Exam 6: Value for Customers

Identify and briefly explain the four steps a company should take to practice CRM and develop one-to-one relationships with its customers.

A value map can be used to track the perceived values of competitors' products.

Relationship marketing is also known as ________.

Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business. He is a smart operator who knows that the key to this goal is to match ________ with ________.

A company that assigns actual marketing costs to customers based on the costs of performing various marketing activities is conducting a customer ________ analysis.

A company would be most likely to use which of the following to weed out unprofitable customers and target the most profitable ones for pampering?

The emotional experience that a customer has with a purchase will be either positive or negative.

In CRM, findings about customers discovered through ________ techniques often lead to marketing opportunities.

A company is most likely to see increased customer loyalty by practicing which step of the CRM process?

Why is attracting new customers so important to a company's sales and profits?

Which of the following is the term for customers who enthusiastically share their positive experiences with a product with friends, neighbors, and colleagues?

________ is the degree to which a product meets or exceeds customer expectations.

A satisfied customer is the most loyal type of customer.

Customer information in a CRM system should be constantly updated.

A company can increase the perceived value of its product by increasing the perceived benefits, increasing the perceived costs, or a combination of the two.

Customer perceived value is determined by a customer's ________ of the benefits and costs of a product.

Explain how a company determines customer lifetime value and how a company can use this information to its advantage.

Which of the following types of information would a company be LEAST interested in collecting using a CRM system?

Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell. By promoting a company culture that values exceptional value and service, Shania aims to create ________ by going beyond the expected.

A company's customer service quality plays the greatest role in customer satisfaction for ________.