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Question;Multiple Choice;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 Washington Mutual indicates;that, as the Washington Mutual experience shows, 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;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 are;at the top of the organizational pyramid.;The;president is at the top of the organizational pyramid.;Front-line;people are at the top of the organizational pyramid.;Customers;are at the top of the organizational pyramid.;Middle;management, because of their importance;is at the top of the organizational pyramid.;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;value 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;including monetary, time, energy;and psychic costs 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 customer perceived value disadvantage has two;alternatives: to increase total customer value or ________.;a. increase a cash-back bonus;b. decrease cost;c. lose the sale to the competitor;d. advertise more;frequently;e. offer an extended warranty;\;8. 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;\;9. 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;\;10. 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;\;11. JetBlue is able to meet or exceed customer;expectations of low price air travel in part to a few corporate commandments;like: safety, caring, integrity, fun and passion. JetBlue refers to these as ________.;a. teamwork parables;b. values;c. satisfaction indices;d. customer focus statements;e. JetBlue benefits;\;12. A customer?s decision to be loyal or to;defect is the sum of many small encounters with the company.;Consulting firm Forum Corporation says that in order for all these small;encounters to add up to customer loyalty, companies;need 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;\;13. 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;\;14. The best survey method to measure customer;satisfaction directly is ________.;a. to employ;a mystery shopper;b. the mailed questionnaire;c. to survey former customers;d. periodic surveys;e. compute;the customer loss rate;\;15. Which of the following firms leads its;industry with a number one ranking for customer satisfaction on the ACSI scale;(American Consumer Satisfaction Index) with a score of 87?;a. Cadillac;b. Ford;c. Chrysler;d. Chevrolet;e. Corvette;\;16. ________ 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;\;17. Total quality is the key to value creation;and customer satisfaction. Marketing managers have two roles to play in a;quality-centered company. First;they must participate in formulating strategies and policies to help the company win through total quality excellence. Second;they must??? ________.;a. participate in cross-functional team;building;b. deliver marketing quality alongside;production quality;c. define customer requirements during the;innovation stage of the product life cycle;d. set expectations both internally and;externally;e. work closely with the sales team to create;a dynamic sales message;\;18. ________ is an organization-wide approach;to continuously improving the;quality of all the organization?s processes, products, and services.;a. Total quality management;b. Strategic management;c. Profit-centered management;d. Customer-retention management;e. Total customer control management;19. The 20-80-30 rules reflects the idea that ________.;a. the top 20 percent of customers generate 80;percent of the company?s profits;half of which are lost serving the bottom 30 percent of unprofitable customers;b. the top 20 percent of customers are highly;satisfied, 80 percent of customers will recommend the company;to a friend, and 30 percent are unsatisfied;c. 20 percent of customers are unprofitable;80 percent of customers make up 30 percent of a company?s;profits;d. 20 percent of the company?s;profits are generated by 80 percent of customers, and 30 percent of customers;are satisfied;e. any new product offering will be accepted;by 20 percent of the customers immediately, this figure will eventually rise to;30 percent, however, 80 percent of the customers will be up for grabs;throughout the product life cycle for the product;20. Most companies;have learned that the ________ are the most;profitable because of service expectations and their willingness to pay almost full price for the products they purchase.;a. large-size customers;b. midsize customers;c. small-size customers;d. niche customers;e. target market customers;21. A ________ 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. semi-profitable;c. unprofitable;d. niche;e. target;22. 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);23. Which of the following is the best example of what is called a leverageable advantage?;a. Dell avoiding selling its products in;retail stores.;b. Apple winning design awards and producing;unique commercials.;c. Microsoft?s use of its operating system to;Microsoft Office as a means to supply networking applications.;d. Southwest Airlines;winning the J.D. Power award.;e. American tobacco companies;attempts to diversify their holdings;after the famous tobacco case;losses.;24. Taco Bell;has determined that keeping customers satisfied can be very profitable. A;repeat customer in Taco Bell?s eyes can be worth as much as ________ over the;customer?s lifetime.;a. $100,000;b. $61,000;c. $35,000;d. $11,000;e. $2,000;25. The aim of customer relationship management;(CRM) is to produce high customer ________.;a. value;b. loyalty;c. profitability;d. satisfaction;e. equity


Paper#47206 | Written in 18-Jul-2015

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