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saint MBA565 QUIZ 2




Question;CRM technology can help motivate employees by ________.;analyzing customer revenue and cost data to;identify current and future high-value customers;better targeting the company's direct;marketing efforts;tracking customer-service satisfaction levels;aligning employee incentives and metrics;developing new pricing models;Question 2. Question;Winning companies improve the value of their customer base;by excelling at each of the following strategies EXCEPT ________.;retaining all customers regardless of;profitability;reducing the rate of customer defection;increasing the longevity of the customer;relationship;making low-profit customers more profitable or;terminating them;focusing disproportionate efforts on;high-value customers;Question 3. Question;Harley-Davidson sells more than motorcycles and accessories.;Its dealerships also sell branded clothing and licensed goods. This expansion;of dealership sales offerings is an attempt to increase the value of the;customer base by ________.;reducing the rate of customer defection;increasing the longevity of the customer;relationship;enhancing the growth potential of each;customer through cross-selling;making low-profit customers more profitable;terminating low-profit customers;Question 4. Question;Which of the following would be the best illustration of a;subculture?;A religion;A group of close friends;Your university;A fraternity or sorority;Your occupation;Question 5. Question;All of the following are methods to form strong customer;bonds EXCEPT ________.;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;Question 6. Question;is the difference between the prospective;customer's evaluation of all the benefits and all the costs of an offering and;the perceived alternatives.;Perceived usefulness;Failure avoidance rate;Report rating;Customer-perceived value;Competitors' market share rate;Question 7. Question;All of the following are examples of the perils of CRM;EXCEPT ________.;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;Question 8. 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?;To deepen customer loyalty;To reactivate customer purchases;To avoid serious customer mistakes;To determine if up-selling is appropriate;To identify prospects;Question 9. Question;The ultimate goal of the customer-centered firm is ________.;high customer satisfaction;high profits;low costs;maximum stakeholder satisfaction;none of the above;Question 10. Question;Which of the following is considered to be one of the four;problems that can deter a firm from using CRM (customer relationship;marketing)?;Competitors can often hack into CRM systems.;Building and maintaining a customer database;requires a large investment.;It is very difficult to find and train;database employees.;Long-term results of such systems are still;unproven.;Focusing too much on databases separates a;company from its customers.;Question 11. Question;All of the following would be considered to be strategies;for approaching consumers who had rejected your company's model of a product;for another competitive brand EXCEPT ________.;Student Answer: redesign your;company's product;alter beliefs about your company's brand;covertly alter the qualitative data about your;product;alter beliefs about competitors' brands;call attention to neglected attributes;Question 12. 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.;data warehouse;call back list;call rejection list;corporate database;Better Business Bureau contacts;Question 13. Question;Most companies have learned that the ________ are often the;most profitable because of service expectations and their willingness to pay;almost full price.;large-size customers;midsize customers;small-size customers;niche customers;target market customers;Question 14. 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.;conjunctive;lexicographic;elimination-by-aspects;primary;secondary;Question 15. Question;People choose products that reflect and communicate their;role and actual or desired ________ in society.;group;status;attitudes;INCORRECT beliefs;feelings;Question 16. Question;The 20-80 rule reflects the idea that ________.;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;Question 17. Question;A customer touch point in the airline industry would include;an item such as ________.;reservations;mechanics' ability to service the airplanes;ease of access to the airport;the value of air travel versus surface;transportation;competency of a travel agent;Question 18. Question;Steve has only 20 minutes to get lunch. Although he really;likes McDonald's, the line is very long and he is concerned that he will not;have a chance to get through the line and eat his lunch before he is due back;at work. Steve perceives ________ in going to McDonald's today.;time risk;functional risk;physical risk;psychological risk;social risk;Question 19. Question;Amy and Jack were loyal customers of GreenFoods, a local;grocery store. However, after a couple of incidents where they had to return;products that were stale and out of date, the couple decided to try out;VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack;must move through each stage in the marketing funnel before becoming loyal;customers.;Jack has shopped at VeggiesNmore. He was happy with the;experience and thought that this could be an alternative to GreenFoods.;However, he is also keen to try out other stores in the neighborhood. He is in;the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is;concerned.;aware;open to trial;most often used;nonrejecter;regular user;Question 20. Question;The ________ says people have a general tendency to;attribute success to themselves and failure to external causes.;availability heuristic;trait-role theory;awareness set;anchoring heuristic


Paper#47003 | Written in 18-Jul-2015

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