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St. Leo ACCOUNTING 560 Accounting Quiz Ch 5 - 6

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Question;1. Question: When marketers profile the customer buying-decision process by thinking about how they themselves would act, these marketers are employing the ________. Student Answer: retrospective method introspective method consumption system method prospective method prescriptive method 2. Question: All of the following are examples of the perils of CRM EXCEPT ________. Student Answer: implementing CRM before creating a customer strategy the enormous cost that might eventually drain significant profits from the organization rolling out CRM before changing the organization to match assuming more CRM technology is better stalking, not wooing, customers 3. Question: Using his company's ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship. Student Answer: data warehouse call back list call rejection list corporate database Better Business Bureau contacts 4. Question: ________ refers to the manner by which consumers code, categorize, and evaluate financial outcomes of choices. Student Answer: Cost accounting Financial accounting Behavioral accounting Mental accounting Factual accounting 5. Question: People choose products that reflect and communicate their role and actual or desired ________ in society. Student Answer: group status attitudes beliefs feelings 6. Question: In general, companies can use their databases in all of the following ways EXCEPT ________. Student Answer: to predict competitive strategies and plans to identify prospects to decide which customers should receive a particular offer to deepen customer loyalty to avoid serious customer mistakes 7. Question: Although actual costs vary from business to business depending on the complexity of the sales process, the most expensive customer acquisition method based on cost per solicitation is ________. Student Answer: personal selling direct mail telemarketing banner advertisements e-mail 8. Question: ________ risk occurs if the product fails to perform up to expectations. Student Answer: Physical Financial Social Psychological Functional 9. Question: Of customers who register a complaint, ________. Student Answer: the majority will do business with the company again because they are unwilling to dedicate the effort required to find another vendor none will do business with the company again customers whose complaints are satisfactorily resolved spread more word of mouth than those who continue to be dissatisfied the speed of resolution has no impact on the likelihood of repeat business between approximately half and three-quarters will do business with the company again if their complaint is resolved 10. Question: The buying process starts when the buyer recognizes a(n) _________. Student Answer: product advertisement for the product salesperson from a previous visit problem or need internal cue 11. Question: Marketers use all of the following techniques to convert a low-involvement product into one of high involvement EXCEPT ________. Student Answer: linking the product to some involving personal situation linking the product to some involving issue designing advertising to trigger strong emotions related to personal values or ego defense adding an important feature raising the price 12. Question: With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes. Student Answer: conjunctive lexicographic elimination-by-aspects primary secondary 13. Question: Susan Lefferts' company advertises widely. Ms. Lefferts uses business reply cards attached to her company's magazine ads to build her company's database. In which of the following ways would Ms. Lefferts most likely use the database? Student Answer: To deepen customer loyalty To reactivate customer purchases To avoid serious customer mistakes To determine if up-selling is appropriate To identify prospects 14. Question: Anne prefers Yoplait strawberry yogurt over other brands. When she decides to try a different flavor, she picks another Yoplait yogurt because she believes that, if the strawberry flavor is good, other Yoplait flavors must be good as well. This behavior is best described as ________. Student Answer: discrimination associative networking generalization heuristic thinking self-actualization 15. Question: Consumption may be shaped by ________ (such as marriage, childbirth, or divorce). Student Answer: the psychological life cycle the product life cycle the life/death life cycle postpuberty cycles critical life events or transitions 16. Question: The 20-80 rule reflects the idea that ________. Student Answer: the top 20% of customers often generate 80% of the company's profits the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend 20% of customers are unprofitable, and 80% make up a company's profits 20% of the company's profits are generated by the top 80% of customers any new product offering 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 17. Question: Consumers often choose and use brands that have a brand personality consistent with how they see themselves, also known as the ________. Student Answer: actual self-concept ideal self-concept others' self-concept prohibitive self-concept suggestive self-concept 18. Question: A child growing up in the United States is exposed to all of the following values EXCEPT ________. Student Answer: achievement and success activity efficiency and practicality the importance of the group in daily life freedom 19. Question: When companies provide rewards to customers who buy frequently and in substantial amounts, this is referred to as ________. Student Answer: benefit programs frequency programs satisfaction programs loyalty programs quality programs 20. Question: All of the following are methods to form strong customer bonds EXCEPT ________. Student Answer: creating superior products, services, and experiences for the target market making it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaints organizing and making accessible a database of information on individual customer needs, preferences, contacts, purchase frequency, and satisfaction running award programs recognizing outstanding employees concentrating the planning and management of the customer satisfaction and retention process within the marketing department

 

Paper#42164 | Written in 18-Jul-2015

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