Exam 14: Building Customer Relationships

Match the term with its definition a.80/20 Principle b.Customer database c.Customer segmentation strategy d.Evaluative criteria e.Evoked set f.Perception g.Perceptual categorization h.Post-purchase dissonance i.Recency-frequency-monetary analysis j.Touch point k.Transactional relationship -A principle that maintains that 80 percent of a company's sales will come from 20 percent of its customers

CRM software programs

Educational level is the most single determinant of social class.

In general,opinion leaders are considered to be knowledgeable,visible,and exposed in mass media.

In some situaitons,a small business owner will have to influence need recognition;in others he may simply be able to react to needs the consumer has indentified.

Individual processes that ultimately give meaning to stimuli that confront consumers are known as

A consumer's recognition of a problem can be characterized as routine if the problem evolves over time.

June has always believed that the resale furniture store doesn't have quality furniture as it has been used by others.This _____ may cause her to avoid the store and shop at a store specializing in new furniture across town.

To establish an effective customer service program,what should be completed first?

The dress looked so cute in the store window,but after she brought it home,Victoria began having second thoughts about her purchase.Victoria is experiencing:

Match the term with its definition. a.Attitude b.Culture c.Customer experience management d.Customer Lifetime Value e.Customer relationship management f.Motivations g.Needs h.Opinion leader i.Perception j.Perceptual categorization k.Reference group l.Social classes -A group member who plays a key communication role

Match the term with its definition. a.Attitude b.Culture c.Customer experience management d.Customer Lifetime Value e.Customer relationship management f.Motivations g.Needs h.Opinion leader i.Perception j.Perceptual categorization k.Reference group l.Social classes -A company-wide business strategy designed to optimize profitability,revenue,and customer satisfaction by focusing on specific customer groups

Only three classes of needs-social,psychological,and spiritual- can be connected to behavior through motivations.

In what stage of the consumer decision making process is Josh when he becomes concerned whether his friends will enjoy the video game he downloaded?

Lack of in-house expertise is a major justification for using outside CRM services.

A customer complaint can be positive.

Attitudes have an indirect impact on consumer behavior.

Regina is so satisfied with her pharmacist that she refers her friends and colleagues,providing a(n)_______ benefit of maintaining relationships with current customers.

When Sarah decided to make an offer on a house,this action illustrated she is in the _____ stage of the consumer decision making process.

Erin often shops at a retail store where her friends shop because of her desire to be affiliated with the group.The friends are exerting ______ power over Erin.