1.
What are the proper ways to size a market?
Correct Answer(s)
A. Guess at how many customers exist by searching the internet for an article with recent figures or purchasing a report
B. Ask your local economic development agency for recent studies
E. Ask your friend who works for a company who is in that industry or space
Explanation
The proper ways to size a market include guessing at the number of customers by searching the internet for an article with recent figures or purchasing a report, asking your local economic development agency for recent studies, and asking your friend who works for a company in that industry or space. These methods provide different sources of information that can help estimate the size of the market.
2.
What are 3 very useful secondary market research resources to help you define a market?
Correct Answer(s)
A. ASAE Directory of Associations Online
B. Economic Statistics & Research
C. Population & DemograpHy Resources
Explanation
The ASAE Directory of Associations Online is a useful secondary market research resource as it provides information on various associations and organizations related to a specific market. Economic Statistics & Research is another valuable resource as it offers data and analysis on economic trends and market conditions. Population & Demography Resources can help in defining a market by providing information on the size, demographics, and characteristics of the target audience.
3.
Do you know the what 2 areas Primary research is divided into?
Correct Answer
A. Reactive and non-reactive research
Explanation
Primary research is divided into reactive and non-reactive research. Reactive research involves actively engaging with participants and collecting data through methods such as interviews, surveys, or observations. Non-reactive research, on the other hand, involves analyzing existing data or materials without directly interacting with participants. This can include analyzing documents, archives, or publicly available information. Both reactive and non-reactive research methods are valuable in gathering primary data and gaining insights into a specific research question or topic.
4.
There are many sources of secondary research material. Which of these are possibly options?
Correct Answer(s)
A. Libraries
B. People in the industry
C. Newspapers
D. Internet
Explanation
It can be found in libraries, colleges, trade and general business publications, and newspapers. Trade associations and government agencies are rich sources of information GALES’ Directory is available at any public library.
5.
Is target marketing and segmentation the same?
Correct Answer
B. No
Explanation
Target marketing and segmentation are not the same. Segmentation refers to dividing a market into distinct groups based on certain characteristics, such as demographics, psychographics, or behavior. Target marketing, on the other hand, involves selecting specific segments as the focus of marketing efforts and developing tailored strategies to reach and appeal to those segments. While segmentation is a process, target marketing is an outcome or result of that process. Therefore, the correct answer is "no."
6.
What is a brand?
Correct Answer
A. A collection of thoughts and perceptions someone has about a product, service, or organization
Explanation
A brand is not just a logo, symbol, or name, but rather a collection of thoughts and perceptions that individuals have about a product, service, or organization. It encompasses the overall image and reputation that people associate with a particular entity. This includes factors such as quality, reliability, customer experience, and values. A brand is essentially the essence of a company, as it represents the emotional and intellectual connection that individuals have with the entity. It is not a formula or system that cannot be broken or stolen, but rather an intangible asset that can be influenced and shaped through strategic branding efforts.
7.
What is branding?
Correct Answer
A. A collection of signals that express the brand idea and help build the associations in someones mind
Explanation
Branding refers to a collection of signals that express the brand idea and help build associations in someone's mind. These signals can include logos, identity kits, stationary, graphics, and cool designs. It is not the act of burning something into an object or the mind, nor is it a hot poker for cattle. Additionally, branding is not something invented by advertisers in the 1950s.
8.
If your landing page was not converting properly what is the one thing that would have the greatest effect to change conversion?
Correct Answer
A. Change the headline
Explanation
Changing the headline on a landing page can have the greatest effect on changing conversion. The headline is the first thing that visitors see and it plays a crucial role in grabbing their attention and conveying the value proposition of the product or service. A compelling and clear headline can entice visitors to continue reading and take the desired action, while a weak or confusing headline may cause them to lose interest and leave the page. Therefore, optimizing the headline can significantly impact the conversion rate of a landing page.
9.
In email marketing what is the number one field that determines the open rate for emails?
Correct Answer
D. Who its from
Explanation
The open rate for emails is determined by who it is from. The recipient is more likely to open an email if they recognize and trust the sender. The sender's reputation, credibility, and previous interactions with the recipient play a crucial role in determining whether the email will be opened or ignored.
10.
When optimizing for PPC ad campaign on google adwords, what is #1 thing that affects click through rates?
Correct Answer
C. The headline
Explanation
The headline is the #1 thing that affects click through rates in a PPC ad campaign on Google AdWords. The headline is the first thing that users see when they come across an ad, and it plays a crucial role in capturing their attention and enticing them to click. A compelling and attention-grabbing headline can significantly increase the click through rates of an ad, while a weak or uninteresting headline may fail to attract users and result in lower click through rates.
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