Exam 14: Customer Satisfaction and Customer Relationships

When creating a customer satisfaction survey, questions about demographics should be located at the beginning of the survey.

Computing customer lifetime value (CLV) involves three kinds of components: (1) numbers about money, (2) numbers about time, and (3) a financing finesse.

When can marketing become operational?

__________ cultures are more likely to be satisfied when the quality of reliability and service provider responsiveness are strong.

During a credence purchase, the customer will evaluate the purchase based on personal expertise.

For higher-involvement purchases, the comparison process is typically quite deliberative and conscious.

Chewing Gum Co.is curious about whether or not the comparative evaluation process occurs despite the fact that purchases of its chewing gum products are typically a routine, low involvement, repurchase.In this scenario, the comparative evaluation process is deliberative and conscious.

__________ factors are actions that go above and beyond customer expectations.

Verizon uses the RFM matrix to determine its most valuable customers.Recency is weighted at a 3, frequency is weighted at a 9, and monetary is valued at a 7.Customer A has a score of R=1, F=5, M=6.What is Customer A's RFM score?

In terms of customer dissatisfaction, when things go wrong, research suggests that the primary means to regaining the customer is through an empowered frontline employee.

Chase and Nathan are in charge of tracking customer evaluations for their employer.They are considering which measure to employ to track customer evaluation data.There are many measures that capture customer evaluations.Which of the following is one of the measures?

The money inputs we need for CLV include all of the following EXCEPT

Expectations generated from the marketing mix are usually trusted the most since the information comes from an unbiased source.

The comparison of a purchase to expectations is thought to occur whether the item purchased is comprised primarily of search, experience, or credence characteristics.

As Quentin checks out of a hotel, he recalls the expectations of quality and service he had upon arriving at the hotel and realizes that based on those expectations he is not thrilled with his experience.The type of purchase by Quentin is best described as

Susan visits the office of a local attorney to have a will drawn up.She has never hired an attorney before, but thinks that this particular attorney is doing a good job based on his professional demeanor and fancy office.Susan's hiring of the attorney is best described as a __________ purchase.

Scoring models are traditionally comprised of three factors.Which of the following is NOT one of them?

Both core components and the peripheral, value-added supplemental components contribute to customer satisfaction and dissatisfaction.

Marketers are interested in customer satisfaction, perceptions of quality, customers' intentions to repurchase the same brand or purchase something else from the same provider, and the likelihood that a customer will generate positive word-of-mouth.

Explain the concept of customer lifetime value.