Question 1

Identify and explain the importance of five indicators of extraordinary customer service.

Accepted Answer

1. Doing business on a first-name basis.   Small ventures that know their customers by name and greet them as friends establish a bond that is powerful and encourages loyalty. 
2. Keeping in touch. Face-to-face and phone conversations are much more effective than e-mail messages or mass mailings.  Asking for feedback during these interactions is helpful to the business and shows that the entrepreneur is committed to getting customers' approval.  It also confirms that the entrepreneur cares about more than selling. 
3. Finding ways to help.   Helping customers doesn't always lead to an immediate sale but it can be good for business, and at a minimal cost. 
4. Customizing your service to meet customer preferences.   By remembering the customers' personal preferences and adjusting service to meet them, entrepreneurs increase ther value of what they offer. 
5. Addressing problems promptly.   Taking steps to resolve an issue when it arises lets the customer know he is important to the business.

Question 2

To establish an effective customer service program, 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 A

Question 3

Molly has had repeated positive experiences with her local coffee shop.  They suggest new flavors, call her by her first name, and donate to a local charity that Molly supports.  Molly's experiences, as a result, contribute to the firm's CRM _______.

Accepted Answer

A)  organizational culture 
B)  customer cost 
C)  value equation 
D)  customer satisfaction 
A)  organizational culture 
B)  customer cost 
C)  value equation 
D)  customer satisfaction C

Question 4

Aly'an is a country rock band that has a new CD and is gaining a fan base.  The band wants to connect with their fans, increase CD sales and have more shows.  What are tools they could use to drive more people to their website?

Accepted Answer

The list of tools includes blogs, social

Question 5

In the information search and evaluation stage, the firm's principal objective is to gain market awareness.

Accepted Answer

A) True 
 B)False

Question 6

Billy admires firemen.  He wants to dress like them, wear a fireman's hat, and pretend to put out fires.  For Billy, firemen are:

Accepted Answer

A)  a referral group. 
B)  a reference group. 
C)  a perceptual group. 
D)  an associate group. 
A)  a referral group. 
B)  a reference group. 
C)  a perceptual group. 
D)  an associate group.

Question 7

Most customer service problems are identified by

Accepted Answer

A)  personal observation. 
B)  outside consultants. 
C)  customer complaints. 
D)  entries in a suggestion box. 
A)  personal observation. 
B)  outside consultants. 
C)  customer complaints. 
D)  entries in a suggestion box.

Question 8

Initial CRM support efforts should be made using the website because the web developers have the most customer contact.

Accepted Answer

A) True 
 B)False

Question 9

The individual processes  that give meaning to  the stimuli confronting  consumers are

Accepted Answer

A)  a motivation. 
B)  a perception. 
C)  an attitude. 
D)  a cognition. 
A)  a motivation. 
B)  a perception. 
C)  an attitude. 
D)  a cognition.

Question 10

Post-purchase dissonance and consumer complaints are both directly related to customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 11

List the five major economic benefits of maintaining relationships with current customers.

Accepted Answer

1.  Acquisition costs for new customers

Question 12

Regardless of the nature of the business, small firms can gain a competitive edge by providing exceptional customer service.

Accepted Answer

A) True 
 B)False

Question 13

A basic idea forming the foundation of customer loyalty for small firms 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 firms possess great potential for providing superior customer service. 
D)  customer satisfaction is being ignored by large firms. 
A)  superior customer service always leads to customer purchases. 
B)  customer loyalty will mean constant customer satisfaction. 
C)  small firms possess great potential for providing superior customer service. 
D)  customer satisfaction is being ignored by large firms.

Question 14

Consumer needs can be completely satisfied by proper customer relationship management.

Accepted Answer

A) True 
 B)False

Question 15

According to consumer information-processing theory, _____ is the final stage through which consumers progress.

Accepted Answer

A)  cognitive dissonance 
B)  evaluative categorization 
C)  post-purchase evaluation 
D)  purchase decision 
A)  cognitive dissonance 
B)  evaluative categorization 
C)  post-purchase evaluation 
D)  purchase decision

Question 16

In general, opinion leaders are considered to be knowledgeable, visible, and exposed in mass media.

Accepted Answer

A) True 
 B)False

Question 17

The reason that a group of uniformed people walking down the street playing musical instruments is recognized as a band is the result of

Accepted Answer

A)  characteristic profiling. 
B)  evaluative criteria. 
C)  perceptual categorization. 
D)  problem recognition. 
A)  characteristic profiling. 
B)  evaluative criteria. 
C)  perceptual categorization. 
D)  problem recognition.

Question 18

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 19

Nikita's decision to buy her shoes at the same shop that her boss patronizes is the result of which sociological influence?

Accepted Answer

A)  culture 
B)  opinion leaders 
C)  reference groups 
D)  social class 
A)  culture 
B)  opinion leaders 
C)  reference groups 
D)  social class

Question 20

Mandy is shopping for a new car. She is visiting a privately owned lot in her hometown and describes to Jane, the salesperson, that she wants a four-door sedan with high fuel economy and a leather interior. Jane then shows her three cars that she thinks may fit Mandy's preferences. What stage of the decision making process is Mandy in and what should Jane understand about Mandy's search to complete the sale?

Accepted Answer

Mandy is in the information search and e

Exam 14: Building Customer Relationships

Identify and explain the importance of five indicators of extraordinary customer service.

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

Molly has had repeated positive experiences with her local coffee shop. They suggest new flavors, call her by her first name, and donate to a local charity that Molly supports. Molly's experiences, as a result, contribute to the firm's CRM _______.

Aly'an is a country rock band that has a new CD and is gaining a fan base. The band wants to connect with their fans, increase CD sales and have more shows. What are tools they could use to drive more people to their website?

In the information search and evaluation stage, the firm's principal objective is to gain market awareness.

Billy admires firemen. He wants to dress like them, wear a fireman's hat, and pretend to put out fires. For Billy, firemen are:

Most customer service problems are identified by

Initial CRM support efforts should be made using the website because the web developers have the most customer contact.

The individual processes that give meaning to the stimuli confronting consumers are

Post-purchase dissonance and consumer complaints are both directly related to customer satisfaction.

List the five major economic benefits of maintaining relationships with current customers.

Regardless of the nature of the business, small firms can gain a competitive edge by providing exceptional customer service.

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

Consumer needs can be completely satisfied by proper customer relationship management.

According to consumer information-processing theory, _____ is the final stage through which consumers progress.

In general, opinion leaders are considered to be knowledgeable, visible, and exposed in mass media.

The reason that a group of uniformed people walking down the street playing musical instruments is recognized as a band is the result of

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

Nikita's decision to buy her shoes at the same shop that her boss patronizes is the result of which sociological influence?

The Entrepreneurial Life

Integrity Ethics and Social Entrepreneurship

Starting a Small Business

Franchises 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 Firm S Financial Statements

Forecasting Financial Requirements

A Firm S Sources of Financing

Planning for the Harvest

Product Development 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 Small Business Operations

Managing the Firm S Assets

Managing Risk

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