Question 1

________ are adept at building customer relationships,not just products;they are skilled in market engineering,not just product engineering.

Accepted Answer

A) Profit-centered companies 
B) Customer-centered companies 
C) Production-centered companies 
D) Sales-centered companies 
E) Promotion-centered companies 
A) Profit-centered companies 
B) Customer-centered companies 
C) Production-centered companies 
D) Sales-centered companies 
E) Promotion-centered companies

Question 2

Phil Langston has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database.In which of the following ways is Mr.Langston most likely using his database?

Accepted Answer

A) To identify prospects 
B) To decide which customers should receive a new sales offer 
C) To deepen customer loyalty 
D) To avoid serious customer mistakes 
E) To beat the competition to a sale 
A) To identify prospects 
B) To decide which customers should receive a new sales offer 
C) To deepen customer loyalty 
D) To avoid serious customer mistakes 
E) To beat the competition to a sale

Question 3

A 5% reduction in the customer defection rate can increase profits by 25% to 85%,depending on the industry.Explain how this is so.

Accepted Answer

Acquiring new customers can cost five ti

Question 4

When companies provide rewards to customers who buy frequently and in substantial amounts,this is referred to as ________.

Accepted Answer

A) benefit programs 
B) frequency programs 
C) satisfaction programs 
D) loyalty programs 
E) quality programs 
A) benefit programs 
B) frequency programs 
C) satisfaction programs 
D) loyalty programs 
E) quality programs

Question 5

Define the term quality.

Accepted Answer

Quality is the totality of fea

Question 6

________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

Accepted Answer

A) Performance 
B) Value 
C) Quality 
D) Customer retention 
E) Customer loyalty 
A) Performance 
B) Value 
C) Quality 
D) Customer retention 
E) Customer loyalty

Question 7

The ultimate goal of the customer-centered firm is to create high customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 8

Harrah's has used effective ________ to almost double its share of customers' gaming budgets by targeting offers to specific customer segments.

Accepted Answer

A) customer relationship management 
B) customer lifetime value 
C) customer profitability analysis 
D) customer satisfaction analysis 
E) customer-value delivery 
A) customer relationship management 
B) customer lifetime value 
C) customer profitability analysis 
D) customer satisfaction analysis 
E) customer-value delivery

Question 9

The bundle of costs customers expect to incur in evaluating,obtaining,using,and disposing of the given market offering is called the ________.

Accepted Answer

A) organizational expense ratio 
B) shopper's fatigue 
C) total customer cost 
D) analysis paralysis 
E) comparison shopping to comparison buying ratio 
A) organizational expense ratio 
B) shopper's fatigue 
C) total customer cost 
D) analysis paralysis 
E) comparison shopping to comparison buying ratio

Question 10

An organized collection of comprehensive information about individual customers or prospects that is current,accessible,and actionable for such marketing purposes as lead generation,lead qualification,sale of a product or service,or maintenance of customer relationships is called ________.

Accepted Answer

A) a customer database 
B) a customer mail list 
C) target market segments 
D) customer segments 
E) relationship markets 
A) a customer database 
B) a customer mail list 
C) target market segments 
D) customer segments 
E) relationship markets

________ are adept at building customer relationships,not just products;they are skilled in market engineering,not just product engineering.

Phil Langston has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database.In which of the following ways is Mr.Langston most likely using his database?

A 5% reduction in the customer defection rate can increase profits by 25% to 85%,depending on the industry.Explain how this is so.

When companies provide rewards to customers who buy frequently and in substantial amounts,this is referred to as ________.

Define the term quality.

________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

The ultimate goal of the customer-centered firm is to create high customer satisfaction.

Harrah's has used effective ________ to almost double its share of customers' gaming budgets by targeting offers to specific customer segments.

The bundle of costs customers expect to incur in evaluating,obtaining,using,and disposing of the given market offering is called the ________.

An organized collection of comprehensive information about individual customers or prospects that is current,accessible,and actionable for such marketing purposes as lead generation,lead qualification,sale of a product or service,or maintenance of customer relationships is called ________.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

Filters

Exam 5: Creating Customer Value, satisfaction, and Loyalty

________ are adept at building customer relationships,not just products;they are skilled in market engineering,not just product engineering.

Phil Langston has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database.In which of the following ways is Mr.Langston most likely using his database?

A 5% reduction in the customer defection rate can increase profits by 25% to 85%,depending on the industry.Explain how this is so.

When companies provide rewards to customers who buy frequently and in substantial amounts,this is referred to as ________.

Define the term quality.

________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

The ultimate goal of the customer-centered firm is to create high customer satisfaction.

Harrah's has used effective ________ to almost double its share of customers' gaming budgets by targeting offers to specific customer segments.

The bundle of costs customers expect to incur in evaluating,obtaining,using,and disposing of the given market offering is called the ________.

An organized collection of comprehensive information about individual customers or prospects that is current,accessible,and actionable for such marketing purposes as lead generation,lead qualification,sale of a product or service,or maintenance of customer relationships is called ________.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

Filters