Question 1

CRM concerns many Americans because:

Accepted Answer

A) of the large number of people who must be served. 
B) not all customers have access to CRM marketing. 
C) of the potential for invasion of privacy. 
D) of the aggressive nature of marketers that use CRM. 
E) of the expense to consumers. 
A) of the large number of people who must be served. 
B) not all customers have access to CRM marketing. 
C) of the potential for invasion of privacy. 
D) of the aggressive nature of marketers that use CRM. 
E) of the expense to consumers.

Question 2

Knowing that customers who sort by highest rating on the Petco Web site stay longer,spend more,and return less is probably a result of applying

Accepted Answer

A) compiled lists. 
B) recency-frequency-monetary analysis. 
C) lifetime value analysis. 
D) campaign management. 
A) compiled lists. 
B) recency-frequency-monetary analysis. 
C) lifetime value analysis. 
D) campaign management.

Question 3

Best Buy's Performance Service Plan (PSP)guarantees products against damage and malfunctioning.All initial purchase contact information is kept in the customer database,along with copies of the PSP.If a customer calls Best Buy with a problem,the representative will have access to all this information and can either help the customer or refer him or her to another representative.The availability of this customer information tends to:

Accepted Answer

A) reduce customer calls. 
B) empower employees. 
C) encourage referrals to other employees. 
D) hurt employee morale. 
E) increase the need for management supervision. 
A) reduce customer calls. 
B) empower employees. 
C) encourage referrals to other employees. 
D) hurt employee morale. 
E) increase the need for management supervision.

Question 4

Petco edits some of the reviewer posts in order to quell negative comments.

Accepted Answer

A) True 
 B)False

Question 5

After Ruth and Mike had paid in advance for their week's stay at a Vermont Inn,Ruth felt that they might have chosen poorly and that they were committing themselves to stay at a place they might hate.Then Ruth got a letter from the Inn's owner stating that she was looking forward to their visit and asking what they most enjoyed for breakfast.The hospitality of the letter dealt with Ruth's cognitive dissonance by:

Accepted Answer

A) cross-selling. 
B) disintermediation. 
C) spamming and flaming. 
D) implementing a penetration strategy. 
E) reinforcing her purchase decision. 
A) cross-selling. 
B) disintermediation. 
C) spamming and flaming. 
D) implementing a penetration strategy. 
E) reinforcing her purchase decision.

Question 6

Customer-centric is an internal management philosophy similar to:

Accepted Answer

A) utilitarianism. 
B) Herzberg's theory of motivation. 
C) the equity theory. 
D) the marketing concept. 
E) consumerism. 
A) utilitarianism. 
B) Herzberg's theory of motivation. 
C) the equity theory. 
D) the marketing concept. 
E) consumerism.

Question 7

Which technique was likely used to suggest that a customer who wanted to buy a $29 shirt would also be a likely prospect for a cigar humidor?

Accepted Answer

A) Predictive modeling 
B) Customer segmentation 
C) Market aggregation 
D) Recency-frequency-monetary analysis 
E) Data interpolation 
A) Predictive modeling 
B) Customer segmentation 
C) Market aggregation 
D) Recency-frequency-monetary analysis 
E) Data interpolation

Question 8

Through customer segmentation,marketers use some past set of occurrences in order to determine what the odds are that certain other occurrences-such as a response or purchase-will take place in the future.

Accepted Answer

A) True 
 B)False

Question 9

Compare and contrast a database and a data warehouse.

Accepted Answer

Both are collections of data.A DATABASE

Question 10

Sony wants to build long-lasting relationships by focusing on what satisfies and retains their customers.For example,Sony's PlayStation Web site is designed to create a community of users who can join PlayStation Underground where they will "feel like they belong to a subculture of intense gamers." Sony evidently:

Accepted Answer

A) is sales oriented. 
B) has a standardization focus. 
C) is ethnocentric. 
D) has a customer-centric focus. 
E) is product oriented. 
A) is sales oriented. 
B) has a standardization focus. 
C) is ethnocentric. 
D) has a customer-centric focus. 
E) is product oriented.

Question 11

_____ is the process of breaking large groups of customers into smaller,more homogeneous groups.

Accepted Answer

A) Customer segmentation 
B) Recency-frequency-monetary analysis 
C) Data mining 
D) Customer valuation 
E) Relationship marketing 
A) Customer segmentation 
B) Recency-frequency-monetary analysis 
C) Data mining 
D) Customer valuation 
E) Relationship marketing

CRM concerns many Americans because:

Knowing that customers who sort by highest rating on the Petco Web site stay longer,spend more,and return less is probably a result of applying

Petco edits some of the reviewer posts in order to quell negative comments.

Customer-centric is an internal management philosophy similar to:

Which technique was likely used to suggest that a customer who wanted to buy a $29 shirt would also be a likely prospect for a cigar humidor?

Through customer segmentation,marketers use some past set of occurrences in order to determine what the odds are that certain other occurrences-such as a response or purchase-will take place in the future.

Compare and contrast a database and a data warehouse.

_____ is the process of breaking large groups of customers into smaller,more homogeneous groups.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Integrated Marketing Communications

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Social Media and Marketing

Filters

Exam 21: Customer Relationship Management Crm

CRM concerns many Americans because:

Knowing that customers who sort by highest rating on the Petco Web site stay longer,spend more,and return less is probably a result of applying

Petco edits some of the reviewer posts in order to quell negative comments.

Customer-centric is an internal management philosophy similar to:

Which technique was likely used to suggest that a customer who wanted to buy a $29 shirt would also be a likely prospect for a cigar humidor?

Through customer segmentation,marketers use some past set of occurrences in order to determine what the odds are that certain other occurrences-such as a response or purchase-will take place in the future.

Compare and contrast a database and a data warehouse.

_____ is the process of breaking large groups of customers into smaller,more homogeneous groups.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Integrated Marketing Communications

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Social Media and Marketing

Filters