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saint MBA565 quiz 2

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Question;1.CRM technology can help motivate employees by ________. (Points: 5) analyzing customer revenue and cost data to identify current and future high-value customersbetter targeting the company's direct marketing effortstracking customer-service satisfaction levelsaligning employee incentives and metricsdeveloping new pricing modelsQuestion 2.2.Winning companies improve the value of their customer base by excelling at each of the following strategies EXCEPT ________. (Points: 5) retaining all customers regardless of profitabilityreducing the rate of customer defectionincreasing the longevity of the customer relationshipmaking low-profit customers more profitable or terminating themfocusing disproportionate efforts on high-value customersQuestion 3.3.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 ________. (Points: 5) reducing the rate of customer defectionincreasing the longevity of the customer relationshipenhancing the growth potential of each customer through cross-sellingmaking low-profit customers more profitableterminating low-profit customersQuestion 4.4.Which of the following would be the best illustration of a subculture? (Points: 5) A religionA group of close friendsYour universityA fraternity or sororityYour occupationQuestion 5.5.All of the following are methods to form strong customer bonds EXCEPT ________. (Points: 5) creating superior products, services, and experiences for the target marketmaking it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaintsorganizing and making accessible a database of information on individual customer needs, preferences, contacts, purchase frequency, and satisfactionrunning award programs recognizing outstanding employeesconcentrating the planning and management of the customer satisfaction and retention process within the marketing departmentQuestion 6.6.________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives. (Points: 5) Perceived usefulnessFailure avoidance rateReport ratingCustomer-perceived valueCompetitors' market share rateQuestion 7.7.All of the following are examples of the perils of CRM EXCEPT ________. (Points: 5) implementing CRM before creating a customer strategythe enormous cost that might eventually drain significant profits from the organizationrolling out CRM before changing the organization to matchassuming more CRM technology is betterstalking, not wooing, customersQuestion 8.8.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? (Points: 5) To deepen customer loyaltyTo reactivate customer purchasesTo avoid serious customer mistakesTo determine if up-selling is appropriateTo identify prospectsQuestion 9.9.The ultimate goal of the customer-centered firm is ________. (Points: 5) high customer satisfactionhigh profitslow costsmaximum stakeholder satisfactionnone of the aboveQuestion 10.10.Which of the following is considered to be one of the four problems that can deter a firm from using CRM (customer relationship marketing)? (Points: 5) 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 11.11.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 ________. (Points: 5) redesign your company's productalter beliefs about your company's brandcovertly alter the qualitative data about your productalter beliefs about competitors' brandscall attention to neglected attributesQuestion 12.12.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. (Points: 5) data warehousecall back listcall rejection listcorporate databaseBetter Business Bureau contactsQuestion 13.13.Most companies have learned that the ________ are often the most profitable because of service expectations and their willingness to pay almost full price. (Points: 5) large-size customersmidsize customerssmall-size customersniche customerstarget market customersQuestion 14.14.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. (Points: 5) conjunctivelexicographicelimination-by-aspectsprimarysecondaryQuestion 15.15.People choose products that reflect and communicate their role and actual or desired ________ in society. (Points: 5) groupstatusattitudesbeliefsfeelingsQuestion 16.16.The 20-80 rule reflects the idea that ________. (Points: 5) the top 20% of customers often generate 80% of the company's profitsthe top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend20% of customers are unprofitable, and 80% make up a company's profits20% of the company's profits are generated by the top 80% of customersany 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 cycleQuestion 17.17.A customer touch point in the airline industry would include an item such as ________. (Points: 5) reservationsmechanics' ability to service the airplanesease of access to the airportthe value of air travel versus surface transportationcompetency of a travel agentQuestion 18.18.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. (Points: 5) time riskfunctional riskphysical riskpsychological risksocial riskQuestion 19.19.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. (Points: 5) awareopen to trialmost often usednonrejecterregular userQuestion 20.20.The ________ says people have a general tendency to attribute success to themselves and failure to external causes. (Points: 5) availability heuristictrait-role theoryawareness setanchoring heuristichedonic bias

 

Paper#47084 | Written in 18-Jul-2015

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