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general business data bank




Question;76. Marketers have found that the most;essential role to be played in defining and delivering high-quality goods and;services to target customers is that of price (e.g., price it right and it will;sell).;77. The midsize customers;for most organizations receive good;service, pay nearly full price for;the products and services they purchase, and are often the most profitable.;78. A profitable 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 the customer.;79. Most companies measure;customer satisfaction and individual customer profitability.;80. Unprofitable customers who defect to a competitor should be encouraged to do so.;81. Customer profitability analysis (CPA) is best;conducted with the tools of an accounting technique called Activity-Based;Costing (ABC).;82. According to customer profitability analysis (CPA), platinum;customers spend the most money with the organization thereby making them;valuable.;83. Any competitive advantage;must be seen by customers as a customer advantage.;84. Customer lifetime value (CLV) describes the net present value of the;stream of future profits expected over the customer?s lifetime purchases.;85.;Carl Sewell, in Customers for Life, estimated that a customer entering his car;dealership for the first time represents a potential lifetime value of over;$300,000.;86. The aim of customer;relationship management is to keep the costs of meeting and tracking consumers;as low as possible.;Answer: False;87. Brand equity is the;customer?s objective assessment of the utility of an offering based on;perceptions of its benefits relative to its costs.;88. Customer equity is;driven by three components;acquisition, retention, and add on selling.;89. A good illustration of a personal touch in the hotel business would;be if the hotel employees (e.g.;registration, maid service, et cetera) call a guest by his or her name.;90. A customer touch point is the time when the customer makes a;purchase.;91. A key driver of shareholder value is the;aggregate value of the customer base.;92. One of the characteristics of mass marketing is using a one-way;message in promotions.;93. Customer churn is how rapidly a store can move;customers through its checkout facility or process.;94. Ninety-six percent of dissatisfied customers don?t complain, they just stop buying.;95. The average;company loses 25 percent of its;customers each year.;96. A good description of a permanent;capture marketwould be ?once a customer, always a customer.?;97. In proactive marketing the salesperson simply sells the product.;98. A;customer database is simply a;listing of a customer?s name, address, and phone;number for credit reference.;99. Cluster;analysis is a good example of a;statistical technique that might be employed;in datamining.;100.;Database marketing is most;frequently used by business marketers and service providers (hotels, banks, airlines;and insurance, credit card, and telephone companies);that normally and easily collect a lot of customer data.


Paper#47208 | Written in 18-Jul-2015

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