Question 1

Match the term with its definition.
-Small groups that an individual allows to influence his or her behavior

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 2

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

Accepted Answer

A)  reference groups. 
B)  cultures. 
C)  social classes. 
D)  perceptual categories. 
A)  reference groups. 
B)  cultures. 
C)  social classes. 
D)  perceptual categories.

Question 3

When Sarah decided to make an offer on a house, she was in the _____ stage of the consumer decision-making process.

Accepted Answer

A)  information search and evaluation 
B)  need recognition 
C)  post-purchase evaluation 
D)  purchase decision 
A)  information search and evaluation 
B)  need recognition 
C)  post-purchase evaluation 
D)  purchase decision

Question 4

Customer relationship management means different things to different businesses.

Accepted Answer

A) True 
 B)False

Question 5

As an owner of a floral design business, Tim's highest priority for the florist's CRM program should be

Accepted Answer

A)  marketing efforts to bring in customers who haven't bought flowers recently. 
B)  finding the right computer software for an online floral ordering program. 
C)  determining if existing customers are satisfied with past floral arrangements. 
D)  identifying how often customers will purchase flowers. 
A)  marketing efforts to bring in customers who haven't bought flowers recently. 
B)  finding the right computer software for an online floral ordering program. 
C)  determining if existing customers are satisfied with past floral arrangements. 
D)  identifying how often customers will purchase flowers.

Question 6

Bob never purchases bottled water when he is thirsty even if it is available. This behavior indicates that bottled water

Accepted Answer

A)  does not meet Bob's evaluative criteria. 
B)  increases Bob's cognitive dissonance. 
C)  is not included in Bob's evoked set. 
D)  decreases Bob's perceptual categorization. 
A)  does not meet Bob's evaluative criteria. 
B)  increases Bob's cognitive dissonance. 
C)  is not included in Bob's evoked set. 
D)  decreases Bob's perceptual categorization.

Question 7

Educational level is the single most important determinant of social class.

Accepted Answer

A) True 
 B)False

Question 8

Match the term with its definition
-A principle that maintains that 80 percent of a company's sales will come from 20 percent of 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 9

CRM software programs are often implemented into _____ first since this area of a company typically generates the greatest amount of customer contact.

Accepted Answer

A)  data management departments 
B)  sales departments 
C)  personnel departments 
D)  customer service departments 
A)  data management departments 
B)  sales departments 
C)  personnel departments 
D)  customer service departments

Question 10

Match the term with its definition.
-A group member who plays a key communication role

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 11

In some situations, a small business owner will have to influence need recognition; in others, he or she may simply be able to react to needs that consumers have identified on their own.

Accepted Answer

A) True 
 B)False

Question 12

Match the term with its definition
-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

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 13

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

Accepted Answer

A)  knowledgeable. 
B)  visible. 
C)  exposed to the mass media. 
D)  nationally known. 
A)  knowledgeable. 
B)  visible. 
C)  exposed to the mass media. 
D)  nationally known.

Question 14

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

Accepted Answer

A) True 
 B)False

Match the term with its definition. -Small groups that an individual allows to influence his or her behavior

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

When Sarah decided to make an offer on a house, she was in the _____ stage of the consumer decision-making process.

Customer relationship management means different things to different businesses.

As an owner of a floral design business, Tim's highest priority for the florist's CRM program should be

Bob never purchases bottled water when he is thirsty even if it is available. This behavior indicates that bottled water

Educational level is the single most important determinant of social class.

Match the term with its definition -A principle that maintains that 80 percent of a company's sales will come from 20 percent of its customers

CRM software programs are often implemented into _____ first since this area of a company typically generates the greatest amount of customer contact.

Match the term with its definition. -A group member who plays a key communication role

In some situations, a small business owner will have to influence need recognition; in others, he or she may simply be able to react to needs that consumers have identified on their own.

Match the term with its definition -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

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

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

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

Filters

Exam 14: Building Customer Relationships

Match the term with its definition. -Small groups that an individual allows to influence his or her behavior

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

When Sarah decided to make an offer on a house, she was in the _____ stage of the consumer decision-making process.

Customer relationship management means different things to different businesses.

As an owner of a floral design business, Tim's highest priority for the florist's CRM program should be

Bob never purchases bottled water when he is thirsty even if it is available. This behavior indicates that bottled water

Educational level is the single most important determinant of social class.

Match the term with its definition -A principle that maintains that 80 percent of a company's sales will come from 20 percent of its customers

CRM software programs are often implemented into _____ first since this area of a company typically generates the greatest amount of customer contact.

Match the term with its definition. -A group member who plays a key communication role

In some situations, a small business owner will have to influence need recognition; in others, he or she may simply be able to react to needs that consumers have identified on their own.

Match the term with its definition -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

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

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

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

Filters