Question 1

CRM is the business version of:

Accepted Answer

A) the Ten Commandments. 
B) the Bill of Rights. 
C) the Golden Rule. 
D) Maslow's Hierarchy of Needs. 
A) the Ten Commandments. 
B) the Bill of Rights. 
C) the Golden Rule. 
D) Maslow's Hierarchy of Needs.

Question 2

Economic benefits associated with maintaining relationships with current customers include:

Accepted Answer

A) Small increases in customer retention can translate into large increases in profits. 
B) Existing customers spend less money than new customers. 
C) Order processing costs are higher for current customers. 
D) All of these. 
A) Small increases in customer retention can translate into large increases in profits. 
B) Existing customers spend less money than new customers. 
C) Order processing costs are higher for current customers. 
D) All of these.

Question 3

Attending a prayer breakfast is most likely an attempt to satisfy which category of need?

Accepted Answer

A) Physiological 
B) Psychological 
C) Spiritual 
D) Social 
A) Physiological 
B) Psychological 
C) Spiritual 
D) Social

Question 4

Attitudes are forces that organise and give direction to the tension caused by unsatisfied needs.

Accepted Answer

A) True 
 B)False

Question 5

Marketers create needs that offer unique motivations to consumers.

Accepted Answer

A) True 
 B)False

Question 6

Diane is a loyal, long-term customer at Burke's Furniture Store.It would be expected that she would:

Accepted Answer

A) be willing to pay more for Burke's Furniture's products. 
B) have higher order-processing costs since she purchases so much. 
C) potentially spend less as she purchases more products over time. 
D) All of the above. 
A) be willing to pay more for Burke's Furniture's products. 
B) have higher order-processing costs since she purchases so much. 
C) potentially spend less as she purchases more products over time. 
D) All of the above.

Question 7

Match the term with its definition.
a.80/20 Principle
b.Customer database
c.Customer segmentation strategy
d.Evaluative criteria
e.Evoked set
f.Perception
g.Perceptual categorisation
h.Post-purchase dissonance
i.Touch point
j.Transactional relationship
-The psychological tension or anxiety that occurs when a customer has second thoughts immediately following a purchase.

Accepted Answer

The answer of Match the term with its definition.
a.80/20 Principle
b.Customer...

Question 8

A basic idea forming the foundation of customer loyalty for small businesses includes the notion that:

Accepted Answer

A) superior customer service always leads to customer purchases. 
B) customer loyalty will mean constant customer satisfaction. 
C) small businesses possess great potential for providing superior customer service. 
D) customer satisfaction is being ignored by large businesses. 
A) superior customer service always leads to customer purchases. 
B) customer loyalty will mean constant customer satisfaction. 
C) small businesses possess great potential for providing superior customer service. 
D) customer satisfaction is being ignored by large businesses.

Question 9

An investigation of culture with a narrow definitional boundary (e.g.by age, geographic location, etc.) is called perceptual categorisation.

Accepted Answer

A) True 
 B)False

Question 10

Match the term with its definition.
a.Attitude
b.Culture
c.Customer experience management
d.Customer lifetime value
e.Customer relationship management
f.Motivations
g.Needs
h.Opinion leader
i.Perception
j.Perceptual categorisation
k.Reference group
l.Social classes
-Divisions within a society having different levels of social prestige.

Accepted Answer

The answer of Match the term with its definition.
a.Attitude
b.Culture
c.Customer experience...

Question 11

Aspiring mystery writers study Agatha Christie to learn the art of writing that genre.In this case, Christie would be considered:

Accepted Answer

A) how a subcultural analysis impacts marketing efforts. 
B) an opinion leader with which businesses want to affiliate. 
C) a reference group for mystery writers 
D) a social class because of her lifestyle choices. 
A) how a subcultural analysis impacts marketing efforts. 
B) an opinion leader with which businesses want to affiliate. 
C) a reference group for mystery writers 
D) a social class because of her lifestyle choices.

Question 12

Match the term with its definition.
a.Attitude
b.Culture
c.Customer experience management
d.Customer lifetime value
e.Customer relationship management
f.Motivations
g.Needs
h.Opinion leader
i.Perception
j.Perceptual categorisation
k.Reference group
l.Social classes
-An enduring opinion based on a combination of knowledge, feeling and behavioural tendencies.

Accepted Answer

The answer of Match the term with its definition.
a.Attitude
b.Culture
c.Customer experience...

Question 13

What should entrepreneurs understand about sociological influences on customers?

Accepted Answer

Culture refers to the behavioural patter

Question 14

Bob never purchases bottled water when he is thirsty even if it is available.This behaviour indicates that bottled water

Accepted Answer

A) does not meet Bob's evaluative criteria. 
B) increases Bob's cognitive dissonance. 
C) is not included in Bob's evoked set. 
D) decreases Bob's perceptual categorisation. 
A) does not meet Bob's evaluative criteria. 
B) increases Bob's cognitive dissonance. 
C) is not included in Bob's evoked set. 
D) decreases Bob's perceptual categorisation.

Question 15

Educational level is the most single determinant of social class.

Accepted Answer

A) True 
 B)False

Question 16

In some situaitons, a small business owner will have to influence need recognition; in others she may simply be able to react to needs the consumer has identified.

Accepted Answer

A) True 
 B)False

Question 17

Which consumer option for dealing with product or service dissatisfaction is the only one that is desirable to a business?

Accepted Answer

A) Complaint on social media. 
B) Warn friends about a product. 
C) Take no action. 
D) Privately seek redress from business. 
A) Complaint on social media. 
B) Warn friends about a product. 
C) Take no action. 
D) Privately seek redress from business.

Question 18

A consumer's recognition of a problem can be characterised as routine if the problem evolves over time.

Accepted Answer

A) True 
 B)False

Question 19

To establish an effective customer service programme, what should be completed first?

Accepted Answer

A) Customer service quotient. 
B) Mystery shopper visit. 
C) Survey on customer attitudes. 
D) Jezek's Zone analysis. 
A) Customer service quotient. 
B) Mystery shopper visit. 
C) Survey on customer attitudes. 
D) Jezek's Zone analysis.

Question 20

Freida used a discount coupon to purchase a new product.In which category of the customer profile should this be recorded?

Accepted Answer

A) Personal Information 
B) Lifestyle data 
C) Profile of past responses 
D) Transaction data 
A) Personal Information 
B) Lifestyle data 
C) Profile of past responses 
D) Transaction data

CRM is the business version of:

Economic benefits associated with maintaining relationships with current customers include:

Attending a prayer breakfast is most likely an attempt to satisfy which category of need?

Attitudes are forces that organise and give direction to the tension caused by unsatisfied needs.

Marketers create needs that offer unique motivations to consumers.

Diane is a loyal, long-term customer at Burke's Furniture Store.It would be expected that she would:

A basic idea forming the foundation of customer loyalty for small businesses includes the notion that:

An investigation of culture with a narrow definitional boundary (e.g.by age, geographic location, etc.) is called perceptual categorisation.

Aspiring mystery writers study Agatha Christie to learn the art of writing that genre.In this case, Christie would be considered:

What should entrepreneurs understand about sociological influences on customers?

Bob never purchases bottled water when he is thirsty even if it is available.This behaviour indicates that bottled water

Educational level is the most single determinant of social class.

In some situaitons, a small business owner will have to influence need recognition; in others she may simply be able to react to needs the consumer has identified.

Which consumer option for dealing with product or service dissatisfaction is the only one that is desirable to a business?

A consumer's recognition of a problem can be characterised as routine if the problem evolves over time.

To establish an effective customer service programme, what should be completed first?

Freida used a discount coupon to purchase a new product.In which category of the customer profile should this be recorded?

The Entrepreneurial Life

Integrity, Ethics And, Social Entrepreneurship

Starting a Small Business

Franchising and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Product and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing Operations

Managing the Firms Assets

Managing Risk in the Small Business

Filters

Exam 14: Building Customer Relationships

CRM is the business version of:

Economic benefits associated with maintaining relationships with current customers include:

Attending a prayer breakfast is most likely an attempt to satisfy which category of need?

Attitudes are forces that organise and give direction to the tension caused by unsatisfied needs.

Marketers create needs that offer unique motivations to consumers.

Diane is a loyal, long-term customer at Burke's Furniture Store.It would be expected that she would:

A basic idea forming the foundation of customer loyalty for small businesses includes the notion that:

An investigation of culture with a narrow definitional boundary (e.g.by age, geographic location, etc.) is called perceptual categorisation.

Aspiring mystery writers study Agatha Christie to learn the art of writing that genre.In this case, Christie would be considered:

What should entrepreneurs understand about sociological influences on customers?

Bob never purchases bottled water when he is thirsty even if it is available.This behaviour indicates that bottled water

Educational level is the most single determinant of social class.

In some situaitons, a small business owner will have to influence need recognition; in others she may simply be able to react to needs the consumer has identified.

Which consumer option for dealing with product or service dissatisfaction is the only one that is desirable to a business?

A consumer's recognition of a problem can be characterised as routine if the problem evolves over time.

To establish an effective customer service programme, what should be completed first?

Freida used a discount coupon to purchase a new product.In which category of the customer profile should this be recorded?

The Entrepreneurial Life

Integrity, Ethics And, Social Entrepreneurship

Starting a Small Business

Franchising and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Product and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing Operations

Managing the Firms Assets

Managing Risk in the Small Business

Filters