Question 1

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 2

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

Accepted Answer

The answer of Compare and contrast the typical traditional organization...

Question 3

Sammy's is a fast food chain that offers burgers,sandwiches,and shakes.It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it.Hence,Sammy's is focusing its marketing efforts on its ________.

Accepted Answer

A) horizontal marketing system 
B) cost versus benefit system 
C) consumption system 
D) marketing channel system 
E) value delivery system

Question 4

What are the measurement techniques for monitoring satisfaction?

Accepted Answer

The answer of What are the measurement techniques for monitoring...

Question 5

Customer relationship management enables companies to provide excellent real-time customer service through the effective use of ________.

Accepted Answer

A) reports from mystery shoppers 
B) survey data from customers who have defected 
C) market research 
D) individual account information 
E) demographic trend data

Question 6

All companies should practice one-to-one marketing.

Accepted Answer

A) True 
 B)False

Question 7

Give an example of two products that have different performance quality but are of equal conformance quality.

Accepted Answer

The answer of Give an example of two products that...

Question 8

Which of the following is true for 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.

Question 9

A ________ is an organized collection of comprehensive information about individual customers or prospects that is current,accessible,and actionable for lead generation,lead qualification,sale of a product or service,or maintenance of customer relationships.

Accepted Answer

A) customer database 
B) customer mailing list 
C) customer-performance scorecard 
D) customer profitability analysis 
E) customer-value hierarchy

Question 10

A customer touch point is the time when the customer makes a purchase.

Accepted Answer

A) True 
 B)False

Question 11

Uncle Jim's is a brand of ready-to-eat snacks that is widely distributed in supermarkets and stores across the country.Should Uncle Jim's opt for one-to-one marketing? Give reasons for your answer.

Accepted Answer

The answer of Uncle Jim's is a brand of ready-to-eat...

Question 12

LZT is a cell phone manufacturer that designs its phones based on customer input.Once a new model is launched,the company monitors customer feedback and uses negative reviews to improve the next model.LZT also handles customer queries at length,and customer service is considered to be the most important function in the company.Is LZT more likely to use a traditional or modern company organization?

Accepted Answer

The answer of LZT is a cell phone manufacturer that...

Question 13

Explain customer-perceived value.

Accepted Answer

The answer of Explain customer-perceived value....

Question 14

________ can be 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.

Accepted Answer

A) Value proposition 
B) Loyalty 
C) Satisfaction 
D) Respect 
E) Customer value

Question 15

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 16

Bicycle store 2Wheels notices that it has a high proportion of low-profit customers,but doesn't want to terminate the customer relationship.What can 2Wheels do to make these customers more profitable?

Accepted Answer

The answer of Bicycle store 2Wheels notices that it has...

Question 17

Consumers' expectations result exclusively from past buying experiences.

Accepted Answer

A) True 
 B)False

Question 18

The 20-80 rule reflects the idea that ________.

Accepted Answer

A) 20% of the company's profits are generated by the top 80% of customers 
B) the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend 
C) 20% of customers are unprofitable,and 80% make up a company's profits 
D) the top 20% of customers often generate 80% of the company's profits 
E) any new product will be accepted by 20% of the customers immediately,but 80% of the customers will be up for grabs throughout the product's life cycle

Question 19

To increase customer loyalty,2Wheels wants to start a club for its dedicated customers,but wants to make sure that only members who are ready to participate in activities join the club.What can it do to ensure this?

Accepted Answer

The answer of To increase customer loyalty,2Wheels wants to start...

Question 20

Activity-based costing tries to identify the real costs associated with serving each customer.

Accepted Answer

A) True 
 B)False

Exam 5: Creating Customer Value,satisfaction,and Loyalty

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

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

Sammy's is a fast food chain that offers burgers,sandwiches,and shakes.It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it.Hence,Sammy's is focusing its marketing efforts on its ________.

What are the measurement techniques for monitoring satisfaction?

Customer relationship management enables companies to provide excellent real-time customer service through the effective use of ________.

All companies should practice one-to-one marketing.

Give an example of two products that have different performance quality but are of equal conformance quality.

Which of the following is true for customer relationship marketing?

A ________ is an organized collection of comprehensive information about individual customers or prospects that is current,accessible,and actionable for lead generation,lead qualification,sale of a product or service,or maintenance of customer relationships.

A customer touch point is the time when the customer makes a purchase.

Uncle Jim's is a brand of ready-to-eat snacks that is widely distributed in supermarkets and stores across the country.Should Uncle Jim's opt for one-to-one marketing? Give reasons for your answer.

Explain customer-perceived value.

________ can be 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.

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

Bicycle store 2Wheels notices that it has a high proportion of low-profit customers,but doesn't want to terminate the customer relationship.What can 2Wheels do to make these customers more profitable?

Consumers' expectations result exclusively from past buying experiences.

The 20-80 rule reflects the idea that ________.

To increase customer loyalty,2Wheels wants to start a club for its dedicated customers,but wants to make sure that only members who are ready to participate in activities join the club.What can it do to ensure this?

Activity-based costing tries to identify the real costs associated with serving each customer.