Question 1

Discuss the concepts of a data warehouse and datamining.

Accepted Answer

Data are collected by the company's cont

Question 2

________ can track customer satisfaction directly and ask additional questions to measure repurchase intention and the respondent's likelihood or willingness to recommend the company and brand to others.

Accepted Answer

A)  Mystery shoppers 
B)  Customer loss rates 
C)  Customer focus statements 
D)  Periodic surveys 
E)  Sales summary reports 
A)  Mystery shoppers 
B)  Customer loss rates 
C)  Customer focus statements 
D)  Periodic surveys 
E)  Sales summary reports

Question 3

The ultimate goal of the customer-centred firm is to create high customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 4

Name and explain the three classifications (tires) of customers in customer profitability analysis using Activity-Based Costing. How should a marketer with customers in all three tiers proceed with this information?

Accepted Answer

The tiers would be very profitable,mixed

Question 5

List the stages of marketing funnel in attracting and retaining customers.

Accepted Answer

The stages are:Aware

Question 6

With respect to the CRM Imperative, "you get it" when

Accepted Answer

A)  you eliminate all your strong competitors. 
B)  you have learned how to outsource. 
C)  you have identified your most valuable customers. 
D)  you develop a Web presence. 
E)  you have selected the most beneficial promotion channels. 
A)  you eliminate all your strong competitors. 
B)  you have learned how to outsource. 
C)  you have identified your most valuable customers. 
D)  you develop a Web presence. 
E)  you have selected the most beneficial promotion channels.

Question 7

Marta Beckta is a very successful real estate salesperson. Ms. Beckta contacts her customers from time to time with suggestions about how to improve the value of their homes or about new listings in their neighbourhood. Ms. Beckta is investing is building loyalty through which of the five different levels?

Accepted Answer

Proactive marketing,which occu

Question 8

When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest customer perceived value. A retailer such as Zellers can improve it offerings in three ways. If Zellers improves products, personnel, and image benefits, it will

Accepted Answer

A)  reduce total customer cost. 
B)  reduce product cost. 
C)  increase total customer benefit. 
D)  increase long-term loyalty. 
E)  reduce psychic costs. 
A)  reduce total customer cost. 
B)  reduce product cost. 
C)  increase total customer benefit. 
D)  increase long-term loyalty. 
E)  reduce psychic costs.

Question 9

Whole Foods Market trains their employees to be knowledgeable and friendly in order to

Accepted Answer

A)  increase the longevity of the customer relationship. 
B)  reduce the rate of customer defection. 
C)  make low-profit customers more profitable or terminating them. 
D)  enhance the growth potential of each customer through up-selling. 
E)  focus disproportionate effort on high-value customers. 
A)  increase the longevity of the customer relationship. 
B)  reduce the rate of customer defection. 
C)  make low-profit customers more profitable or terminating them. 
D)  enhance the growth potential of each customer through up-selling. 
E)  focus disproportionate effort on high-value customers.

Question 10

The CRM (customer relationship management) imperative is characterized by five steps or factors. It begins with acquiring the right customer which can involve

Accepted Answer

A)  identifying HR systems to boost employee loyalty. 
B)  spotting what products or services to offer. 
C)  learning how to win customers back. 
D)  researching the best way to delivery your products. 
E)  calculating your share of their wallet. 
A)  identifying HR systems to boost employee loyalty. 
B)  spotting what products or services to offer. 
C)  learning how to win customers back. 
D)  researching the best way to delivery your products. 
E)  calculating your share of their wallet.

Question 11

Compare and contrast the traditional organizational chart for an organization against the modern customer-oriented organization chart.

Accepted Answer

With respect to a written description,st

Question 12

Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called Activity-Based Costing (ABC).

Accepted Answer

A) True 
 B)False

Question 13

In applying a customer's perceived value to a decision, a seller who is at a customer perceived value disadvantage has two alternatives: to increase total customer benefit or

Accepted Answer

A)  offer an extended warranty. 
B)  lose the sale to the competitor. 
C)  advertise more frequently. 
D)  decrease total customer cost. 
E)  increase a cash-back bonus. 
A)  offer an extended warranty. 
B)  lose the sale to the competitor. 
C)  advertise more frequently. 
D)  decrease total customer cost. 
E)  increase a cash-back bonus.

Question 14

According to research done by American Express, the best customers outspend those that are considered to be the best customers by significant margins. Holt Renfrew, an upscale retailer, would likely find their best customers outspend other customers by a ratio of

Accepted Answer

A)  5 to 1. 
B)  13 to 1. 
C)  12 to 1. 
D)  16 to 1. 
E)  4 to 1. 
A)  5 to 1. 
B)  13 to 1. 
C)  12 to 1. 
D)  16 to 1. 
E)  4 to 1.

Question 15

After conducting customer profitability analysis (CPA), Sunquest Vacations would likely decide to curtail any resources and activities directed at ________ customers, those seen as the most unprofitable and undesirable.

Accepted Answer

A)  losing 
B)  loyal 
C)  satisfied 
D)  profitable 
E)  mixed-bag 
A)  losing 
B)  loyal 
C)  satisfied 
D)  profitable 
E)  mixed-bag

Question 16

The average company loses 25 percent of its customers each year.

Accepted Answer

A) True 
 B)False

Question 17

A good description of a permanent capture market would be "once a customer, always a customer."

Accepted Answer

A) True 
 B)False

Question 18

One of the characteristics of mass marketing is using a one-way message in promotions.

Accepted Answer

A) True 
 B)False

Question 19

Describe the concept of competitive advantage. Discuss the differences between competitive advantage and leverageable advantage.

Accepted Answer

Competitive advantage is a company's abi

Question 20

In which of the following cases is building a database worthwhile for the company?

Accepted Answer

A)  where the product is a once-in-a-lifetime purchase 
B)  where the company has a long relationship with its customers 
C)  where customers show little loyalty to a brand 
D)  where the unit sale is very small 
E)  where the cost of gathering the information is high 
A)  where the product is a once-in-a-lifetime purchase 
B)  where the company has a long relationship with its customers 
C)  where customers show little loyalty to a brand 
D)  where the unit sale is very small 
E)  where the cost of gathering the information is high

Exam 5: Creating Long term Loyalty Relationships

Discuss the concepts of a data warehouse and datamining.

________ can track customer satisfaction directly and ask additional questions to measure repurchase intention and the respondent's likelihood or willingness to recommend the company and brand to others.

The ultimate goal of the customer-centred firm is to create high customer satisfaction.

Name and explain the three classifications (tires) of customers in customer profitability analysis using Activity-Based Costing. How should a marketer with customers in all three tiers proceed with this information?

List the stages of marketing funnel in attracting and retaining customers.

With respect to the CRM Imperative, "you get it" when

When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest customer perceived value. A retailer such as Zellers can improve it offerings in three ways. If Zellers improves products, personnel, and image benefits, it will

Whole Foods Market trains their employees to be knowledgeable and friendly in order to

The CRM (customer relationship management) imperative is characterized by five steps or factors. It begins with acquiring the right customer which can involve

Compare and contrast the traditional organizational chart for an organization against the modern customer-oriented organization chart.

Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called Activity-Based Costing (ABC).

In applying a customer's perceived value to a decision, a seller who is at a customer perceived value disadvantage has two alternatives: to increase total customer benefit or

According to research done by American Express, the best customers outspend those that are considered to be the best customers by significant margins. Holt Renfrew, an upscale retailer, would likely find their best customers outspend other customers by a ratio of

After conducting customer profitability analysis (CPA), Sunquest Vacations would likely decide to curtail any resources and activities directed at ________ customers, those seen as the most unprofitable and undesirable.

The average company loses 25 percent of its customers each year.

A good description of a permanent capture market would be "once a customer, always a customer."

One of the characteristics of mass marketing is using a one-way message in promotions.

Describe the concept of competitive advantage. Discuss the differences between competitive advantage and leverageable advantage.

In which of the following cases is building a database worthwhile for the company?

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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