Exam 5: Creating Long term Loyalty Relationships

Sara is the marketing manager of a small HR consultancy firm. She is in the process of implementing the use of a database to assist her company in its marketing efforts. List five ways in which she might be able to use the database for marketing efforts.

________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

Unprofitable customers who defect to a competitor should be encouraged to do so.

Which of the following is true for the modern company organization chart?

Most companies measure customer satisfaction and individual customer profitability.

Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to ________.

3M makes it easy for dialog to occur with its customers. 3M claims that over two-thirds of its product improvement ideas come from listening to

In proactive marketing the salesperson simply sells the product.

Managers who believe the customer is the company's only true "profit centre" consider the traditional organization chart to be obsolete.

Which of the following is considered to be one of the five problems that can deter a firm from using CRM (customer relationship marketing)?

One large construction company has paid $19,000 for a Caterpillar tractor, yet when the company calculates the bundle of economic, functional, and psychological benefits of the tractor, they arrive at a figure much higher. The construction company's assessment is seen as the

The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the

Explain how online retailers such as Zazzle and CafePress has been employing the concept of mass customization.

If a company increases customer satisfaction by lowering its price or increasing its services, the result may be

The best survey method to measure customer satisfaction directly is

A good illustration of a personal touch in the hotel business would be if the hotel employees (e.g., registration, maid service, et cetera) call a guest by his or her name.

A customer touch point is the time when the customer makes a purchase.

A ________ is simply a set of names, addresses, and telephone numbers.

Any occasion on which a customer encounters the brand and product, such as a hotel chain's reservation system, business services, and restaurants, is considered a customer

Customer perceived value (CPV) is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives