Data Analytics Methods for Marketing Coursera Quiz Answers

All Weeks Data Analytics Methods for Marketing Coursera Quiz Answers

Data Analytics Methods for Marketing Week 01 Quiz Answers

Practice Quiz: Segmentation in Marketing

Q1. Segmentation is…

• A way to sort people in groups based on characteristics they have in common
• A way to sort people based on unstructured data
• A way to sort people based on what they buy

Q2. True or false, segmentation from data analysis is one of the two forms of segmentation.

• True
• False

Q3. True or false, psychographic segmentation is the most powerful form of segmentation.

• True
• False

Q4. Which of the following are forms of behavioral segmentation… (Select all that apply)

• Values
• Location
• Spending habits
• Product usage

Q5. A contextual targeting vendor understanding the difference between the Miami Dolphins football team and dolphins in the ocean is an example of…

• Semantic understanding
• Wisdom of the Crowd
• One to one personalization
• Segmentation and targeting

Practice Quiz: Cluster Analysis

Q1. What is“K” defined as in K-means clustering?

• The variance of the clusters
• The Euclidean distance between two points
• The number of clusters
• The distance between two centroids

Q2. What is the Euclidean distance between these two points?

• 3.91
• 2.93
• 0.25
• 3.16

Q3. What is the variance for the following data set: 2,4,5,6,8

• 4
• 6
• 5
• 8

Q4. What does the Dunn Index measure?

• The distance between two points
• Both the tightness of clusters and how far apart clusters are
• How far apart clusters are
• How tight clusters are

Q5. When calculating variance for your clusters in k-means clustering, you are looking for the ______ total variance across clusters

• Lowest
• Highest

Graded Quiz: Segmentation

Q1. What are the two forms of Segmentation? (Choose two)

• Segmentation developed from media
• Segmentation developed from a persona
• Segmentation developed from data analysis
• Segmentation developed from product-customer fit

Q2. True or False: One to Two is a kind of personalization.

• True
• False

Q3. A CDP is a database that builds a complete picture of your customers on an individual level. True or False?

• False
• True

Q4. What is the first step in creating a K-means clustering analysis?

• Define K
• Calculate the Euclidean distance between each point and each centroid
• Establish K number of centroids at random
• Establish baseline clusters

Q5. The Elbow Criterion is used for…

• determining the number of clusters to use for an analysis
• identifying points of change in trend analysis
• determining the number of iterations you should use while creating clusters

Q6. Profiling Clusters does NOT do which of the following?

• Describe what makes people in a cluster similar to each other.
• Describe what makes people from different clusters different.
• Describe what makes people in a cluster similar to each other and what makes people from different clusters different.
• None of these answers.

Q7. Segmentation does not..

• Help us target the whole world
• Help us understand our audience
• Helps us set up campaigns in our audience buying platforms.
• Help us reach the right users with our media

Q8. Which of the following is a segmentation variable commonly used in marketing?

• Demographic
• Photographic
• Infographic
• Media Consumption

Q9. Values, Motivations, and Beliefs are examples of what kind of segmentation variable?

• Behavioral
• Infographic
• Geographic
• Psychographic

Q10. Cluster Analysis is the most common analytical approach used for segmentation.  True or False?

• False
• True

Data Analytics Methods for Marketing Week 02 Quiz Answers

Practice Quiz: Descriptive Methods

Q1. You can have multiple secondary KPIs.

• True
• False

Q2. “How has inventory moved in the last 12 months?” is a question that would use _____ analytics to find the answer.

• Prescriptive
• Predictive
• Descriptive

Q3.

What is the ROAS for the campaign displayed here?

• 200%
• $100
• $3000
• 100%

Q4. What are the two key differences between ROI and ROAS?

• ROAS only uses direct advertising spend, whereas ROI uses all costs
• ROI only uses direct advertising spend, whereas ROAS uses all costs
• ROAS uses revenue, not profit
• ROI is generally used in advertising, while ROAS is generally used in finance

Q5. Which of the following could be examples of customer profitability segmentation strategies? (Choose all that apply)

• B2B vs. B2C segmentation
• RFM analysis
• Persona-based segmentation
• CPM analysis

Practice Quiz: Customer Lifetime Value

Q1. What is the acronym for customer lifetime value?

• CLTV
• CLV
• CTV
• CULV

Q2. COGS stands for…

• Cost of goods sent
• Cost of goods sold
• Cost of goal sold
• Core of goods sold

Q3. If the average customer retention period is 2 years with an average of 7 transactions over that time period and the gross profit margin is 30%, what is the overall CLTV of the following data set?

Customer	Sales	Number of transactions
Customer 1	$200	2
Customer 2	$300	4
Customer 3	$250	3

• $300
• $350
• $150
• $250

Q4. If the average customer retention period is 2 years with an average of 7 transactions over that time period and the gross profit margin is 30%, what is the CLTV of Customer 2?

Customer	Sales	Number of transactions
Customer 1	$200	2
Customer 2	$300	4
Customer 3	$250	3

• $350
• $300
• $315
• $250

Q6. If your revenue is $3,000 and your COGS is $1,800, what is your gross profit margin?

• 30%
• 60%
• 50%
• 40%

Graded Quiz: Planning and Forecasting

Q1. You can have multiple primary KPIs. True or False?

• False
• True

Q2. “How has inventory moved in the last 12 months?” is a question that would use _____ analytics to find the answer.

• Predictive
• Descriptive
• Prescriptive

Q3. The ROAS for the following numbers is 200%. True or False?

• True
• False

Q4. ROAS use Revenue, ROI use Profits. True or False?

• True
• False

Q5. What is the acronym for customer lifetime value?

• CTV
• CULV
• CLV
• CLTV

Q6. The acronym for Cost of Goods Sold is…

• COG
• CG
• CGS
• COGS

Q7. If the average customer retention period is 2 years with an average of 7 transactions over that time period and the gross profit margin is 30%, what is the CLTV of Customer 3?

Customer	Sales	Number of transactions
Customer 1	$200	2
Customer 2	$300	4
Customer 3	$250	3

• $315
• $250
• $350
• $300

Q8. If your revenue is $4,000 and your COGS is $1,000, what is your gross profit margin?

• 60%
• 75%
• 50%
• 25%

Q9. Does customer satisfaction impact sales? Is a question that can be answered using linear regression. True or False?

• False
• True

Q10. Types of Regression include: (select all that apply)

• Linear
• Legitimate
• Logistic
• Multivariate

Data Analytics Methods for Marketing Week 03 Quiz Answers

Practice Quiz: Ad Effectiveness Measurement

Q1. SMART Goals are:

• Systematic Marketing And Realty Time-Lines
• Specific Measurable Achievable Realistic Time Bound
• Simple Meaningful Accurate Relevant Targeted
• Small Manageable Accurate Real Terrific

Q2. KPIs can help because they are specific metrics that can be used to measure progress. True or False?

• True
• False

Q3. The two methods you can use to evaluate ad effectiveness are:

• Experimental and Observational Methods
• Observational methods and KPI evaluation
• KPI evaluation and SMART Goal setting
• SMART Goal setting and Experimental methods

Q4. If you are running an ad with a “click to subscribe” button, can you measure the effectiveness of the ad ONLY by counting the number of customers who subscribed by clicking the button?

• No
• Yes

Practice Quiz: Measuring Ad Effectiveness with Experiments

Q1. Results of an experiment include: (select all that apply)

• Number of incremental results caused by your treatment
• Measure of confidence in the results
• Report output
• A winner

Q2. What could the effect be of using ITT (Intention to Treat) on the incremental impact of your campaign results?

• Result remains the same
• The incremental impact you observe may be lower

Q3. Randomization is the process of assigning people to groups based on a common trait that is selected at random. True or False?

• False
• True

Q4. In an experiment, the group that did not receive a treatment is called what?

• Treatment group
• Null group
• Other
• Control group

Q5. A hypothesis is a proposed explanation for an observation. True or False?

• True
• False

Graded Quiz: Evaluating Advertising Effectiveness

Q1. SMART Goals are:

• Simple, Meaningful, Accurate, Relevant, Targeted
• Systematic, Marketing And Realty, Time-Lines
• Specific, Measurable, Achievable, Realistic, Time Bound
• Small, Manageable, Accurate, Real, Terrific

Q2. KPIs can help because they are specific metrics that can be used to measure progress. True or False?

• False
• True

Q3. What are two methods for evaluating ad effectiveness?

• SMART Goal setting and Experimental methods
• KPI evaluation and SMART Goal setting
• Experimental and Observational Methods
• Observational methods and KPI setting

Q4. If you are running an ad with a “click to subscribe” button, can you measure the effectiveness of the ad ONLY by counting the number of customers who subscribed by clicking the button?

• Yes
• No

Q5. What do results of an experiment include? (Select all that apply)

• Report output
• Measure of confidence in the results
• A winner
• Number of incremental results caused by your treatment

Q6. Using ITT (Intention to Treat) in an experiment to measure the incremental impact of your campaign would not change the results. True or False?

• True
• False

Q7. Randomization is the process of assigning people to groups based on a common trait that is selected at random. True or False?

• True
• False

Q8. In an experiment, the group that did not receive a treatment is called what?

• Null group
• Treatment group
• Control group
• Other

Q9. AB Testing does not use a control group. True or False?

• False
• True

Q10. Which of the following are types of test structures? (Select all that apply)

• Multi-Cell
• Nested Cell
• Structured Cell
• Single Cell

Data Analytics Methods for Marketing Week 04 Quiz Answers

Practice Quiz: Marketing Mix Modeling

Q1. Your manager is asking you to put a report together that shows how much incremental sales was generated by the TV campaign you ran last quarter and she also wants to know how that compares to the money that you invested in ads on Facebook during that same time. Which would be the best metric to highlight in your report:

• Cost per Acquisition
• Return on Investment (ROI)
• Customer Lifetime Value

Q2. Which of the following are typical outputs of a MMM?

• Marginal return associated with each marketing channel.
• An overview of which of my TV ad creatives worked best in the past year.
• An overview of how my spending in different marketing channels contributed to success.
• A report that provides detail on how much influence each of your marketing activities had on sales.

Q3. For which of the following questions could a marketer use a Marketing Mix Model to get the answer:

• What would the influence be on sales if I doubled the budget I spend on Instagram Stories next year?
• What was the ROI of my fall TV campaign I ran last year?
• What would happen to sales if we increase the price of our product?
• Which ad creative performed best in my holiday ad campaign on Facebook?

Q4. Marketing Mix Modeling is an interaction between a team of modelers and an econometric model. What is the role of the team of modelers?

• Advise marketers on how to effectively create ads to build successful campaigns
• Acquire data for a set number of variables that they know always influence sales in a similar way
• Come up with a set of variables that may affect sales and iterate on these variables until a robust model is achieved for the particular company in question and the KPI they are trying to model

Q5. Imagine you are working in the marketing department of a restaurant chain and your manager asks you to provide management with a monthly report that provides an update on the effect of each of the media channels used by your company on sales volume. What would be your best response?

• I can provide you with an estimate of the ROI for every media channel based on our monthly spending. And, every 6 months, I will include an update on the actual effect the different channels had on our sales.
• Of course, I will re-run our MMM monthly so we can include the results in the report.

Practice Quiz: Attribution

Q1. Which of the following business questions can you answer with an Attribution study? (Choose all that apply)

• How much of my revenue was influenced by the Instagram campaign I ran in Q4?
• Which of my creative executions in my video campaign works best to make people buy my product, the video filmed outside or the video filmed in a studio?
• Which of my advertising campaigns last year drove most of my sales?
• What media channel should I invest more money in next year?

Q2. Which rule-based attribution model is best described by the following definition?

Gives 100% credit to the last click seen from a person before a conversion took place, even if an impression (ad view) was the last interaction.

• Last Touch
• First Touch
• Time Decay
• Last Click

Q3. Which rule-based attribution model is best described by the following definition?

Gives more credit to touchpoints (clicks or impressions) based on how recently they happened. This attribution model gives an increasing percentage of the credit for a conversion to touchpoints as they get closer in time to the conversion.

• Positional
• Even Credit
• First Click
• Time Decay

Q4. Which rule-based attribution model is best described by the following definition?

Gives 100% credit for a conversion that happened to the first click or visit that happened in the conversion path. If there is no click or visit, then it will credit the conversion to the first impression.

• First Touch
• Last Touch
• First Click
• Positional

Q5. Which rule-based attribution model is best described by the following definition?

First and last touchpoints (clicks or impressions) are given more credit, while the credit for the remaining touchpoints in the middle is divided equally.

• Even Credit
• Time Decay
• Positional
• First Touch

Practice Quiz: Sales Funnel Analysis

Q1. What is this funnel shape called?

• A classic funnel
• A footed funnel
• A blocker funnel
• A reverse funnel

Q2. If you see the shape below and you’re in B2C marketing, what is the most likely thing you want to investigate?

• Your website
• Your pricing strategy
• Your check out flow
• Your attribution model

Q3. What is one question you’ll want to ask yourself at the interest and consideration stages of the sales funnel?

• What page are people entering our website on?
• How long are people spending on their first page?
• What are people searching for on my site? Is it a specific item or category?
• What is the repurchase rate for returning users? 

Q4. “Where do users drop off in the purchase process?” is a question you’d ask yourself in the _____ stage of the sales funnel.

• Interest
• Consideration
• Awareness
• Conversion

Graded Quiz: Optimization

Q1. Imagine you work in the marketing department of a large clothing retailer. You are working on a ‘year in review’ presentation and you would like to show how your advertising on different platforms (TV, radio, Facebook and Youtube) contributed to sales for the denim line you introduced this year.

You reach out to a market research agency to help you with this. What type of study should they do for you?

• They should run a Brand Survey Test
• They should run an A/B test
• They should conduct a Holdout Test
• They should run a marketing mix modeling study

Q2. A marketing mix model can only help you understand the impact of organic engagement on your sales. True or False?

• True
• False

Q3. Which of the following is correct about a time decay attribution model?

• It gives all the credit for a conversion to the last ad a user clicked on before converting.
• It gives credit to touchpoints (clicks or impressions) based on how recently they happened.
• It evenly spreads the credit for a conversion across all the ads a consumer clicked on before finally converting.
• It gives all the credit to the last ad a user saw or clicked on before converting.

Q4. True or false? Attribution is mostly used to evaluate the impact of online media channels on a purchase.

• True
• False

Q5. Why may advertisers want to use attribution modeling studies?

• Attribution studies help to test different variables of an ad and understand which variables work best and drive the best results
• Attribution modeling can help advertisers understand how much influence their ads on different platforms had on their result
• Attribution modeling can help advertisers understand the effect of their ads on ad recall
• Attribution modeling helps advertisers evaluate the incremental lift in sales caused by each of their ads.

Q6. Marketing Mix Modeling helps with in-channel optimization. True or False?

• True
• False

Q7. What is the last step of the Marketing Mix Modeling methodology?

• Identify the variables affecting your outcome
• Modeling
• Data Collection
• Align variable types

Q8. Which of the following statements is true about connecting touchpoints to one individual person? (Select all that apply)

• Facebook Pixel, the SDK and the conversions API allow you to tie actions directly to real people due to Facebook’s ability to track persistent login and a unique identifier associated with a person’s Facebook account.
• Historically, advertisers have relied on cookies to connect a sequence of touchpoints to a person.
• It’s challenging for advertisers to connect the data from a person’s interactions with ads on mobile devices with that same person’s interactions on computers.
• Once a cookie is set in a user’s browser, it will be there forever and you can use that to monitor all the person’s actions on your site.

Q9. What are the four stages of most sales funnels?

• Awareness, Interest, Conversion, Retention
• Curiosity, Interest, Conversion, Retention
• Awareness, Curiosity, Exploration, Conversion
• Awareness, Interest, Exploration, Conversion

Q10. When you encounter a block in your funnel, which of the following approaches should you use to try to fix it?

• Check out the flow
• Change the product being sold
• Blame the customer
• Spend more on ads

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