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general business data bank

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Question;1. Another term for high customer ________ is customer;churn.;a. retention;b. defection;c. value;d. perception;e. belief;2. People with the motivation, ability, and;opportunity to make a purchase are known as ________.;a. potentials;b. advocates;c. members;d. prospects;e. partners;3. Customers who enthusiastically recommend;the company and its products and services to others are known as ________.;a. potentials;b. advocates;c. members;d. prospects;e. partners;4. Satisfied customers constitute the;company?s ________.;a. customer relationship capital;b. customer churn;c. prospects;d. high-value customers;e. customer touch points;5. Acquiring new customers can cost;times more than satisfying and retaining current customers.;a. two;b. three;c. five;d. seven;e. 10;6. All of the following are methods to form;strong customer bonds EXCEPT ________.;a. creating superior products, services, and;experiences for the target market;b. making it easy for customers to reach the;appropriate company personnel and express their needs, perceptions, and;complaints;c. organizing and making accessible a database;of information on individual customer needs, preferences, contacts, purchase;frequency, and satisfaction;d. running award programs recognizing;outstanding employees;e. concentrating the planning and management;of the customer satisfaction and retention process within the marketing;department;7. When companies provide rewards to customers;who buy frequently and in substantial amounts, this is referred to as ________.;a. benefit programs;b. frequency programs;c. satisfaction programs;d. loyalty programs;e. quality programs;Typically, ________ gains the most;benefit from introducing a frequency program.;f. the first company to introduce a frequency;program in an industry;g. the fast follower, who is second to;introduce a frequency program in an industry;h. the industry sales leader;i.;the;niche player in the industry;j.;the;low-cost leader in the industry;8. All of the following are CRM imperatives;EXCEPT ________.;a. acquiring the right customer;b. crafting the right value proposition;c. instituting the best processes;d. motivating employees;e. learning to make profits through marginal;customers;9. CRM technology can help motivate employees;by ________.;a. analyzing customer revenue and cost data to;identify current and future high-value customers;b. better targeting the company?s direct;marketing efforts;c. tracking customer-service satisfaction;levels;d. aligning employee incentives and metrics;e. developing new pricing models;10. According to Stanford?s business guru;Jeffery Pfeffer, ?the best companies build cultures in which frontline people;?;a. can refer serious problems to senior;management;b. have strictly limited freedom to deviate;from standard operating procedures;c. are also consumers of the company?s;products;d. are empowered to do what?s needed to take;care of the customer;e. live in the communities they serve;11. An organized collection of comprehensive;information about individual customers or prospects that is current;accessible, and actionable for such marketing purposes as lead generation, lead;qualification, sale of a product or service, or maintenance of customer;relationships is called ________.;a. a customer database;b. a customer mail list;c. target market segments;d. customer segments;e. relationship marketsa;12. The process of building, maintaining, and;using customer databases and other databases for the purpose of contacting;transacting, and building customer relationships is called ________.;a.;data warehousing;b.;datamining;c.;database marketing;d.;custom marketing;e.;electronic marketing;13. A _____________ is simply a set of names;addresses, and telephone numbers.;a. customer database;b. customer mailing list;c. call-waiting list;d. psychographic list;e. demographic list;14. A customer database should contain all of;the following EXCEPT ________.;a. a customer?s past purchases;b.;demographics;c.;psychographics;d.;mediagraphics;e.;an assessment of competitive strengths;and weaknesses;15. A ________ would contain such items as past;volumes, prices, profits, buyer, status of current contacts, and an assessment;of competitive strengths and weaknesses.;a. customer mailing list;b. contact list;c. customer database;d. business database;e. general corporate database;16. Savvy companies are capturing information;every time a customer comes into contact with any of its departments. As a;marketing manager all of the following would be available customer touch points;for your consideration EXCEPT ________.;a. a customer purchase;b. an online query;c. a mail-in rebate card;d. an ad run on a national television network;e. a customer-requested service call;17. 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.;a. data warehouse;b. call back list;c. call rejection list;d. corporate database;e. Better Business Bureau contacts;18. Through ________, marketing statisticians;can extract useful information about individuals, trends, and segments from the;mass of data.;a. data accumulation;b. target market information supplied by the;government;c. datamining;d. data management;e. data marketing;19. ________ involves the use of sophisticated;statistical and mathematical techniques such as cluster analysis, automatic;interaction detection, predictive modeling, and neural networking.;a. Data management;b. Data marketing;c. Target market analysis;d. Data accumulation;e. Datamining;20. In general, companies can use their;databases in all of the following ways EXCEPT ________.;a. to predict competitive strategies and plans;b. to identify prospects;c. to decide which customers should receive a;particular offer;d. to deepen customer loyalty;e. to avoid serious customer mistakes;21. 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?;a. To deepen customer loyalty;b. To reactivate customer purchases;c. To avoid serious customer mistakes;d. To determine if up-selling is appropriate;e. To identify prospects;Phil Langston has just ordered a number of expensive executive gifts that he;will be sending as an appreciation token to a select few customers from his;client database. In which of the following ways is Mr. Langston most likely;using his database?;f. To identify prospects;g. To decide which customers should receive a;new sales offer;h. To deepen customer loyalty;i.;To;avoid serious customer mistakes;j.;To;beat the competition to a sale;22. Royal Caribbean;uses its ________ to offer spur-of-the-moment cruise packages to fill all the;berths on its ships. It focuses on retired people and single people because;they are more able to make quick commitments.;a. advertising;b. database;c. mail catalogs;d. public relations department;e. radio advertising;23. Which of the following is considered to be;one of the four problems that can deter a firm from using CRM (customer;relationship marketing)?;a. Competitors can often hack into CRM;systems.;b. Building and maintaining a customer;database requires a large investment.;c. It is very difficult to find and train;database employees.;d.;Long-term;results of such systems are still unproven.;e.;Focusing too much on databases separates a;company from its customers.;24. Building a database would not be worthwhile;for a company in all of the following cases EXCEPT ________.;a. where the product is a one-in-a-lifetime;purchase;b. where customers show little loyalty to a;brand;c. where the company already has an above;average relationship with its customers;d. where the unit sale is very small;e. where the cost of gathering the information;is too high;25. All of the following are examples of the;perils of CRM EXCEPT ________.;a. implementing CRM before creating a customer;strategy;b. the enormous cost that might eventually;drain significant profits from the organization;c. rolling out CRM before changing the;organization to match;d. assuming more CRM technology is better;e. stalking, not wooing, customers;Marketers from which of the following are most likely to use database marketing?;f. An airline;g. A candy bar manufacturer;h. A grand piano maker;i.;A;toothpaste manufacturer;j.;None;of the above would use database marketing.

 

Paper#47232 | Written in 18-Jul-2015

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