14 Aug CRM technology can help motivate employees by ________. analyzing customer rev

CRM technology can help motivate employees by ________.

analyzing customer revenue and cost data to
identify current and future high-value customers
better targeting the company’s direct
marketing efforts
tracking customer-service satisfaction levels
aligning employee incentives and metrics
developing new pricing models

Question 2. Question
:
Winning companies improve the value of their customer base
by excelling at each of the following strategies EXCEPT ________.

retaining all customers regardless of
profitability
reducing the rate of customer defection
increasing the longevity of the customer
relationship
making low-profit customers more profitable or
terminating them
focusing disproportionate efforts on
high-value customers

Question 3. Question
:
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 ________.

reducing the rate of customer defection
increasing the longevity of the customer
relationship
enhancing the growth potential of each
customer through cross-selling
making low-profit customers more profitable
terminating low-profit customers

Question 4. Question
:
Which of the following would be the best illustration of a
subculture?

A religion
A group of close friends
Your university
A fraternity or sorority
Your occupation

:

Question 5. Question
:
All of the following are methods to form strong customer
bonds EXCEPT ________.

creating superior products, services, and
experiences for the target market
making it easy for customers to reach the
appropriate company personnel and express their needs, perceptions, and
complaints
organizing and making accessible a database of
information on individual customer needs, preferences, contacts, purchase
frequency, and satisfaction
running award programs recognizing outstanding
employees
concentrating the planning and management of
the customer satisfaction and retention process within the marketing department

Question 6. Question
:
________ is the difference between the prospective
customer’s evaluation of all the benefits and all the costs of an offering and
the perceived alternatives.

Perceived usefulness
Failure avoidance rate
Report rating
Customer-perceived value
Competitors’ market share rate

Question 7. Question
:
All of the following are examples of the perils of CRM
EXCEPT ________.

implementing CRM before creating a customer
strategy
the enormous cost that might eventually drain
significant profits from the organization
rolling out CRM before changing the
organization to match
assuming more CRM technology is better
stalking, not wooing, customers

Question 8. Question
:
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?
To deepen customer loyalty
To reactivate customer purchases
To avoid serious customer mistakes
To determine if up-selling is appropriate
To identify prospects

Question 9. Question
:
The ultimate goal of the customer-centered firm is ________.

high customer satisfaction
high profits
low costs
maximum stakeholder satisfaction
none of the above

Question 10. Question
:
Which of the following is considered to be one of the four
problems that can deter a firm from using CRM (customer relationship
marketing)?

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.

Question 11. Question
:
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 ________.

Student Answer: redesign your
company’s product
alter beliefs about your company’s brand
covertly alter the qualitative data about your
product
alter beliefs about competitors’ brands
call attention to neglected attributes

Question 12. Question
:
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.
data warehouse
call back list
call rejection list
corporate database
Better Business Bureau contacts

Question 13. Question
:
Most companies have learned that the ________ are often the
most profitable because of service expectations and their willingness to pay
almost full price.

large-size customers
midsize customers
small-size customers
niche customers
target market customers

Question 14. Question
:
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.

conjunctive
lexicographic
elimination-by-aspects
primary
secondary

Question 15. Question
:
People choose products that reflect and communicate their
role and actual or desired ________ in society.

:
group
status
attitudes
INCORRECT beliefs
feelings

Question 16. Question
:
The 20-80 rule reflects the idea that ________.

the top 20% of customers often generate 80% of
the company’s profits
the top 20% of customers are highly satisfied
and 80% of customers will recommend the company to a friend
20% of customers are unprofitable, and 80%
make up a company’s profits
20% of the company’s profits are generated by
the top 80% of customers
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

:

Question 17. Question
:
A customer touch point in the airline industry would include
an item such as ________.

reservations
mechanics’ ability to service the airplanes
ease of access to the airport
the value of air travel versus surface
transportation
competency of a travel agent

Question 18. Question
:
Steve has only 20 minutes to get lunch. Although he really
likes McDonald’s, the line is very long and he is concerned that he will not
have a chance to get through the line and eat his lunch before he is due back
at work. Steve perceives ________ in going to McDonald’s today.

time risk
functional risk
physical risk
psychological risk
social risk

Question 19. Question
:
Amy and Jack were loyal customers of GreenFoods, a local
grocery store. However, after a couple of incidents where they had to return
products that were stale and out of date, the couple decided to try out
VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack
must move through each stage in the marketing funnel before becoming loyal
customers.

Jack has shopped at VeggiesNmore. He was happy with the
experience and thought that this could be an alternative to GreenFoods.
However, he is also keen to try out other stores in the neighborhood. He is in
the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is
concerned.

aware
open to trial
most often used
nonrejecter
regular user

Question 20. Question
:
The ________ says people have a general tendency to
attribute success to themselves and failure to external causes.

availability heuristic
trait-role theory
awareness set
anchoring heuristic

CRM technology can help motivate employees by ________. analyzing customer revenue and cost data to
identify current and future high-value customers better targeting the company’s direct
marketing efforts tracking customer-service satisfaction levels aligning employee incentives and metrics developing new pricing models Question 2. Question
: Winning companies improve the value of their customer base
by excelling at each of the following strategies EXCEPT ________. retaining all customers regardless of
profitability reducing the rate of customer defection increasing the longevity of the customer
relationship making low-profit customers more profitable or
terminating them focusing disproportionate efforts on
high-value customers Question 3. Question
: 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 ________. reducing the rate of customer defection increasing the longevity of the customer
relationship enhancing the growth potential of each
customer through cross-selling making low-profit customers more profitable terminating low-profit customers Question 4. Question
: Which of the following would be the best illustration of a
subculture? A religion A group of close friends Your university A fraternity or sorority Your occupation : Question 5. Question
: All of the following are methods to form strong customer
bonds EXCEPT ________. creating superior products, services, and
experiences for the target market making it easy for customers to reach the
appropriate company personnel and express their needs, perceptions, and
complaints organizing and making accessible a database of
information on individual customer needs, preferences, contacts, purchase
frequency, and satisfaction running award programs recognizing outstanding
employees concentrating the planning and management of
the customer satisfaction and retention process within the marketing department Question 6. Question
: ________ is the difference between the prospective
customer’s evaluation of all the benefits and all the costs of an offering and
the perceived alternatives. Perceived usefulness Failure avoidance rate Report rating Customer-perceived value Competitors’ market share rate Question 7. Question
: All of the following are examples of the perils of CRM
EXCEPT ________. implementing CRM before creating a customer
strategy the enormous cost that might eventually drain
significant profits from the organization rolling out CRM before changing the
organization to match assuming more CRM technology is better stalking, not wooing, customers Question 8. Question
: 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? To deepen customer loyalty To reactivate customer purchases To avoid serious customer mistakes To determine if up-selling is appropriate To identify prospects Question 9. Question
: The ultimate goal of the customer-centered firm is ________. high customer satisfaction high profits low costs maximum stakeholder satisfaction none of the above Question 10. Question
: Which of the following is considered to be one of the four
problems that can deter a firm from using CRM (customer relationship
marketing)? 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. Question 11. Question
: 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 ________. Student Answer: redesign your
company’s product alter beliefs about your company’s brand covertly alter the qualitative data about your
product alter beliefs about competitors’ brands call attention to neglected attributes Question 12. Question
: 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. data warehouse call back list call rejection list corporate database Better Business Bureau contacts Question 13. Question
: Most companies have learned that the ________ are often the
most profitable because of service expectations and their willingness to pay
almost full price. large-size customers midsize customers small-size customers niche customers target market customers Question 14. Question
: 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. conjunctive lexicographic elimination-by-aspects primary secondary Question 15. Question
: People choose products that reflect and communicate their
role and actual or desired ________ in society. :
group status attitudes INCORRECT beliefs feelings Question 16. Question
: The 20-80 rule reflects the idea that ________. the top 20% of customers often generate 80% of
the company’s profits the top 20% of customers are highly satisfied
and 80% of customers will recommend the company to a friend 20% of customers are unprofitable, and 80%
make up a company’s profits 20% of the company’s profits are generated by
the top 80% of customers 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 : Question 17. Question
: A customer touch point in the airline industry would include
an item such as ________. reservations mechanics’ ability to service the airplanes ease of access to the airport the value of air travel versus surface
transportation competency of a travel agent Question 18. Question
: Steve has only 20 minutes to get lunch. Although he really
likes McDonald’s, the line is very long and he is concerned that he will not
have a chance to get through the line and eat his lunch before he is due back
at work. Steve perceives ________ in going to McDonald’s today. time risk functional risk physical risk psychological risk social risk Question 19. Question
: Amy and Jack were loyal customers of GreenFoods, a local
grocery store. However, after a couple of incidents where they had to return
products that were stale and out of date, the couple decided to try out
VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack
must move through each stage in the marketing funnel before becoming loyal
customers. Jack has shopped at VeggiesNmore. He was happy with the
experience and thought that this could be an alternative to GreenFoods.
However, he is also keen to try out other stores in the neighborhood. He is in
the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is
concerned. aware open to trial most often used nonrejecter regular user Question 20. Question
: The ________ says people have a general tendency to
attribute success to themselves and failure to external causes. availability heuristic trait-role theory awareness set anchoring heuristic

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