14 Aug Module 2 : The Customer – Quiz 2 1.Winning companies improve the value o

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 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

2.The aim of
customer relationship management (CRM) is to produce high customer
________. (Points : 5)

value
loyalty
profitability
satisfaction
equity

3.A customer touch
point in the airline industry would include an item such as ________.
(Points : 5)

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

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)

conjunctive
lexicographic
elimination-by-aspects
primary
secondary

5.CRM technology
can help motivate employees by ________. (Points : 5)

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

6.All of the
following are methods to form strong customer bonds EXCEPT ________.
(Points : 5)

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

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 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

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
usefulness
Failure avoidance
rate
Report rating
Customer-perceived
value
Competitors’ 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 management
Data marketing
Target market
analysis
Data accumulation
Datamining

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 vendor
none will do
business with the company again
customers whose
complaints are satisfactorily resolved spread more word of mouth than those
who continue to be dissatisfied
the speed of
resolution has no impact on the likelihood of repeat business
between
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
customers
midsize customers
small-size
customers
niche customers
target 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 shoppers
survey data from
customers who have defected
market research
into overall consumption trends
individual account
information
demographic 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 warehouse
call back list
call rejection list
corporate database
Better Business
Bureau contacts

15.The ________ says
people have a general tendency to attribute success to themselves and
failure to external causes. (Points : 5)

availability
heuristic
trait-role theory
awareness set
anchoring heuristic
hedonic bias

16.All of the
following are examples of the perils of CRM EXCEPT ________. (Points : 5)

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

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-concept
ideal self-concept
others’
self-concept
prohibitive
self-concept
suggestive
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 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

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)

profitable
semiprofitable
unprofitable
niche
target

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 limited
somewhat limited
fluid
often reflective
extremely durable

Module
2 : The Customer – Quiz 21.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 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

2.The aim of
customer relationship management (CRM) is to produce high customer
________. (Points : 5) value
loyalty
profitability
satisfaction
equity

3.A customer touch
point in the airline industry would include an item such as ________.
(Points : 5) 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

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) conjunctive
lexicographic
elimination-by-aspects
primary
secondary

5.CRM technology
can help motivate employees by ________. (Points : 5) 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

6.All of the
following are methods to form strong customer bonds EXCEPT ________.
(Points : 5) 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

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 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

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
usefulness
Failure avoidance
rate
Report rating
Customer-perceived
value
Competitors’ 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 management
Data marketing
Target market
analysis
Data accumulation
Datamining

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 vendor
none will do
business with the company again
customers whose
complaints are satisfactorily resolved spread more word of mouth than those
who continue to be dissatisfied
the speed of
resolution has no impact on the likelihood of repeat business
between
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
customers
midsize customers
small-size
customers
niche customers
target 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 shoppers
survey data from
customers who have defected
market research
into overall consumption trends
individual account
information
demographic 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 warehouse
call back list
call rejection list
corporate database
Better Business
Bureau contacts

15.The ________ says
people have a general tendency to attribute success to themselves and
failure to external causes. (Points : 5) availability
heuristic
trait-role theory
awareness set
anchoring heuristic
hedonic bias

16.All of the
following are examples of the perils of CRM EXCEPT ________. (Points : 5) 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

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-concept
ideal self-concept
others’
self-concept
prohibitive
self-concept
suggestive
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 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

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) profitable
semiprofitable
unprofitable
niche
target

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 limited
somewhat limited
fluid
often reflective
extremely durable

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