Question

1. The customer should be the only one to get value out of an exchange in order for it to be considered a success.

   • True
   • False

2. Which source of value was discussed in the lecture?

   • loyalty value
   • information value
   • communication value
   • All of the above.

3. The best marketing happens when everyone walks away feeling like they’ve _________.

   • won
   • lost
   • been encouraged
   • potential

4. ___________ is a behavioral response to a certain cue or stimulus.

   • Behavior
   • Habit
   • Loyalty
   • Market development

5. Which of the following are ways to define Big Data and Information Value

   • The Volume of the data
   • The Velocity of the data
   • Variety of the data
   • All the above

6. Which of the following is the BEST definition of information value?

   • The value you get from the media.
   • You gain information as you use your product.
   • Your customers can provide you with valuable information about themselves if you collect it, pay attention to it, and use it properly.
   • None of the above.

7. One way to Quantitatively assess and measure Communication Value is through:

   • Big Data
   • Net Promoter Score
   • Online Reviews
   • Word of Mouth Marketing

Answer 1

Solution:

Questions are answered in order of their appearance.

1: False
Customer should not be the only to receive the value in any exchange taking place, if all the stakeholders are profitable then it is deemed a successful exchange.

2: All of the above
All the information values were studied.

3: won
When we feel like we've won, that is the situation when we have done the best of our capabilities.

4: Habit
Habit is the reaction to any stimulus or cue we may have.

5: All of the above.
Bif data is defined by volume, variety, and velocity.

6: Your customers can provide you with valuable information about themselves if you collect it, pay attention to it, and use it properly.
This is how information value is defined.

7: Online reviews
We can quantitatively analyze the online reviews and hence the customer's communication with the brand.