14 Aug Multiple Choice 1. ________ are adept at building customer relationships, not

Multiple Choice

1.
________ are adept at building customer relationships, not just products; they are skilled in market
engineering, not just product engineering.
a.
Profit-centered companies
b.
Customer-centered companies
c.
Production-centered companies
d.
Sales-centered companies
e.
Promotion-centered
companies

2.
The opening vignette on Washington Mutual indicates
that, as the Washington Mutual experience shows, successful marketers are the
ones that fully ________.
a.
understand promotional
strategy
b.
diversify their product line
c.
divorce themselves from a production mentality
d.
satisfy their customers
e.
understand the sales concept

3. In
the modern customer-oriented
organizational chart, which of the following is considered to be at the top of
the organizational pyramid?

Sales are
at the top of the organizational pyramid.
The
president is at the top of the organizational pyramid.
Front-line
people are at the top of the organizational pyramid.
Customers
are at the top of the organizational pyramid.
Middle
management, because of their importance,
is at the top of the organizational pyramid.

4. ________ is the difference between the prospective
customers evaluation of all the benefits and all the costs of an offering and
the perceived alternatives.
a. Perceived usefulness
b. Failure avoidance rate
c. Report rating
d. Customer perceived value
e. Competitors
market share rate

5. Total customer
value is the perceived monetary value of the bundle of economic,
functional, and ________ benefits customers expect from a given market
offering.
a. psychological
b. intangible
c. realized
d. fabricated
e. advertised

6. The bundle of costs customers expect to
incur in evaluating, obtaining, using, and disposing of the given market offering,
including monetary, time, energy,
and psychic costs is called the ________.
a. organizational expense ratio
b. shoppers fatigue
c. total customer cost
d. analysis paralysis
e. comparison
shopping to comparison buying ratio

7. In applying a customers perceived value to
a decision, a seller who is at a customer perceived value disadvantage has two
alternatives: to increase total customer value or ________.
a. increase a cash-back bonus
b. decrease cost
c. lose the sale to the competitor
d. advertise more
frequently
e. offer an extended warranty

8. The ________ consists of the whole cluster
of benefits the company promises to
deliver; it is more than the core
positioning of the offering.
a. customer promise
b. mission statement
c. corporate pledge
d. corporate perceived value
e. value proposition

9. Total customer satisfaction is measured
based on the relationship of ________.
a. anticipated and real performance
b. perceived performance and expectation
c. advertised outcomes and real outcomes
d. past experience and present experience
e. customer attitude and salespersons
attitude

10. Buyers form their expectations from all of
the following EXCEPT ________.
a. past buying experience
b. friends and associates advice
c. marketers information
d. competitors
information
e. governmental
newsletters

11. JetBlue is able to meet or exceed customer
expectations of low price air travel in part to a few corporate commandments
like: safety, caring, integrity, fun and passion. JetBlue refers to these as ________.
a. teamwork parables
b. values
c. satisfaction indices
d. customer focus statements
e. JetBlue benefits

12. A customers decision to be loyal or to
defect is the sum of many small encounters with the company.
Consulting firm Forum Corporation says that in order for all these small
encounters to add up to customer loyalty, companies
need to create ________.
a. a reward program
b. a comprehensive
customer database
c. a branded customer experience
d. strong word-of-mouth
promotions
e. a top-notch advertising campaign

13. One key to customer retention is ________.
It would be wise for a company to
measure this factor frequently.
a. heavy promotion
b. deep discounts for intermediaries
c. to have an ethics officer
d. customer satisfaction
e. to have customers on the board of directors

14. The best survey method to measure customer
satisfaction directly is ________.
a. to employ
a mystery shopper
b. the mailed questionnaire
c. to survey former customers
d. periodic surveys
e. compute
the customer loss rate

15. Which of the following firms leads its
industry with a number one ranking for customer satisfaction on the ACSI scale
(American Consumer Satisfaction Index) with a score of 87?
a. Cadillac
b. Ford
c. Chrysler
d. Chevrolet
e. Corvette

16. ________ is the totality of features and
characteristics of a product or service that bear on its ability to satisfy
stated or implied needs.
a. Performance
b. Value
c. Quality
d. Customer retention
e. Customer loyalty

17. Total quality is the key to value creation
and customer satisfaction. Marketing managers have two roles to play in a
quality-centered company. First,
they must participate in formulating strategies and policies to help the company win through total quality excellence. Second,
they must ________.
a. participate in cross-functional team
building
b. deliver marketing quality alongside
production quality
c. define customer requirements during the
innovation stage of the product life cycle
d. set expectations both internally and
externally
e. work closely with the sales team to create
a dynamic sales message

18. ________ is an organization-wide approach
to continuously improving the
quality of all the organizations processes, products, and services.
a. Total quality management
b. Strategic management
c. Profit-centered management
d. Customer-retention management
e. Total customer control management

19. The 20-80-30 rules reflects the idea that ________.
a. the top 20 percent of customers generate 80
percent of the companys profits,
half of which are lost serving the bottom 30 percent of unprofitable customers
b. the top 20 percent of customers are highly
satisfied, 80 percent of customers will recommend the company
to a friend, and 30 percent are unsatisfied
c. 20 percent of customers are unprofitable,
80 percent of customers make up 30 percent of a companys
profits
d. 20 percent of the companys
profits are generated by 80 percent of customers, and 30 percent of customers
are satisfied
e. any new product offering will be accepted
by 20 percent of the customers immediately, this figure will eventually rise to
30 percent, however, 80 percent of the customers will be up for grabs
throughout the product life cycle for the product

20. Most companies
have learned that the ________ are the most
profitable because of service expectations and their willingness to pay almost full price for the products they purchase.
a. large-size customers
b. midsize customers
c. small-size customers
d. niche customers
e. target market customers
21. A ________ customer is a person, household,
or company that over time yields a
revenue stream that exceeds by an acceptable amount
the companys cost stream of
attracting, selling, and servicing that customer.
a. profitable
b. semi-profitable
c. unprofitable
d. niche
e. target

22. Customer profitability analysis (CPA) is best
conducted with the tools of an accounting technique called ________.
a. input-output analysis
b. factor analysis
c. Revenue-Based Costing (RBC)
d. Activity-Based Costing (ABC)
e. Future Date Costing (FDC)

23. Which of the following is the best example of what is called a leverageable advantage?
a. Dell avoiding selling its products in
retail stores.
b. Apple winning design awards and producing
unique commercials.
c. Microsofts use of its operating system to
Microsoft Office as a means to supply networking applications.
d. Southwest Airlines
winning the J.D. Power award.
e. American tobacco companies
attempts to diversify their holdings
after the famous tobacco case
losses.

24. Taco Bell
has determined that keeping customers satisfied can be very profitable. A
repeat customer in Taco Bells eyes can be worth as much as ________ over the
customers lifetime.
a. $100,000
b. $61,000
c. $35,000
d. $11,000
e. $2,000

25. The aim of customer relationship management
(CRM) is to produce high customer ________.
a. value
b. loyalty
c. profitability
d. satisfaction
e. equity1.
________ are adept at building customer relationships, not just products; they are skilled in market
engineering, not just product engineering.a.
Profit-centered companiesb.
Customer-centered companiesc.
Production-centered companiesd.
Sales-centered companiese.
Promotion-centered
companies 2.
The opening vignette on Washington Mutual indicates
that, as the Washington Mutual experience shows, successful marketers are the
ones that fully ________. a.
understand promotional
strategyb.
diversify their product linec.
divorce themselves from a production mentalityd.
satisfy their customerse.
understand the sales concept 3. In
the modern customer-oriented
organizational chart, which of the following is considered to be at the top of
the organizational pyramid? 4. ________ is the difference between the prospective
customers evaluation of all the benefits and all the costs of an offering and
the perceived alternatives.a. Perceived usefulnessb. Failure avoidance ratec. Report ratingd. Customer perceived valuee. Competitors
market share rate 5. Total customer
value is the perceived monetary value of the bundle of economic,
functional, and ________ benefits customers expect from a given market
offering.a. psychologicalb. intangiblec. realizedd. fabricatede. advertised 6. The bundle of costs customers expect to
incur in evaluating, obtaining, using, and disposing of the given market offering,
including monetary, time, energy,
and psychic costs is called the ________.a. organizational expense ratiob. shoppers fatiguec. total customer costd. analysis paralysise. comparison
shopping to comparison buying ratio 7. In applying a customers perceived value to
a decision, a seller who is at a customer perceived value disadvantage has two
alternatives: to increase total customer value or ________.a. increase a cash-back bonusb. decrease costc. lose the sale to the competitord. advertise more
frequentlye. offer an extended warranty 8. The ________ consists of the whole cluster
of benefits the company promises to
deliver; it is more than the core
positioning of the offering. a. customer promiseb. mission statementc. corporate pledged. corporate perceived valuee. value proposition 9. Total customer satisfaction is measured
based on the relationship of ________. a. anticipated and real performanceb. perceived performance and expectationc. advertised outcomes and real outcomesd. past experience and present experiencee. customer attitude and salespersons
attitude 10. Buyers form their expectations from all of
the following EXCEPT ________.a. past buying experienceb. friends and associates advicec. marketers informationd. competitors
informatione. governmental
newsletters 11. JetBlue is able to meet or exceed customer
expectations of low price air travel in part to a few corporate commandments
like: safety, caring, integrity, fun and passion. JetBlue refers to these as ________.a. teamwork parablesb. valuesc. satisfaction indices d. customer focus statementse. JetBlue benefits 12. A customers decision to be loyal or to
defect is the sum of many small encounters with the company.
Consulting firm Forum Corporation says that in order for all these small
encounters to add up to customer loyalty, companies
need to create ________.a. a reward programb. a comprehensive
customer databasec. a branded customer experienced. strong word-of-mouth
promotionse. a top-notch advertising campaign 13. One key to customer retention is ________.
It would be wise for a company to
measure this factor frequently. a. heavy promotionb. deep discounts for intermediariesc. to have an ethics officerd. customer satisfactione. to have customers on the board of directors 14. The best survey method to measure customer
satisfaction directly is ________.a. to employ
a mystery shopperb. the mailed questionnairec. to survey former customersd. periodic surveyse. compute
the customer loss rate15. Which of the following firms leads its
industry with a number one ranking for customer satisfaction on the ACSI scale
(American Consumer Satisfaction Index) with a score of 87? a. Cadillac b. Fordc. Chryslerd. Chevrolete. Corvette 16. ________ is the totality of features and
characteristics of a product or service that bear on its ability to satisfy
stated or implied needs. a. Performanceb. Valuec. Qualityd. Customer retentione. Customer loyalty17. Total quality is the key to value creation
and customer satisfaction. Marketing managers have two roles to play in a
quality-centered company. First,
they must participate in formulating strategies and policies to help the company win through total quality excellence. Second,
they must ________.a. participate in cross-functional team
buildingb. deliver marketing quality alongside
production qualityc. define customer requirements during the
innovation stage of the product life cycled. set expectations both internally and
externallye. work closely with the sales team to create
a dynamic sales message 18. ________ is an organization-wide approach
to continuously improving the
quality of all the organizations processes, products, and services. a. Total quality managementb. Strategic managementc. Profit-centered managementd. Customer-retention management e. Total customer control management 19. The 20-80-30 rules reflects the idea that ________.a. the top 20 percent of customers generate 80
percent of the companys profits,
half of which are lost serving the bottom 30 percent of unprofitable customersb. the top 20 percent of customers are highly
satisfied, 80 percent of customers will recommend the company
to a friend, and 30 percent are unsatisfiedc. 20 percent of customers are unprofitable,
80 percent of customers make up 30 percent of a companys
profitsd. 20 percent of the companys
profits are generated by 80 percent of customers, and 30 percent of customers
are satisfiede. any new product offering will be accepted
by 20 percent of the customers immediately, this figure will eventually rise to
30 percent, however, 80 percent of the customers will be up for grabs
throughout the product life cycle for the product 20. Most companies
have learned that the ________ are the most
profitable because of service expectations and their willingness to pay almost full price for the products they purchase. a. large-size customersb. midsize customersc. small-size customersd. niche customerse. target market customers21. A ________ customer is a person, household,
or company that over time yields a
revenue stream that exceeds by an acceptable amount
the companys cost stream of
attracting, selling, and servicing that customer. a. profitable b. semi-profitable c. unprofitable d. nichee. target 22. Customer profitability analysis (CPA) is best
conducted with the tools of an accounting technique called ________. a. input-output analysisb. factor analysisc. Revenue-Based Costing (RBC)d. Activity-Based Costing (ABC)e. Future Date Costing (FDC) 23. Which of the following is the best example of what is called a leverageable advantage? a. Dell avoiding selling its products in
retail stores.b. Apple winning design awards and producing
unique commercials. c. Microsofts use of its operating system to
Microsoft Office as a means to supply networking applications. d. Southwest Airlines
winning the J.D. Power award.e. American tobacco companies
attempts to diversify their holdings
after the famous tobacco case
losses. 24. Taco Bell
has determined that keeping customers satisfied can be very profitable. A
repeat customer in Taco Bells eyes can be worth as much as ________ over the
customers lifetime. a. $100,000 b. $61,000 c. $35,000 d. $11,000e. $2,000 25. The aim of customer relationship management
(CRM) is to produce high customer ________.a. valueb. loyaltyc. profitabilityd. satisfactione. equity

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