Question 1

Match the term with its definition
-An interaction between a business and its customers

Accepted Answer

A) 80/20 principle 
B) customer database 
C) customer segmentation strategy 
D) evaluative criteria 
E) evoked set
F)post-purchase dissonance
G)recency-frequency-monetary analysis
H)social classes
I)touch point
J)transactional relationship 
A) 80/20 principle 
B) customer database 
C) customer segmentation strategy 
D) evaluative criteria 
E) evoked set
F)post-purchase dissonance
G)recency-frequency-monetary analysis
H)social classes
I)touch point
J)transactional relationship

Question 2

Consumer needs can be completely satisfied by proper customer relationship management.

Accepted Answer

A) True 
 B)False

Question 3

Juan's belief that all low-calorie sodas taste awful is an example of

Accepted Answer

A)  cognitive dissonance. 
B)  the elimination of an item in an evoked set. 
C)  perceptual categorization. 
D)  unilateral indifference. 
A)  cognitive dissonance. 
B)  the elimination of an item in an evoked set. 
C)  perceptual categorization. 
D)  unilateral indifference.

Question 4

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

Accepted Answer

A)  referral group. 
B)  reference group. 
C)  perceptual group. 
D)  associate group. 
A)  referral group. 
B)  reference group. 
C)  perceptual group. 
D)  associate group.

Question 5

Being closer to their customers allows small business owners to avoid _____, which large firms typically experience as a result of their multiple layers of management.

Accepted Answer

A)  complaints on social media 
B)  distorted complaints 
C)  anonymous complaints 
D)  information distortion 
A)  complaints on social media 
B)  distorted complaints 
C)  anonymous complaints 
D)  information distortion

Question 6

Match the term with its definition
-An association between a business and a customer that begins (or ends) with a purchase or a business deal

Accepted Answer

A) 80/20 principle 
B) customer database 
C) customer segmentation strategy 
D) evaluative criteria 
E) evoked set
F)post-purchase dissonance
G)recency-frequency-monetary analysis
H)social classes
I)touch point
J)transactional relationship 
A) 80/20 principle 
B) customer database 
C) customer segmentation strategy 
D) evaluative criteria 
E) evoked set
F)post-purchase dissonance
G)recency-frequency-monetary analysis
H)social classes
I)touch point
J)transactional relationship

Question 7

Regardless of the nature of the business, small firms can gain a competitive edge by providing exceptional customer service.

Accepted Answer

A) True 
 B)False

Question 8

The ability to enjoy one-on-one contact with customers has always been a competitive advantage for large firms.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A)  post-purchase dissonance. 
B)  post-purchase satisfaction. 
C)  cognitive dissonance. 
D)  post-decisional distress. 
A)  post-purchase dissonance. 
B)  post-purchase satisfaction. 
C)  cognitive dissonance. 
D)  post-decisional distress.

Question 11

Marketers create needs that offer unique motivations to consumers.

Accepted Answer

A) True 
 B)False

Question 12

The reason that a group of uniformed people walking down the street playing musical instruments is recognized as a band is the result of

Accepted Answer

A)  characteristic profiling. 
B)  evaluative criteria. 
C)  perceptual categorization. 
D)  problem recognition. 
A)  characteristic profiling. 
B)  evaluative criteria. 
C)  perceptual categorization. 
D)  problem recognition.

Question 13

List and briefly describe some approaches to improving the effectiveness of customer service efforts.

Accepted Answer

Establishing an effective customer servi

Question 14

Match the term with its definition.
-Goal-oriented forces that organize and give direction to the tension caused by unsatisfied needs

Accepted Answer

A) attitude 
B) culture 
C) customer experience management (CEM) 
D) customer lifetime value (CLV) 
E) customer relationship management (CRM)
F)motivations
G)needs
H)opinion leaders
I)perception
J)perceptual categorization
K)reference groups 
A) attitude 
B) culture 
C) customer experience management (CEM) 
D) customer lifetime value (CLV) 
E) customer relationship management (CRM)
F)motivations
G)needs
H)opinion leaders
I)perception
J)perceptual categorization
K)reference groups

Question 15

An evoked set is a group of brands that a consumer is both aware of and willing to consider as a solution to a purchase problem.

Accepted Answer

A) True 
 B)False

Question 16

Freida used a discount coupon to purchase a new product. In which of the following categories of the customer profile should this be recorded?

Accepted Answer

A)  Personal information 
B)  Lifestyle and psychographic data 
C)  Profile of past responses 
D)  Transaction data 
A)  Personal information 
B)  Lifestyle and psychographic data 
C)  Profile of past responses 
D)  Transaction data

Question 17

Match the term with its definition
-A group of brands that a consumer is both aware of and willing to consider as a solution to a purchase need

Accepted Answer

A) 80/20 principle 
B) customer database 
C) customer segmentation strategy 
D) evaluative criteria 
E) evoked set
F)post-purchase dissonance
G)recency-frequency-monetary analysis
H)social classes
I)touch point
J)transactional relationship 
A) 80/20 principle 
B) customer database 
C) customer segmentation strategy 
D) evaluative criteria 
E) evoked set
F)post-purchase dissonance
G)recency-frequency-monetary analysis
H)social classes
I)touch point
J)transactional relationship

Question 18

Although consumer needs are innumerable, they can be identified as falling into all of the following categories EXCEPT

Accepted Answer

A)  motivational. 
B)  spiritual. 
C)  physiological. 
D)  social. 
A)  motivational. 
B)  spiritual. 
C)  physiological. 
D)  social.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Match the term with its definition.
-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

Accepted Answer

A) attitude 
B) culture 
C) customer experience management (CEM) 
D) customer lifetime value (CLV) 
E) customer relationship management (CRM)
F)motivations
G)needs
H)opinion leaders
I)perception
J)perceptual categorization
K)reference groups 
A) attitude 
B) culture 
C) customer experience management (CEM) 
D) customer lifetime value (CLV) 
E) customer relationship management (CRM)
F)motivations
G)needs
H)opinion leaders
I)perception
J)perceptual categorization
K)reference groups

Exam 14: Building Customer Relationships

Match the term with its definition -An interaction between a business and its customers

Consumer needs can be completely satisfied by proper customer relationship management.

Juan's belief that all low-calorie sodas taste awful is an example of

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

Being closer to their customers allows small business owners to avoid _____, which large firms typically experience as a result of their multiple layers of management.

Match the term with its definition -An association between a business and a customer that begins (or ends) with a purchase or a business deal

Regardless of the nature of the business, small firms can gain a competitive edge by providing exceptional customer service.

The ability to enjoy one-on-one contact with customers has always been a competitive advantage for large firms.

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

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

Marketers create needs that offer unique motivations to consumers.

The reason that a group of uniformed people walking down the street playing musical instruments is recognized as a band is the result of

List and briefly describe some approaches to improving the effectiveness of customer service efforts.

Match the term with its definition. -Goal-oriented forces that organize and give direction to the tension caused by unsatisfied needs

An evoked set is a group of brands that a consumer is both aware of and willing to consider as a solution to a purchase problem.

Freida used a discount coupon to purchase a new product. In which of the following categories of the customer profile should this be recorded?

Match the term with its definition -A group of brands that a consumer is both aware of and willing to consider as a solution to a purchase need

Although consumer needs are innumerable, they can be identified as falling into all of the following categories EXCEPT

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. -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

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, Ethics, and Social Entrepreneurship

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Businesses

Professional Management and the Small Business

Managing Human Resources

Managing Small Business Operations

Managing the Firms Assets

Managing Risk

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