Question 1

CRM technology can help motivate employees by ________.

Accepted Answer

A)  analyzing customer revenue and cost data to identify current and future high-value customers 
B)  better targeting the company's direct marketing efforts 
C)  tracking customer-service satisfaction levels 
D)  aligning employee incentives and metrics 
E)  developing new pricing models 
A)  analyzing customer revenue and cost data to identify current and future high-value customers 
B)  better targeting the company's direct marketing efforts 
C)  tracking customer-service satisfaction levels 
D)  aligning employee incentives and metrics 
E)  developing new pricing models D

Question 2

Using European automobile giant Volvo as your illustration,create a value proposition for the company.

Accepted Answer

Students may have several answers; however,any value proposition must be built on their stated positioning objective of "safety." Other benefits that might be worked into a value proposition could be a long-lasting car,good service,and a long warranty period.Basically,the value proposition is a statement about the total experience customers will gain from the company's market offering and from their relationship with the supplier.

Question 3

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

Accepted Answer

A)  Competitors can often hack into CRM systems. 
B)  Building and maintaining a customer database requires a large investment. 
C)  It is very difficult to find and train database employees. 
D)  Long-term results of such systems are still unproven. 
E)  Focusing too much on databases separates a company from its customers. 
A)  Competitors can often hack into CRM systems. 
B)  Building and maintaining a customer database requires a large investment. 
C)  It is very difficult to find and train database employees. 
D)  Long-term results of such systems are still unproven. 
E)  Focusing too much on databases separates a company from its customers. B

Question 4

In the modern customer-oriented organizational chart,which of the following is considered to be at the top of the organizational pyramid

Accepted Answer

A)  Sales 
B)  The president 
C)  Front-line people 
D)  Customers 
E)  Middle management 
A)  Sales 
B)  The president 
C)  Front-line people 
D)  Customers 
E)  Middle management

Question 5

What are the four classifications (tiers)of customers in customer profitability analysis using activity-based costing

Accepted Answer

The tiers would be platinum cu

Question 6

Marketers from which of the following are most likely to use database marketing

Accepted Answer

A)  An airline 
B)  A candy bar manufacturer 
C)  A grand piano maker 
D)  A toothpaste manufacturer 
E)  None of the above would use database marketing. 
A)  An airline 
B)  A candy bar manufacturer 
C)  A grand piano maker 
D)  A toothpaste manufacturer 
E)  None of the above would use database marketing.

Question 7

The least profitable 10% to 20% of customers can reduce profits by 50% to 200% per account.

Accepted Answer

A) True 
 B)False

Question 8

Buyers form expectations in all of the following ways EXCEPT ________.

Accepted Answer

A)  from past buying experience 
B)  from friends' and associates' advice 
C)  from marketers' information 
D)  from competitors' information 
E)  from inherited traits 
A)  from past buying experience 
B)  from friends' and associates' advice 
C)  from marketers' information 
D)  from competitors' information 
E)  from inherited traits

Question 9

Using his company's ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.

Accepted Answer

A)  data warehouse 
B)  call back list 
C)  call rejection list 
D)  corporate database 
E)  Better Business Bureau contacts 
A)  data warehouse 
B)  call back list 
C)  call rejection list 
D)  corporate database 
E)  Better Business Bureau contacts

Question 10

Marketers have found that pricing plays the most essential role in defining and delivering high-quality goods and services to target customers.

Accepted Answer

A) True 
 B)False

Question 11

Another term for high customer ________ is customer churn.

Accepted Answer

A)  retention 
B)  defection 
C)  value 
D)  perception 
E)  belief 
A)  retention 
B)  defection 
C)  value 
D)  perception 
E)  belief

Question 12

Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing.What are those four steps

Accepted Answer

The four steps are: (1)Identify your pro

Question 13

Conformance quality and performance quality is essentially the same thing in a marketing sense.

Accepted Answer

A) True 
 B)False

Question 14

Consumers' expectations result exclusively from past buying experiences.

Accepted Answer

A) True 
 B)False

Question 15

Two products with very different performance qualities can have the same conformance quality if both products deliver their respective promised quality.

Accepted Answer

A) True 
 B)False

Question 16

Total customer benefit is the perceived monetary value of the bundle of economic,functional,and ________ benefits customers expect from a given market offering.

Accepted Answer

A)  psychological 
B)  intangible 
C)  realized 
D)  fabricated 
E)  advertised 
A)  psychological 
B)  intangible 
C)  realized 
D)  fabricated 
E)  advertised

Question 17

It's often easier to reattract ex-customers (because the company knows their names and histories)than to find new ones.

Accepted Answer

A) True 
 B)False

Question 18

All of the following are examples of the perils of CRM EXCEPT ________.

Accepted Answer

A)  implementing CRM before creating a customer strategy 
B)  the enormous cost that might eventually drain significant profits from the organization 
C)  rolling out CRM before changing the organization to match 
D)  assuming more CRM technology is better 
E)  stalking, not wooing, customers 
A)  implementing CRM before creating a customer strategy 
B)  the enormous cost that might eventually drain significant profits from the organization 
C)  rolling out CRM before changing the organization to match 
D)  assuming more CRM technology is better 
E)  stalking, not wooing, customers

Question 19

The midsize customers for most organizations receive good service,pay nearly full price for the products and services they purchase,and are often the most profitable.

Accepted Answer

A) True 
 B)False

Question 20

________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

Accepted Answer

A)  Perceived usefulness 
B)  Failure avoidance rate 
C)  Report rating 
D)  Customer-perceived value 
E)  Competitors' market share rate 
A)  Perceived usefulness 
B)  Failure avoidance rate 
C)  Report rating 
D)  Customer-perceived value 
E)  Competitors' market share rate

Exam 5: Creating Customer Value, Satisfaction, and Loyalty

CRM technology can help motivate employees by ________.

Using European automobile giant Volvo as your illustration,create a value proposition for the company.

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

In the modern customer-oriented organizational chart,which of the following is considered to be at the top of the organizational pyramid

What are the four classifications (tiers)of customers in customer profitability analysis using activity-based costing

Marketers from which of the following are most likely to use database marketing

The least profitable 10% to 20% of customers can reduce profits by 50% to 200% per account.

Buyers form expectations in all of the following ways EXCEPT ________.

Using his company's ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.

Marketers have found that pricing plays the most essential role in defining and delivering high-quality goods and services to target customers.

Another term for high customer ________ is customer churn.

Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing.What are those four steps

Conformance quality and performance quality is essentially the same thing in a marketing sense.

Consumers' expectations result exclusively from past buying experiences.

Two products with very different performance qualities can have the same conformance quality if both products deliver their respective promised quality.

Total customer benefit is the perceived monetary value of the bundle of economic,functional,and ________ benefits customers expect from a given market offering.

It's often easier to reattract ex-customers (because the company knows their names and histories)than to find new ones.

All of the following are examples of the perils of CRM EXCEPT ________.

The midsize customers for most organizations receive good service,pay nearly full price for the products and services they purchase,and are often the most profitable.

________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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