Question 1

A small number of customers account for a large percentage of a brand's sales and profits.This is referred to as _____.

Accepted Answer

A) Benford's Rule 
B) Ninety-ninety rule 
C) Murphy's law 
D) Pareto's Rule 
A) Benford's Rule 
B) Ninety-ninety rule 
C) Murphy's law 
D) Pareto's Rule

Question 2

Palero uses information about customers to create marketing programs that result in customer satisfaction.Which of the following processes is Palero applying?

Accepted Answer

A) Customer experience management 
B) Customer reward program 
C) Customer branding 
D) Customer relationship management 
A) Customer experience management 
B) Customer reward program 
C) Customer branding 
D) Customer relationship management

Question 3

Charles, who had been waiting in a check-in line at Grasp Airways, tweeted his dissatisfaction when he realized that the line was not moving quickly.At the same time, airline employees were scanning the online traffic, and came across Charles's complaint.By the time Charles made it to the desk, his compliant was directly dealt with.Which of the following tools did Grasp Airways use to deal with Charles's issue?

Accepted Answer

A) electronic literature 
B) voice mail 
C) social media 
D) interactive voice response service 
A) electronic literature 
B) voice mail 
C) social media 
D) interactive voice response service

Question 4

The increased profitability that is associated with customer retention is due to the fact that the cost of acquiring a customer occurs only after the relationship has been established.

Accepted Answer

A) True 
 B)False

Question 5

Palero collects information from phone centres, Internet sites, and contacts that salespeople have with their customers.These contacts are called _____.

Accepted Answer

A) tangible contacts 
B) touch points 
C) stimuli 
D) response centres 
A) tangible contacts 
B) touch points 
C) stimuli 
D) response centres

Question 6

Explain how consumers are increasingly using social media to contact an airline.

Accepted Answer

For flyers who have lost luggage or miss

Question 7

The Eatery Palace, a grocery chain, used to display its juices by arranging them according to their brands.The store later studied information and learned that its customers prefer the juices to be arranged according to their flavours.The process used to retrieve this information is referred to as _____.

Accepted Answer

A) relationship marketing 
B) data mining 
C) data warehousing 
D) customer experience transformation 
A) relationship marketing 
B) data mining 
C) data warehousing 
D) customer experience transformation

Question 8

The percentage of a customer's purchases that a company has in a specific product category is referred to as _____.

Accepted Answer

A) return on investment 
B) sales potential 
C) share of wallet 
D) sales history 
A) return on investment 
B) sales potential 
C) share of wallet 
D) sales history

Question 9

The value of a customer's purchases that a company has in a specific product mix is called share of wallet.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is an interactive touch point?

Accepted Answer

A) newspaper advertisement 
B) e-mail 
C) call centre 
D) salesperson 
A) newspaper advertisement 
B) e-mail 
C) call centre 
D) salesperson

Question 11

Many firms are beginning to fire their low-value customers and are focusing their time on their high-value customers.

Accepted Answer

A) True 
 B)False

Question 12

Along with delivering superior customer service, Palero needs to build its brand equity by managing customer interactions.This process is known as customer _____.

Accepted Answer

A) experience management 
B) branding 
C) reward program 
D) relationship management 
A) experience management 
B) branding 
C) reward program 
D) relationship management

Question 13

Philip, a regular customer of Fairmont Banff Spring, returns for an overnight stay at the hotel after a gap of three weeks.He feels unappreciated when he has to give his usual preferences all over again because the guest executive does not refer to the database.This most likely happened because of failing to view the concept of CRM as a(n) _____.

Accepted Answer

A) holistic marketing strategy 
B) company research project 
C) promotional strategy 
D) overall company strategy 
A) holistic marketing strategy 
B) company research project 
C) promotional strategy 
D) overall company strategy

Question 14

_____ programs are those that are specifically designed for customer retention.

Accepted Answer

A) Affability 
B) Directivity 
C) Fixity 
D) Loyalty 
A) Affability 
B) Directivity 
C) Fixity 
D) Loyalty

Question 15

While social media may help a business understand overall consumer sentiment, it is not suitable for connecting or engaging customers who are in the midst of a complaint or problem.

Accepted Answer

A) True 
 B)False

Question 16

Explain how social media can be used as part of a CRM strategy.

Accepted Answer

Answers will vary.Students should be abl

Question 17

Which of the following is true about customer reacquisition?

Accepted Answer

A) Losing a customer is equivalent to simply losing a sale. 
B) Most often, a customer stops buying from a company when there is something inherently wrong with the brand. 
C) Determining why the customer has stopped buying is the first step in customer reacquisition. 
D) The longer customers stays away from the business, the less likely they are to return. 
A) Losing a customer is equivalent to simply losing a sale. 
B) Most often, a customer stops buying from a company when there is something inherently wrong with the brand. 
C) Determining why the customer has stopped buying is the first step in customer reacquisition. 
D) The longer customers stays away from the business, the less likely they are to return.

Question 18

Regular customers at Krotler Inc.are also offered autographed memorabilia and are sometimes invited for celebrity meet-and-greets.This practice of Krotler Inc.goes beyond its usual practice of giving points to the customer that can be used to redeem for merchandise.These special offers are an example of Krotler Inc.'s _____ programs.

Accepted Answer

A) affability 
B) directivity 
C) loyalty 
D) credibility 
A) affability 
B) directivity 
C) loyalty 
D) credibility

Question 19

When the Four Seasons Hotels and resorts improves its long-term profitability by managing customer interactions, it is indulging in customer _____.

Accepted Answer

A) experience management 
B) branding 
C) reward program 
D) relationship management 
A) experience management 
B) branding 
C) reward program 
D) relationship management

Question 20

Which of the following is a disadvantage of jettisoning low-value customers?

Accepted Answer

A) High-value customers tend to become unprofitable. 
B) The total value of individual customers, in terms of profits, falls. 
C) Competitors become aware of the company's customer base. 
D) The company loses its focus on the high-value consumers. 
A) High-value customers tend to become unprofitable. 
B) The total value of individual customers, in terms of profits, falls. 
C) Competitors become aware of the company's customer base. 
D) The company loses its focus on the high-value consumers.

A small number of customers account for a large percentage of a brand's sales and profits.This is referred to as _____.

Palero uses information about customers to create marketing programs that result in customer satisfaction.Which of the following processes is Palero applying?

The increased profitability that is associated with customer retention is due to the fact that the cost of acquiring a customer occurs only after the relationship has been established.

Palero collects information from phone centres, Internet sites, and contacts that salespeople have with their customers.These contacts are called _____.

Explain how consumers are increasingly using social media to contact an airline.

The percentage of a customer's purchases that a company has in a specific product category is referred to as _____.

The value of a customer's purchases that a company has in a specific product mix is called share of wallet.

Which of the following is an interactive touch point?

Many firms are beginning to fire their low-value customers and are focusing their time on their high-value customers.

Along with delivering superior customer service, Palero needs to build its brand equity by managing customer interactions.This process is known as customer _____.

_____ programs are those that are specifically designed for customer retention.

While social media may help a business understand overall consumer sentiment, it is not suitable for connecting or engaging customers who are in the midst of a complaint or problem.

Explain how social media can be used as part of a CRM strategy.

Which of the following is true about customer reacquisition?

When the Four Seasons Hotels and resorts improves its long-term profitability by managing customer interactions, it is indulging in customer _____.

Which of the following is a disadvantage of jettisoning low-value customers?

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Marketing and Strategic Planning

Filters

Exam 14: Customer Relationship Management

A small number of customers account for a large percentage of a brand's sales and profits.This is referred to as _____.

Palero uses information about customers to create marketing programs that result in customer satisfaction.Which of the following processes is Palero applying?

The increased profitability that is associated with customer retention is due to the fact that the cost of acquiring a customer occurs only after the relationship has been established.

Palero collects information from phone centres, Internet sites, and contacts that salespeople have with their customers.These contacts are called _____.

Explain how consumers are increasingly using social media to contact an airline.

The percentage of a customer's purchases that a company has in a specific product category is referred to as _____.

The value of a customer's purchases that a company has in a specific product mix is called share of wallet.

Which of the following is an interactive touch point?

Many firms are beginning to fire their low-value customers and are focusing their time on their high-value customers.

Along with delivering superior customer service, Palero needs to build its brand equity by managing customer interactions.This process is known as customer _____.

_____ programs are those that are specifically designed for customer retention.

While social media may help a business understand overall consumer sentiment, it is not suitable for connecting or engaging customers who are in the midst of a complaint or problem.

Explain how social media can be used as part of a CRM strategy.

Which of the following is true about customer reacquisition?

When the Four Seasons Hotels and resorts improves its long-term profitability by managing customer interactions, it is indulging in customer _____.

Which of the following is a disadvantage of jettisoning low-value customers?

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Marketing and Strategic Planning

Filters