Marketing Research & Analytics Flashcards
7 cards from real AMA practice questions. Tap to flip, then mark Knew It or Still Learning โ missed cards come back until you master them.
Read the first 7 Marketing Research & Analytics flashcards as text
A/B testing in digital marketing is primarily used to:
Answer: Compare two versions of content to determine which performs better
A/B testing (split testing) exposes different audience segments to two versions of a variable and measures which produces better outcomes.
Which metric measures the total revenue a business can expect from a single customer over the entire relationship?
Answer: Customer lifetime value (CLV)
Customer lifetime value (CLV) projects the total net profit attributed to the entire future relationship with a customer.
In focus group research, what is the moderator's primary responsibility?
Answer: Guiding group discussion while avoiding bias and ensuring all voices are heard
The moderator facilitates focus group discussions to elicit rich insights while maintaining neutrality and encouraging balanced participation.
What is 'data triangulation' in marketing research?
Answer: Combining multiple data sources or methods to validate research findings
Data triangulation uses multiple sources, methods, or researchers to cross-validate findings, increasing credibility and reducing bias.
Which statistical test is most appropriate for comparing the means of three or more independent groups?
Answer: ANOVA (Analysis of Variance)
ANOVA is designed to compare means across three or more groups simultaneously, testing whether at least one group mean is statistically different.
A retailer notices that customers who buy diapers also frequently buy beer on Friday evenings. This insight is an example of:
Answer: Market basket analysis / association rules
Market basket analysis uses association rules to discover products frequently purchased together, enabling cross-selling and promotional strategies.
What does 'statistical significance' (p < 0.05) mean in the context of marketing research?
Answer: There is less than a 5% probability the observed result occurred by chance
A p-value below 0.05 means there is less than a 5% chance the observed difference or relationship is due to random variation alone.