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mba565 module 2 quiz

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Question;Module;2: The Customer - Quiz 2;1.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 customers;2.The aim of;customer relationship management (CRM) is to produce high customer;(Points: 5);valueloyaltyprofitabilitysatisfactionequity;3.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 agent;4.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-aspectsprimarysecondary;5.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 models;6.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 department;7.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 attributes;8.________ 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 rate;9.________ involves;the use of sophisticated statistical and mathematical techniques such as;cluster analysis, automatic interaction detection, predictive modeling, and;neural networking. (Points: 5);Data managementData marketingTarget market;analysisData accumulationDatamining;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.;11.Of customers who;register a complaint, ________. (Points: 5);the majority will;do business with the company again because they are unwilling to dedicate the;effort required to find another vendornone will do;business with the company againcustomers whose;complaints are satisfactorily resolved spread more word of mouth than those;who continue to be dissatisfiedthe speed of;resolution has no impact on the likelihood of repeat businessbetween;approximately half and three-quarters will do business with the company again;if their complaint is resolved;12.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;customers;13.Customer;relationship management enables companies to provide excellent real-time;customer service through the effective use of _______. (Points: 5);reports from;mystery shopperssurvey data from;customers who have defectedmarket research;into overall consumption trendsindividual account;informationdemographic trend;data;14.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 contacts;15.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;16.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, customers;17.Consumers often;choose and use brands that have a brand personality consistent with how;they see themselves, also known as the ________. (Points: 5);actual self-conceptideal self-conceptothers;self-conceptprohibitive;self-conceptsuggestive;self-concept;18.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 customers;19.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. (Points: 5);profitablesemiprofitableunprofitablenichetarget;20.Cognitive;psychologists believe that memory is ________, so that once information;becomes stored in memory, its strength of association decays very slowly.;(Points: 5);very limitedsomewhat limitedfluidoften reflectiveextremely durable

 

Paper#47406 | Written in 18-Jul-2015

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