14 Aug 1. The three drivers of customer equity are: value equity, brand equity, and ___

1. The three drivers of customer equity are:
value equity, brand equity, and ________ equity.
a. relationship
b. revenue
c. quality
d. price
e. product

2. Sub-drivers of relationship equity include
all of the following EXCEPT ________.
a. loyalty programs
b. special recognition and treatment programs
c. community building programs
d. knowledge-building programs
e. price protection programs

3. An alternative formulation to customer
equity is provided by Blattberg, Getz, and Thomas. They view customer equity as
being driven by three components:
acquisition, ________, and add-on selling.
a. satisfaction
b. retention
c. perceived value
d. quality
e. pricing

4. ________ is seen as the cumulative value of
the firms network of relationships
with its customers, partners, suppliers, employers,
and investors.
a. Responsive equity
b. Market equity
c. Relational equity
d. Strategic equity
e. Satisfaction equity

5. The ability of a company
to meet each customers requirementsto prepare on a mass basis individually
designed products, services, programs, and communications, is referred to as ________.
a. proactive customer service
b. individualization
c. mass customization
d. competitive
advantage
e. target market customization
6. A customer touch point in the airline industry would include an item such as ________.
a. reservations
b. mechanics ability to service the airplanes
c. ease of access to the airport
d. the value of air travel versus surface
transportation
e. competency
of a travel agent

7. All of the following would be among the Peppers and Rogerss four-step framework for one-to-one
marketing that can be adapted to CRM marketing EXCEPT ________.
a. customizing products, services, and
messages to each customer
b. interacting with individual customers to
learn their needs
c. always offering the lowest price
d. differentiating customers in terms of their
needs and value to the company
e. identify your prospects and customers
8. Winning companies
improve the value of their customer
base by excelling at strategies listed below EXCEPT ________.
a. eliminating low-profit customers
immediately
b. reducing the rate of customer defection
c. increasing the longevity of the customer
relationship
d. making low-profit customers more profitable or terminating them
e. focusing disproportionate efforts on
high-value customers

9. Which of the following is a characteristic
of one-to-one marketing?
a. Mass promotion
b. Standard product
c. Two-way messages
d. Share of market
e. Customer attraction

10. Another term for high customer ________ is customer
churn.
a. retention
b. defection
c. value
d. perception
e. belief

11. Markets can be characterized by their
long-term buying dynamics and how easily and often customers can enter and
leave. In ________, customers can leave and come back.
a. permanent capture markets
b. simple
retention markets
c. advocate markets
d. simple
competitive markets
e. customer migration markets

12. In ________ marketing, the salesperson
contacts the customer from time to time with suggestions about improved product uses or new products.
a. accountable marketing
b. proactive marketing
c. reactive marketing
d. partnership marketing
e. basic marketing

13. Most companys
practice only ________ when their markets contain many customers and their unit
profit margin(s) are small.
a. reactive marketing
b. partnership marketing
c. basic marketing
d. proactive marketing
e. accountable marketing

14. In markets with few customers and high
profit margins, most sellers will move toward ________ marketing.
a. reactive marketing
b. partnership marketing
c. basic marketing
d. proactive marketing
e. accountable marketing

15. The CRM (customer relationship management)
imperative is characterized by five
steps or factors. All of the
following would be among those steps or factors 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

16. 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

17. Frequency marketing is an acknowledgment of
the fact that 20 percent of a companys
customers might account for ________ percent of its business.
a. 50
b. 70
c. 40
d. 80
e. 90

18. Companies
who try to increase a customers likelihood to repurchase a product may try to
create long-term contracts, turn the product into a long-term service, and ________.
a. send frequent surveys
b. offer coupons
c. charge lower prices to customers who
purchase large supplies
d. request the customer join their loyalty
program
e. encourage customers to purchase in greater
frequency

19. 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 markets

20. 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

21. 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

22. A customer database should contain all of
the following EXCEPT ________.
a. a customers past purchases
b.
demographics
c.
psychographics
d.
mediagraphics
e.
an assessment of competitive strengths and weaknesses

23. A ________ would contain such items as past
volumes, prices, profits, buyer team names, 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

24. 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
25. James Everett is a telemarketer. He can use
his companys ________ to respond to
customer inquiries more effectively
because of his ability to 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 1. The three drivers of customer equity are:
value equity, brand equity, and ________ equity.a. relationshipb. revenuec. qualityd. pricee. product 2. Sub-drivers of relationship equity include
all of the following EXCEPT ________. a. loyalty programsb. special recognition and treatment programsc. community building programsd. knowledge-building programse. price protection programs 3. An alternative formulation to customer
equity is provided by Blattberg, Getz, and Thomas. They view customer equity as
being driven by three components:
acquisition, ________, and add-on selling.a. satisfactionb. retentionc. perceived valued. qualitye. pricing 4. ________ is seen as the cumulative value of
the firms network of relationships
with its customers, partners, suppliers, employers,
and investors.a. Responsive equityb. Market equityc. Relational equityd. Strategic equitye. Satisfaction equity 5. The ability of a company
to meet each customers requirementsto prepare on a mass basis individually
designed products, services, programs, and communications, is referred to as ________.a. proactive customer serviceb. individualizationc. mass customizationd. competitive
advantagee. target market customization6. A customer touch point in the airline industry would include an item such as ________.a. reservationsb. mechanics ability to service the airplanesc. ease of access to the airportd. the value of air travel versus surface
transportatione. competency
of a travel agent 7. All of the following would be among the Peppers and Rogerss four-step framework for one-to-one
marketing that can be adapted to CRM marketing EXCEPT ________. a. customizing products, services, and
messages to each customerb. interacting with individual customers to
learn their needsc. always offering the lowest priced. differentiating customers in terms of their
needs and value to the companye. identify your prospects and customers8. Winning companies
improve the value of their customer
base by excelling at strategies listed below EXCEPT ________. a. eliminating low-profit customers
immediatelyb. reducing the rate of customer defectionc. increasing the longevity of the customer
relationshipd. making low-profit customers more profitable or terminating theme. focusing disproportionate efforts on
high-value customers9. Which of the following is a characteristic
of one-to-one marketing? a. Mass promotionb. Standard productc. Two-way messagesd. Share of markete. Customer attraction 10. Another term for high customer ________ is customer
churn.a. retentionb. defectionc. valued. perceptione. belief 11. Markets can be characterized by their
long-term buying dynamics and how easily and often customers can enter and
leave. In ________, customers can leave and come back. a. permanent capture marketsb. simple
retention marketsc. advocate marketsd. simple
competitive marketse. customer migration markets 12. In ________ marketing, the salesperson
contacts the customer from time to time with suggestions about improved product uses or new products. a. accountable marketingb. proactive marketingc. reactive marketingd. partnership marketinge. basic marketing 13. Most companys
practice only ________ when their markets contain many customers and their unit
profit margin(s) are small.a. reactive marketingb. partnership marketingc. basic marketingd. proactive marketinge. accountable marketing 14. In markets with few customers and high
profit margins, most sellers will move toward ________ marketing.a. reactive marketingb. partnership marketingc. basic marketingd. proactive marketinge. accountable marketing 15. The CRM (customer relationship management)
imperative is characterized by five
steps or factors. All of the
following would be among those steps or factors EXCEPT ________. a. acquiring the right customerb. crafting the right value propositionc. instituting the best processesd. motivating employeese. learning to make profits through marginal
customers16. When companies
provide rewards to customers who buy frequently and in substantial amounts, this is referred to as ________.a. benefit programsb. frequency programsc. satisfaction programsd. loyalty programse. quality programs 17. Frequency marketing is an acknowledgment of
the fact that 20 percent of a companys
customers might account for ________ percent of its business.a. 50b. 70c. 40d. 80e. 90 18. Companies
who try to increase a customers likelihood to repurchase a product may try to
create long-term contracts, turn the product into a long-term service, and ________.a. send frequent surveysb. offer couponsc. charge lower prices to customers who
purchase large suppliesd. request the customer join their loyalty
programe. encourage customers to purchase in greater
frequency 19. 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 databaseb. a customer mail listc. target market segmentsd. customer segmentse. relationship markets 20. 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 warehousingb.
dataminingc.
database marketingd.
custom marketinge.
electronic marketing 21. A _____________ is simply
a set of names, addresses, and telephone numbers. a. customer databaseb. customer mailing listc. call-waiting listd. psychographic liste. demographic
list 22. A customer database should contain all of
the following EXCEPT ________. a. a customers past purchasesb.
demographicsc.
psychographicsd.
mediagraphicse.
an assessment of competitive strengths and weaknesses 23. A ________ would contain such items as past
volumes, prices, profits, buyer team names, status of current contacts, and an
assessment of competitive strengths
and weaknesses. a. customer mailing listb. contact listc. customer databased. business databasee. general corporate database 24. 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 purchaseb. an online queryc. a mail-in rebate cardd. an ad run on a national television networke. a customer-requested service call25. James Everett is a telemarketer. He can use
his companys ________ to respond to
customer inquiries more effectively
because of his ability to see a total picture of the customer relationship. a. data warehouseb. call back listc. call rejection listd. corporate databasee. Better Business Bureau contacts

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