Exam 14: Customer Satisfaction and Customer Relationships

Jody wants to launch a CRM program as a tool that her company can use to track spending, and she tells her boss that a CRM program does not need to segment customers into different levels of loyalty nor does it need to reward certain customers.Jody is correct.

Describe what a CRM program is and the types of information used.

The time inputs we need for CLV include

If purchase experiences are judged relative to expectations, it is important to understand the mechanism of expectations.

The marketer has direct and indirect control of third-party rating services.

Social media is slowing and is likely to exert less influence on customer behavior in the future.

Quality and satisfaction are

When calculating the acquisition cost for a new customer, a company can use the amount redeemed on coupons from past customers.

What is the difference between low-involvement purchases and high-involvement purchases? Give an example of each type.