Question 1

ING Direct could be called the fast-food model of consumer banking because it is about as no-frills as it gets.

Accepted Answer

A) True 
 B)False  True

Question 2

Customer satisfaction (based on the ACSI) is highly related to the stock price of individual firms.

Accepted Answer

A) True 
 B)False  True

Question 3

Many service firms put too much emphasis on value without enough consideration of the number of customers they will serve.

Accepted Answer

A) True 
 B)False  False

Question 4

Discuss how Vanguard Group's pricing is set up to reward the right kind of customers.

Accepted Answer

For many of Vanguard's investors, only a

Question 5

Describe the "Iron" customer segment discussed by Zeithaml, Rust, and Lemon.

Accepted Answer

These are the bulk of the cust

Question 6

Discuss the benefits offered by British Airways to its Gold tier members.

Accepted Answer

Gold tier members at British Airways rec

Question 7

The term ____________ has been widely used to describe repeated transactions that form a relationship between the buyer and the supplier.

Accepted Answer

A)  relational services 
B)  relationship renewal 
C)  relationship justification 
D)  relationship management 
E)  relationship marketing 
A)  relational services 
B)  relationship renewal 
C)  relationship justification 
D)  relationship management 
E)  relationship marketing

Question 8

Vanguard Group is very careful about acquiring the right type of customer.

Accepted Answer

A) True 
 B)False

Question 9

Technology is used to do all of the following EXCEPT ____________ in relational marketing.

Accepted Answer

A)  identify and build a database of current and potential customers 
B)  handle discrepancies between order requests 
C)  deliver differentiated messages based on consumers' characteristics and preferences 
D)  track each relationship to monitor the cost of acquiring the consumer and the lifetime value of the resulting purchases 
E)  all of the above are ways technology is used in relational marketing 
A)  identify and build a database of current and potential customers 
B)  handle discrepancies between order requests 
C)  deliver differentiated messages based on consumers' characteristics and preferences 
D)  track each relationship to monitor the cost of acquiring the consumer and the lifetime value of the resulting purchases 
E)  all of the above are ways technology is used in relational marketing

Question 10

Which of the following is one of the types of relational marketing?

Accepted Answer

A)  Database marketing 
B)  Transactional marketing 
C)  Corporate marketing 
D)  B2B marketing 
E)  B2C marketing 
A)  Database marketing 
B)  Transactional marketing 
C)  Corporate marketing 
D)  B2B marketing 
E)  B2C marketing

Question 11

Describe the difference between miles and points on British Airways.

Accepted Answer

Miles refer to distance flown

Question 12

Vanguard's success is measured by which of the following?

Accepted Answer

A)  Low redemption rates 
B)  High redemption rates 
C)  Low customer turnover 
D)  High customer turnover 
E)  Portfolio stability 
A)  Low redemption rates 
B)  High redemption rates 
C)  Low customer turnover 
D)  High customer turnover 
E)  Portfolio stability

Question 13

Why do firms benefit from a price premium with loyal customers?

Accepted Answer

New customers often benefit fr

Question 14

Which of the following is NOT one of the four customer tiers discussed by Zeithaml, Rust, and Lemon?

Accepted Answer

A)  Platinum 
B)  Gold 
C)  Bronze 
D)  Iron 
E)  Lead 
A)  Platinum 
B)  Gold 
C)  Bronze 
D)  Iron 
E)  Lead

Question 15

Which of the following are the three main zones of the satisfaction-loyalty relationship?

Accepted Answer

A)  Direction; institution; affluence 
B)  Defection; indifference; affection 
C)  Detection; elimination; subversion 
D)  Detection; affluence; rejection 
E)  Direction; intention; rejection 
A)  Direction; institution; affluence 
B)  Defection; indifference; affection 
C)  Detection; elimination; subversion 
D)  Detection; affluence; rejection 
E)  Direction; intention; rejection

Question 16

Give an example of a firm discussed in the chapter that successfully built a strategy on serving customer segments that were neglected by established players that didn't perceive them as sufficiently "valuable."

Accepted Answer

Enterprise

Question 17

Discuss how tiering helps a leading U.S. market research agency better understand its customers.

Accepted Answer

This agency uses the four-tier pyramid s

Question 18

Successful customer relationships cannot be built if a firm is selective about the segments they target.

Accepted Answer

A) True 
 B)False

Question 19

Most people can think of dozens of service firms they truly like and where they are committed to going back to.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is NOT one of the strategies for developing loyalty bonds with customers?

Accepted Answer

A)  Deepening the relationship 
B)  Lag-based bonds 
C)  Social bonds 
D)  Customization bonds 
E)  Structural bonds 
A)  Deepening the relationship 
B)  Lag-based bonds 
C)  Social bonds 
D)  Customization bonds 
E)  Structural bonds

ING Direct could be called the fast-food model of consumer banking because it is about as no-frills as it gets.

Customer satisfaction (based on the ACSI) is highly related to the stock price of individual firms.

Many service firms put too much emphasis on value without enough consideration of the number of customers they will serve.

Discuss how Vanguard Group's pricing is set up to reward the right kind of customers.

Describe the "Iron" customer segment discussed by Zeithaml, Rust, and Lemon.

Discuss the benefits offered by British Airways to its Gold tier members.

The term ____________ has been widely used to describe repeated transactions that form a relationship between the buyer and the supplier.

Vanguard Group is very careful about acquiring the right type of customer.

Technology is used to do all of the following EXCEPT ____________ in relational marketing.

Which of the following is one of the types of relational marketing?

Describe the difference between miles and points on British Airways.

Vanguard's success is measured by which of the following?

Why do firms benefit from a price premium with loyal customers?

Which of the following is NOT one of the four customer tiers discussed by Zeithaml, Rust, and Lemon?

Which of the following are the three main zones of the satisfaction-loyalty relationship?

Give an example of a firm discussed in the chapter that successfully built a strategy on serving customer segments that were neglected by established players that didn't perceive them as sufficiently "valuable."

Discuss how tiering helps a leading U.S. market research agency better understand its customers.

Successful customer relationships cannot be built if a firm is selective about the segments they target.

Most people can think of dozens of service firms they truly like and where they are committed to going back to.

Which of the following is NOT one of the strategies for developing loyalty bonds with customers?

New Perspectives on Marketing in the Service Economy

Consumer Behavior in a Services Context

Positioning Services in Competitive Markets

Developing Service Products: Core and Supplementary Elements

Distributing Services Through Physical and Electronic Channels

Setting Prices and Implementing Revenue Management

Promoting Services and Educating Customers

Designing and Managing Service Processes

Balancing Demand and Productive Capacity

Crafting the Service Environment

Managing People for Service Advantage

Complaint Handling and Service Recovery

Improving Service Quality and Productivity

Striving for Service Leadership

Filters

Exam 12: Managing Relationships and Building Loyalty

ING Direct could be called the fast-food model of consumer banking because it is about as no-frills as it gets.

Customer satisfaction (based on the ACSI) is highly related to the stock price of individual firms.

Many service firms put too much emphasis on value without enough consideration of the number of customers they will serve.

Discuss how Vanguard Group's pricing is set up to reward the right kind of customers.

Describe the "Iron" customer segment discussed by Zeithaml, Rust, and Lemon.

Discuss the benefits offered by British Airways to its Gold tier members.

The term ____________ has been widely used to describe repeated transactions that form a relationship between the buyer and the supplier.

Vanguard Group is very careful about acquiring the right type of customer.

Technology is used to do all of the following EXCEPT ____________ in relational marketing.

Which of the following is one of the types of relational marketing?

Describe the difference between miles and points on British Airways.

Vanguard's success is measured by which of the following?

Why do firms benefit from a price premium with loyal customers?

Which of the following is NOT one of the four customer tiers discussed by Zeithaml, Rust, and Lemon?

Which of the following are the three main zones of the satisfaction-loyalty relationship?

Give an example of a firm discussed in the chapter that successfully built a strategy on serving customer segments that were neglected by established players that didn't perceive them as sufficiently "valuable."

Discuss how tiering helps a leading U.S. market research agency better understand its customers.

Successful customer relationships cannot be built if a firm is selective about the segments they target.

Most people can think of dozens of service firms they truly like and where they are committed to going back to.

Which of the following is NOT one of the strategies for developing loyalty bonds with customers?

New Perspectives on Marketing in the Service Economy

Consumer Behavior in a Services Context

Positioning Services in Competitive Markets

Developing Service Products: Core and Supplementary Elements

Distributing Services Through Physical and Electronic Channels

Setting Prices and Implementing Revenue Management

Promoting Services and Educating Customers

Designing and Managing Service Processes

Balancing Demand and Productive Capacity

Crafting the Service Environment

Managing People for Service Advantage

Complaint Handling and Service Recovery

Improving Service Quality and Productivity

Striving for Service Leadership

Filters