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Business 328: Retail Innovation  /  Business Courses

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Evaluating Retail Innovation Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Which type of analytics can be used to adjust to trends in customer behavior?

Question 2 2. For a new company that is starting out selling women's petite clothing in the spring, which of the following is an example of how its customers may be performing keyword searches to come across the new business?

Question 3 3. Which of the following is NOT an example of a digital marketing metric?

Question 4 4. Gwen wants to determine the customer acquisition cost of a new marketing strategy. If her organization spent $2,500 and gained 5 new customers, what was the cost to acquire each new customer?

Question 5 5. The SMART in SMART goals stands for what?

Page 2

Question 6 6. Performance goals are _____?

Question 7 7. All of the following are reasons that employees benefit from performance goals EXCEPT?

Question 8 8. Understanding and achieving performance goals can achieve all of the following EXCEPT?

Question 9 9. Which of the following is an example of CRM?

Question 10 10. What does the acronym 'CRM' stand for in management and marketing?

Page 3

Question 11 11. Which of the following best describes the purpose of CRM software for companies?

Question 12 12. Explain what winning a new customer means.

Question 13 13. Which method of measuring customer satisfaction is a non-intrusive way?

Question 14 14. What is an example of a face-to-face interaction that is used to measure customer satisfaction?

Question 15 15. Which method of measuring customer satisfaction provides immediate results?

Page 4

Question 16 16. Which is NOT an example of existing business data?

Question 17 17. Your company had sales of $1,000,000, resulting in a gross profit of $85,000. What is its gross margin?

Question 18 18. Your cookware company generated net sales of $5,000,000 last year and had a net operating profit of $250,000. What was your operating margin?

Question 19 19. Your retail business has total assets valued at $12,000,000 and earned $975,000 in net sales during the same time period. What is its return on assets?

Question 20 20. What's the best explanation of a profitability ratio?

Page 5

Question 21 21. Which is a good example of an effective payment metric?

Question 22 22. There is a(n) _____ need for qualified data analysts in the field of digital analytics.

Question 23 23. Which of the following is FALSE regarding big data?

Question 24 24. Which of the following is an example of a metric used in digital analytics?

Question 25 25. You purchased some stock a year ago for $10,000. It's now worth only $9,900. You received $200 in dividends. What is your ROI?

Page 6

Question 26 26. If the ROI formula yields a negative number, what does this mean?

Question 27 27. What does ROI measure?

Question 28 28. You just purchased a house for $100,000 at a local county auction. You spent $50,000 to renovate the house and netted $160,000 after sale expenses. What is your ROI?

Question 29 29. Which of the following statements best describes the concept of marketing analytics?

Question 30 30. Who should performance goals be set by?

Evaluating Retail Innovation Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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