Deck 2: The Thinking Behind Customer Relationships That Leads to Good Experiences

Question 1

What are some reasons companies become customer-centric?

A) Customers create both short-term and long-term value.
B) Customers are the sole source of a company's revenue.
C) Customers are scarce.
D) Focusing on customers will ensure every transaction is profitable.
E) All of the above

Answer 1

All of the above

Question 2

The following are reasons some companies have resisted becoming customer-centric except:

A) Some believe they should invest in employees rather than customers.
B) Some believe that customers are scarce.
C) Some believe that they should prioritize cash flow, focusing on products to ensure profitability.
D) Some believe they should prioritize "brand promise," believing that brand awareness is the key to profitability.
E) None of the above

Answer 2

Some believe that customers are scarce.

Question 3

A business relationship is mutual, interactive, iterative, and _________.

A) symmetric
B) transactional
C) unique
D) Loyal

Answer 3

unique

Question 4

According to Jim Barnes, the following quality does not define a genuine business relationship:

A) behavior
B) attitude
C) experience
D) environment

Question 5

The 5 Es of customer relationship are:

A) exploration, enhancement, experience, emotions, engagement
B) environment, expectations, exploration, experience, engagement
C) environment, enhancement, experimentation, emotions, engagement
D) environment, expectations, emotions, experience, engagement

Question 6

Barnes suggests a company evaluate a customer's experience on each of the following levels except:

A) easy to do business with
B) likelihood to refer to others
C) "product in use" experience
D) experiences companies can create or enhance

Question 7

In the behavioral definition of customer loyalty, customer loyalty ________ brand preference.

A) causes
B) results from
C) is inversely related to
D) none of the above

Question 8

The following are best practices for loyalty programs except:

A) Always err on the side of customer privacy over customer insight.
B) An effective program allows participants to mix and match aspects according to preferences.
C) A loyalty program should be managed around customers, not products.
D) Customers value openness, so the best loyalty programs work with other programs.

Question 9

Does mass marketing have any role in the Interactive Era? If so, what? How might branding be used, and what benefits could it yield for the customer-centric enterprise?

Question 10

What strategy would you suggest for a company dealing with high customer churn (and presumably low customer loyalty), taking into account both attitudinal and behavioral definitions of loyalty? How would you characterize the core problem? How might a loyalty program help?