Exam 5: Creating Customer Value, Satisfaction, and Loyalty

A key driver of shareholder value is the aggregate value of the customer base.

Of customers who register a complaint,________.

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

Savvy companies are capturing information every time a customer comes into contact with any of its departments.As a marketing manager all of the following would be available customer touch points for your consideration EXCEPT ________.

A customer database should contain all of the following EXCEPT ________.

________ is defined as "a deeply held commitment to rebuy or repatronize a preferred product or service in the future despite situational influences and marketing efforts having the potential to cause switching behavior."

Buyers form their expectations from all of the following EXCEPT ________.

A highly satisfied customer generally stays loyal longer,pays less attention to competing brands,and is less sensitive to price.

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

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

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

The case for maximizing long-term customer profitability is captured in the concept of customer lifetime value.How is customer lifetime value calculated

Customer-perceived value is based on two components.What are those components

An organized collection of comprehensive information about individual customers or prospects that is current,accessible,and actionable for such marketing purposes as lead generation,lead qualification,sale of a product or service,or maintenance of customer relationships is called ________.

Companies need to be especially concerned today with their customer satisfaction level.Why

A customer database is simply a listing of a customer's name,address,and phone number for credit reference.

Professional buyers and purchasing agents operate under various constraints and occasionally make choices that give more weight to their personal benefit than to the company's benefit.

How do customers determine their level of satisfaction with a product

A ________ would contain such items as past volumes,prices,profits,buyer,status of current contacts,and an assessment of competitive strengths and weaknesses.

If a company were to focus its marketing efforts on all the experiences the customer will have on the way to obtaining and using the offering,it would be focusing its marketing efforts on the customer's ________.