Question 1

A company's most loyal customers may also be its competitors' most loyal customers.

Accepted Answer

A) True 
 B)False  True

Question 2

Which of the following is not an intervening variable that can exist between satisfaction and the creation of loyalty toward a company and its customers?

Accepted Answer

A) large number of on-par competitive offerings 
B) novelty seeking 
C) new offerings 
D) no personal attachment to the brand 
E) equilibrium evaluation 
A) large number of on-par competitive offerings 
B) novelty seeking 
C) new offerings 
D) no personal attachment to the brand 
E) equilibrium evaluation E

Question 3

Satisfaction is

Accepted Answer

A) the most important reaction a company can gain from consumers. 
B) the strongest of all sentiments. 
C) not a very good measure predicting future purchase behavior. 
D) achieved in only 40% of all transactions. 
E) both A and B are true 
A) the most important reaction a company can gain from consumers. 
B) the strongest of all sentiments. 
C) not a very good measure predicting future purchase behavior. 
D) achieved in only 40% of all transactions. 
E) both A and B are true C

Question 4

Long term customers are felt to be more profitable for which of the following reasons?

Accepted Answer

A) they become less price sensitive 
B) they lose their vigilance toward price 
C) they experience purchase efficiencies and value the convenience 
D) they cost less to service 
E) all of the above 
A) they become less price sensitive 
B) they lose their vigilance toward price 
C) they experience purchase efficiencies and value the convenience 
D) they cost less to service 
E) all of the above

Question 5

The strongest of all relationships is a(n)

Accepted Answer

A) acquaintance relationship. 
B) friendly relationship. 
C) partner relationship. 
D) relationship based on satisfaction. 
E) situation-specific relationship. 
A) acquaintance relationship. 
B) friendly relationship. 
C) partner relationship. 
D) relationship based on satisfaction. 
E) situation-specific relationship.

Question 6

Spurious loyalty is the same as

Accepted Answer

A) inertial loyalty. 
B) situation specific loyalty. 
C) latent loyalty. 
D) divided loyalty. 
E) affect loyalty. 
A) inertial loyalty. 
B) situation specific loyalty. 
C) latent loyalty. 
D) divided loyalty. 
E) affect loyalty.

Question 7

The large number of on-par competitive offerings is a type of intervening variable that can exist between satisfaction and the creation of loyalty toward a company and its customers.

Accepted Answer

A) True 
 B)False

Question 8

Many studies have shown that

Accepted Answer

A) high value customers select the one convenient channel best for them. 
B) the channel captain is very often the one with the most developed website. 
C) multi-channel users can be 25-50% more profitable than single channel users. 
D) women tend to be more multi-channel oriented than men. 
E) all of the above are true 
A) high value customers select the one convenient channel best for them. 
B) the channel captain is very often the one with the most developed website. 
C) multi-channel users can be 25-50% more profitable than single channel users. 
D) women tend to be more multi-channel oriented than men. 
E) all of the above are true

Question 9

Behavioral loyalty means strong feelings toward a brand.

Accepted Answer

A) True 
 B)False

Question 10

Spurious or inertial loyalty looks at which brands a customer purchases but does not consider a person's attitudes toward the brands?

Accepted Answer

A) True 
 B)False

Question 11

The University of Michigan measures service quality each year by interviewing 8,000 consumers about 100 companies and 20 government agencies.

Accepted Answer

A) True 
 B)False

Question 12

Many feel that loyalty programs don't, in fact, increase customer loyalty toward the company that sponsors the program.

Accepted Answer

A) True 
 B)False

Question 13

The main reason companies introduce loyalty programs is to attract more customers.

Accepted Answer

A) True 
 B)False

Question 14

Inertial loyalists are uninvolved and continue to select a brand because it is not worth the effort to switch.

Accepted Answer

A) True 
 B)False

Question 15

For high-profit/high-loyalty customers, companies should use what type of marketing strategy?

Accepted Answer

A) CRP 
B) OUTFOX 
C) X-RAY WALLET 
D) FAT 
E) butterfly 
A) CRP 
B) OUTFOX 
C) X-RAY WALLET 
D) FAT 
E) butterfly

Question 16

Loyalty programs

Accepted Answer

A) are more common overseas than in the U.S. 
B) now account for up to 20% of companies' new customers. 
C) are a $25 billion dollar industry in the U.S. alone. 
D) enable companies to collect data and enter into dialogues with their customers. 
E) all of the above 
A) are more common overseas than in the U.S. 
B) now account for up to 20% of companies' new customers. 
C) are a $25 billion dollar industry in the U.S. alone. 
D) enable companies to collect data and enter into dialogues with their customers. 
E) all of the above

Question 17

Loyalty is probably most difficult to establish for

Accepted Answer

A) specialty goods. 
B) shopping goods. 
C) comparative goods. 
D) convenience goods. 
E) inelastic goods. 
A) specialty goods. 
B) shopping goods. 
C) comparative goods. 
D) convenience goods. 
E) inelastic goods.

Question 18

Which type of loyalty does NOT simply look at what is purchased but also looks at a person's liking and preference toward the brand?

Accepted Answer

A) situation specific loyalty 
B) affect loyalty 
C) latent loyalty 
D) spurious loyalty 
E) repeat purchase loyalty 
A) situation specific loyalty 
B) affect loyalty 
C) latent loyalty 
D) spurious loyalty 
E) repeat purchase loyalty

Question 19

Which type of loyalty looks at the brand(s) purchased but does not consider a person's attitudes toward the brand(s)?

Accepted Answer

A) spurious loyalty 
B) true loyalty 
C) latent loyalty 
D) inertial loyalty 
E) A and D 
A) spurious loyalty 
B) true loyalty 
C) latent loyalty 
D) inertial loyalty 
E) A and D

Question 20

What type of loyalty is exhibited by someone who seldom, if ever, questions the correctness of his brand selection?

Accepted Answer

A) deliberative loyalty 
B) inertial loyalty 
C) emotive loyalty 
D) cerebral loyalty 
E) habitual loyalty 
A) deliberative loyalty 
B) inertial loyalty 
C) emotive loyalty 
D) cerebral loyalty 
E) habitual loyalty

A company's most loyal customers may also be its competitors' most loyal customers.

Which of the following is not an intervening variable that can exist between satisfaction and the creation of loyalty toward a company and its customers?

Satisfaction is

Long term customers are felt to be more profitable for which of the following reasons?

The strongest of all relationships is a(n)

Spurious loyalty is the same as

The large number of on-par competitive offerings is a type of intervening variable that can exist between satisfaction and the creation of loyalty toward a company and its customers.

Many studies have shown that

Behavioral loyalty means strong feelings toward a brand.

Spurious or inertial loyalty looks at which brands a customer purchases but does not consider a person's attitudes toward the brands?

The University of Michigan measures service quality each year by interviewing 8,000 consumers about 100 companies and 20 government agencies.

Many feel that loyalty programs don't, in fact, increase customer loyalty toward the company that sponsors the program.

The main reason companies introduce loyalty programs is to attract more customers.

Inertial loyalists are uninvolved and continue to select a brand because it is not worth the effort to switch.

For high-profit/high-loyalty customers, companies should use what type of marketing strategy?

Loyalty programs

Loyalty is probably most difficult to establish for

Which type of loyalty does NOT simply look at what is purchased but also looks at a person's liking and preference toward the brand?

Which type of loyalty looks at the brand(s) purchased but does not consider a person's attitudes toward the brand(s)?

What type of loyalty is exhibited by someone who seldom, if ever, questions the correctness of his brand selection?

Introduction to Customer Relationship Management

The History and Development of CRM

Relationship Marketing and CRM

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Business-To-Business CRM

The CRM Strategy Cycle: Acquisition, Retention

Privacy and Ethics Considerations

CRM Program Measurement and Tools

Social Networking and CRM

CRM Trends, Challenges, and Opportunities

Filters

Exam 9: Understanding the Customercompany Profit Chain: Satisfaction, Loyalty, Retention, and Profits

A company's most loyal customers may also be its competitors' most loyal customers.

Which of the following is not an intervening variable that can exist between satisfaction and the creation of loyalty toward a company and its customers?

Satisfaction is

Long term customers are felt to be more profitable for which of the following reasons?

The strongest of all relationships is a(n)

Spurious loyalty is the same as

The large number of on-par competitive offerings is a type of intervening variable that can exist between satisfaction and the creation of loyalty toward a company and its customers.

Many studies have shown that

Behavioral loyalty means strong feelings toward a brand.

Spurious or inertial loyalty looks at which brands a customer purchases but does not consider a person's attitudes toward the brands?

The University of Michigan measures service quality each year by interviewing 8,000 consumers about 100 companies and 20 government agencies.

Many feel that loyalty programs don't, in fact, increase customer loyalty toward the company that sponsors the program.

The main reason companies introduce loyalty programs is to attract more customers.

Inertial loyalists are uninvolved and continue to select a brand because it is not worth the effort to switch.

For high-profit/high-loyalty customers, companies should use what type of marketing strategy?

Loyalty programs

Loyalty is probably most difficult to establish for

Which type of loyalty does NOT simply look at what is purchased but also looks at a person's liking and preference toward the brand?

Which type of loyalty looks at the brand(s) purchased but does not consider a person's attitudes toward the brand(s)?

What type of loyalty is exhibited by someone who seldom, if ever, questions the correctness of his brand selection?

Introduction to Customer Relationship Management

The History and Development of CRM

Relationship Marketing and CRM

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Business-To-Business CRM

The CRM Strategy Cycle: Acquisition, Retention

Privacy and Ethics Considerations

CRM Program Measurement and Tools

Social Networking and CRM

CRM Trends, Challenges, and Opportunities

Filters