Exam 14: Building Customer Relationships

A basic idea forming the foundation of customer loyalty for small firms includes the notion that

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 -Behavioral patterns and values that characterize a group of consumers in a target market

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 -An analysis that reveals customers most likely to buy from a firm in the future because they have made purchases recently,frequently,and in amounts that exceed some established minimum

A transactional relationship is an association between a business and a customer that begins or ends with a purchase or a business exchange.

Molly has had repeated positive experiences with her local coffee shop.They suggest new flavors,call her by her first name,and donate to a local charity that Molly supports.Molly's experiences,as a result,contribute to the firm's CRM _______.

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 -The starting point for all behavior

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 -Divisions within a society having different levels of social prestige

Post-purchase dissonance has been shown to be unrelated to customer satisfaction because it occurs after customers have satisfied their needs.

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 -An approach that recognizes that,with every interaction,customers learn something about a company that will affect their desire to do business there in the future

Because culture drastically affects the behavior patterns and values of people,it has tremendous impact on the purchase and use of products.

Attitudes are forces that organize and give direction to the tension caused by unsatisfied needs.

A marketer must determine which motivations the consumer will perceive as acceptable to satisfy a need in a given situation.

Billy admires firemen.He wants to dress like them,wear a fireman's hat,and pretend to put out fires.For Billy,firemen are:

Attending a prayer breakfast is most likely an attempt to satisfy which category of need?

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 -The process of grouping things that are perceived as being similar

In the information search and evaluation stage,the firm's principal objective is to gain market awareness.

In general,a person can be an opinion leader even if he or she is not

Information taken from warranty cards would be stored in which category of a customer profile?

Mandy is shopping for a new car.She is visiting a privately owned lot in her hometown and describes to Jane,the salesperson,that she wants a four-door sedan with high fuel economy and a leather interior.Jane then shows her three cars that she thinks may fit Mandy's preferences.What stage of the decision making process is Mandy in and what should Jane understand about Mandy's search to complete the sale?

Economic benefits associated with maintaining relationships with current customers include: