personal information supplied by members of OKCupids,a free online dating site,was protected from release by a privacy agreement between the organization and its members.

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Students use mobile applications primarily for educational purposes.

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Which of following statements about RFID (radio-frequency identification) tags is false?


A) The popularity of RFID has increased
B) An RFID tag attached to a product can be used to trace the product
C) The use of RFID tags increase supply chain member's costs
D) RFID tags can capture data giving managers real-time,up-to-date information

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