Question 1

Which of the following is the best method of recovering customer goodwill?

Accepted Answer

A)  sending service people to conduct door-to-door surveys 
B)  contacting the complaining customer as quickly as possible 
C)  identifying prospective customers from the customer database 
D)  customizing products according to individual customer need 
E)  defining and measuring the customer retention rate 
A)  sending service people to conduct door-to-door surveys 
B)  contacting the complaining customer as quickly as possible 
C)  identifying prospective customers from the customer database 
D)  customizing products according to individual customer need 
E)  defining and measuring the customer retention rate

Question 2

To exploit the power of social media, marketers need to create tangible value for consumers, which can come from all of the following EXCEPT ________.

Accepted Answer

A)  discounts 
B)  coupons 
C)  information 
D)  solicitations 
E)  special offers 
A)  discounts 
B)  coupons 
C)  information 
D)  solicitations 
E)  special offers

Question 3

Explain total customer satisfaction.

Accepted Answer

In general, satisfaction is a person's f

Question 4

The value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering.

Accepted Answer

A) True 
 B)False

Question 5

According to IBM, what do firms need to do to exploit the power of social media?

Accepted Answer

To successfully exploit the potential of

Question 6

A profitable customer yields a ________.

Accepted Answer

A)  cost stream that exceeds by an acceptable amount his revenue stream 
B)  revenue stream that exceeds the company's cost stream 
C)  cost stream that exceeds the company's revenue stream 
D)  revenue stream that exceeds by an acceptable amount his cost stream 
E)  revenue stream that equals the company's cost stream 
A)  cost stream that exceeds by an acceptable amount his revenue stream 
B)  revenue stream that exceeds the company's cost stream 
C)  cost stream that exceeds the company's revenue stream 
D)  revenue stream that exceeds by an acceptable amount his cost stream 
E)  revenue stream that equals the company's cost stream

Question 7

TBS Bikes has recently introduced a series of bikes called Surami. The core positioning of TBS Bikes is "speed." Surami is a five-gear bike, and apart from speed, the company promises to include other features such as safety, good performance, and pollution control features. This describes the ________ of the bike.

Accepted Answer

A)  total customer cost 
B)  customer-perceived value 
C)  value-delivery system 
D)  value proposition 
E)  total customer benefit 
A)  total customer cost 
B)  customer-perceived value 
C)  value-delivery system 
D)  value proposition 
E)  total customer benefit

Question 8

________ marketing is about making sure the brand and its marketing are as personally relevant as possible to as many customers as possible-a challenge, given that no two customers are identical.

Accepted Answer

A)  Personalizing 
B)  Permission 
C)  Identification 
D)  Database 
E)  Integrated 
A)  Personalizing 
B)  Permission 
C)  Identification 
D)  Database 
E)  Integrated

Question 9

A profitable customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing the customer.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is True for activity-based costing (ABC)?

Accepted Answer

A)  ABC considers the real costs associated with each product. 
B)  With ABC, the company can estimate all costs coming from the customer, less revenue. 
C)  The tools of ABC can be used to conduct customer profitability analysis. 
D)  It identifies the costs of products and services based on the revenue they generate. 
E)  ABC allocates indirect costs in proportion to direct costs. 
A)  ABC considers the real costs associated with each product. 
B)  With ABC, the company can estimate all costs coming from the customer, less revenue. 
C)  The tools of ABC can be used to conduct customer profitability analysis. 
D)  It identifies the costs of products and services based on the revenue they generate. 
E)  ABC allocates indirect costs in proportion to direct costs.

Question 11

Clubs that are open to everyone who purchases a product or service are good for building a customer database.

Accepted Answer

A) True 
 B)False

Question 12

Explain customer-perceived value.

Accepted Answer

Customer-perceived value (CPV) is the di

Question 13

BMW is ________ the customer experience when it offers 500 side-mirror combinations, 1,300 front bumper combinations, and 9,000 center-console combinations and provides new buyers a video link to watch their car being "born" while waiting for delivery.

Accepted Answer

A)  identifying 
B)  synthesizing 
C)  integrating 
D)  acknowledging 
E)  personalizing 
A)  identifying 
B)  synthesizing 
C)  integrating 
D)  acknowledging 
E)  personalizing

Question 14

Customer profitability analysis is best conducted with the tools of an accounting technique called activity-based costing.

Accepted Answer

A) True 
 B)False

Question 15

The value proposition is stated in the price of a product and readily recognized by the average consumer.

Accepted Answer

A) True 
 B)False

Question 16

A customer ________ is any occasion on which a customer encounters the brand and product from actual experience to personal or mass communications to casual observation.

Accepted Answer

A)  touch point 
B)  point of order 
C)  point of difference 
D)  pivot point 
E)  point of parity 
A)  touch point 
B)  point of order 
C)  point of difference 
D)  pivot point 
E)  point of parity

Question 17

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

Accepted Answer

A)  Total customer cost 
B)  Total customer benefit 
C)  Total benefits of ownership 
D)  Value proposition 
E)  Value delivery system 
A)  Total customer cost 
B)  Total customer benefit 
C)  Total benefits of ownership 
D)  Value proposition 
E)  Value delivery system

Question 18

Customer profitability analysis is best conducted with the tools of an accounting technique called ________.

Accepted Answer

A)  input-output analysis 
B)  factor analysis 
C)  revenue-based costing 
D)  activity-based costing 
E)  future date costing 
A)  input-output analysis 
B)  factor analysis 
C)  revenue-based costing 
D)  activity-based costing 
E)  future date costing

Question 19

Some customers inevitably become inactive or drop out. The challenge for marketers is to reactivate them through ________ strategies.

Accepted Answer

A)  win-back 
B)  retention 
C)  defection 
D)  sell-out 
E)  recuperation 
A)  win-back 
B)  retention 
C)  defection 
D)  sell-out 
E)  recuperation

Question 20

When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest ________.

Accepted Answer

A)  customer-perceived value 
B)  customer-perceived cost 
C)  customer profitability analysis 
D)  customer equity 
E)  customer lifetime value 
A)  customer-perceived value 
B)  customer-perceived cost 
C)  customer profitability analysis 
D)  customer equity 
E)  customer lifetime value

Which of the following is the best method of recovering customer goodwill?

To exploit the power of social media, marketers need to create tangible value for consumers, which can come from all of the following EXCEPT ________.

Explain total customer satisfaction.

The value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering.

According to IBM, what do firms need to do to exploit the power of social media?

A profitable customer yields a ________.

________ marketing is about making sure the brand and its marketing are as personally relevant as possible to as many customers as possible-a challenge, given that no two customers are identical.

A profitable customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing the customer.

Which of the following is True for activity-based costing (ABC)?

Clubs that are open to everyone who purchases a product or service are good for building a customer database.

Explain customer-perceived value.

BMW is ________ the customer experience when it offers 500 side-mirror combinations, 1,300 front bumper combinations, and 9,000 center-console combinations and provides new buyers a video link to watch their car being "born" while waiting for delivery.

Customer profitability analysis is best conducted with the tools of an accounting technique called activity-based costing.

The value proposition is stated in the price of a product and readily recognized by the average consumer.

A customer ________ is any occasion on which a customer encounters the brand and product from actual experience to personal or mass communications to casual observation.

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

Customer profitability analysis is best conducted with the tools of an accounting technique called ________.

Some customers inevitably become inactive or drop out. The challenge for marketers is to reactivate them through ________ strategies.

When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest ________.

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

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 Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters

Exam 4: Creating Long-Term Loyalty Relationships

Which of the following is the best method of recovering customer goodwill?

To exploit the power of social media, marketers need to create tangible value for consumers, which can come from all of the following EXCEPT ________.

Explain total customer satisfaction.

The value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering.

According to IBM, what do firms need to do to exploit the power of social media?

A profitable customer yields a ________.

________ marketing is about making sure the brand and its marketing are as personally relevant as possible to as many customers as possible-a challenge, given that no two customers are identical.

A profitable customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing the customer.

Which of the following is True for activity-based costing (ABC)?

Clubs that are open to everyone who purchases a product or service are good for building a customer database.

Explain customer-perceived value.

BMW is ________ the customer experience when it offers 500 side-mirror combinations, 1,300 front bumper combinations, and 9,000 center-console combinations and provides new buyers a video link to watch their car being "born" while waiting for delivery.

Customer profitability analysis is best conducted with the tools of an accounting technique called activity-based costing.

The value proposition is stated in the price of a product and readily recognized by the average consumer.

A customer ________ is any occasion on which a customer encounters the brand and product from actual experience to personal or mass communications to casual observation.

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

Customer profitability analysis is best conducted with the tools of an accounting technique called ________.

Some customers inevitably become inactive or drop out. The challenge for marketers is to reactivate them through ________ strategies.

When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest ________.

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

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 Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters