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general business data bank




Question;1.;are adept at building customer relationships, not just;products, they are skilled in market engineering, not just product engineering.;a.;Profit-centered companies;b.;Customer-centered companies;c.;Production-centered companies;d.;Sales-centered companies;e.;Promotion-centered companies;2.;The opening vignette on Ritz-Carlton shows that;successful marketers are the ones that fully ________.;a.;understand promotional strategy;b.;diversify their product line;c.;divorce themselves from a production mentality;d.;satisfy their customers profitably;e.;understand the sales concept;3. In;the modern customer-oriented organizational chart, which of the following is;considered to be at the top of the organizational pyramid?;Sales;The;president;Front-line;people;Customers;Middle;management;4. ________ is the difference between the prospective;customer?s evaluation of all the benefits and all the costs of an offering and;the perceived alternatives.;a. Perceived usefulness;b. Failure avoidance rate;c. Report rating;d. Customer-perceived value;e. Competitors? market share rate;5. Total customer;benefit is the perceived;monetary value of the bundle of economic, functional, and ________ benefits;customers expect from a given market offering.;a. psychological;b. intangible;c. realized;d. fabricated;e. advertised;6. The bundle of costs customers expect to;incur in evaluating, obtaining, using, and disposing of the given market;offering is called the ________.;a. organizational expense ratio;b. shopper?s fatigue;c. total customer cost;d. analysis paralysis;e. comparison shopping to comparison buying;ratio;7. In applying a customer?s perceived value to;a decision, a seller who is at a disadvantage with respect to;customer-perceived value has two alternatives: to increase total customer;benefit or ________.;a. increase a cash-back bonus;b. decrease total customer cost;c. lose the sale to the competitor;d. advertise more frequently;e. offer an extended warranty;8. The final step of;customer value analysis is to ________.;a. identify the;major attributes and benefits that customers value;b. assess the;company?s and competitors? performances on the different customer values;against their rated importance;c. examine how;customers in a specific segment rate the company?s performance against a;specific major competitor on an individual attribute or benefit basis;d. monitor customer;values over time;e. assess the;quantitative importance of the different attributes and benefits;9. The ________ consists of the whole cluster;of benefits the company promises to deliver, it is more than the core;positioning of the offering.;a. customer promise;b. mission statement;c. corporate pledge;d. corporate-perceived value;e. value proposition;A company?s ________ includes all the experiences the customer will;have on the way to obtaining and using the offering.;f. value proposition;g. value delivery;system;h. customer-value;analysis;i.;total customer benefit;j.;total customer cost;10. Total customer satisfaction is measured;based on the relationship of ________.;a. anticipated and real performance;b. perceived performance and expectation;c. advertised outcomes and real outcomes;d. past experience and present experience;e. customer attitude and salesperson?s;attitude;11. The ultimate goal of the customer-centered;firm is ________.;a. high customer satisfaction;b. high profits;c. low costs;d. maximum stakeholder satisfaction;e. none of the above;12. Buyers form their expectations from all of;the following EXCEPT ________.;a. past buying experience;b. friends and associates advice;c. marketers? information;d. competitors? information;e. governmental newsletters;13. A customer?s decision to be loyal or to;defect is the sum of many small encounters with the company. In order for all these small encounters to;add up to customer loyalty, many companies, such as Joie de Vivre Hospitality;strive to create ________.;a. a reward program;b. a comprehensive customer database;c. a branded customer experience;d. strong word-of-mouth promotions;e. a top-notch advertising campaign;14. One key to customer retention is ________.;It would be wise for a company to measure this factor frequently.;a. heavy promotion;b. deep discounts for intermediaries;c. to have an ethics officer;d. customer satisfaction;e. to have customers on the board of directors;15. ________ can track customer satisfaction;directly and also gauge consumers? willingness to recommend the company and;brand to others.;a. Periodic surveys;b. Mystery shoppers;c. Customer loss rates;d. Customer focus statements;e. All of the above;16. Studies of;customer dissatisfaction show that customers are dissatisfied with their;purchases about 25% of the time, but only about ________ complain.;a. 1%;b. 5%;c. 10%;d. 15%;e. 20%;17. Of customers who register a complaint;a. the majority will do business with the;company again because they are unwilling to dedicate the effort required to;find another vendor;b. none will do business with the company;again;c. customers whose complaints are;satisfactorily resolved spread more word of mouth than those who continue to be;dissatisfied;d. the speed of resolution has no impact on;the likelihood of repeat business;e. between approximately half and;three-quarters will do business with the company again if their complaint is;resolved;18. ________ is the totality of features and;characteristics of a product or service that bear on its ability to satisfy;stated or implied needs.;a. Performance;b. Value;c. Quality;d. Customer retention;e. Customer loyalty;19. Total quality is the key to value creation;and customer satisfaction. A marketing manager has several roles to play in a;quality-centered company, including ________.;a. participating in cross-functional team;building;b. correctly identifying customers? needs and;requirements;c. ensuring costs are adequately controlled;during order fulfillment;d. setting expectations both internally and;externally;e. working closely with the sales team to;create a dynamic sales message;20. The 20?80 rule reflects the idea that;a. the top 20% of customers often generate 80%;of the company?s profits;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. 20% of the company?s profits are generated;by the top 80% of customers;e. 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;21. Most companies have learned that the;are often the most profitable because of service expectations and;their willingness to pay almost full price.;a. large-size customers;b. midsize customers;c. small-size customers;d. niche customer;e. target market customers;22. A(n) ________ customer is a person;household, or company that over time yields a revenue stream that exceeds by an;acceptable amount the company?s cost stream of attracting, selling, and;servicing that customer.;a. profitable;b. semiprofitable;c. unprofitable;d. niche;e. target;23. Customer profitability analysis (CPA) is best;conducted with the tools of an accounting technique called ________.;a. input-output analysis;b. factor analysis;c. revenue-based costing (RBC);d. activity-based costing (ABC);e. future date costing (FDC);describes the net present value of the stream of future profits;expected over the customer?s lifetime purchases.;f. Activity-based costing;g. Customer profitability analysis;h. Customer value analysis;i.;Customer-perceived;value;j.;Customer;lifetime value;24. The aim of customer relationship management;(CRM) is to produce high customer ________.;a. value;b. loyalty;c. profitability;d. satisfaction;e. equity;25. A customer touch point in the airline;industry would include an item such as ________.;a. reservations;b. mechanics? ability to service the airplanes;c. ease of access to the airport;d. the value of air travel versus surface;transportation;e. competency of a travel agent;26. Customer relationship management enables;companies to provide excellent real-time customer service through the effective;use of _______.;a. reports from mystery shoppers;b. survey data from customers who have;defected;c. market research into overall consumption;trends;d. individual account information;e. demographic trend data;27. All of the following would be among the;Peppers and Rogers?s;four-step framework for one-to-one marketing that can be adapted to CRM;marketing EXCEPT ________.;a. customizing products, services, and;messages to each customer;b. interacting with individual customers to;learn their needs;c. always offering the lowest price;d. differentiating customers in terms of their;needs and value to the company;e. identifying your prospects and customers;28. Winning companies improve the value of;their customer base by excelling at each of the following strategies EXCEPT;a. retaining all customers regardless of;profitability;b. reducing the rate of customer defection;c. increasing the longevity of the customer;relationship;d. making low-profit customers more profitable;or terminating them;e. focusing disproportionate efforts on;high-value customers;29. 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 ________.;a. reducing the rate of customer defection;b. increasing the longevity of the customer;relationship;c. enhancing the growth potential of each;customer through cross-selling;d. making low-profit customers more profitable;e. terminating low-profit customers;30. 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 ________.;a. personal selling;b. direct mail;c. telemarketing;d. banner;advertisements;e. e-mail


Paper#47205 | Written in 18-Jul-2015

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