Question 1

Data warehouse collection is a process that can spot trends and other nuggets of information that the company might not be aware of.

Accepted Answer

A) True 
 B)False

Question 2

For flyers who have lost luggage or missed a flight, the immediacy of feedback based on _____ could render toll-free numbers and website feedback forms obsolete in the near future.

Accepted Answer

A) electronic literature 
B) hypermedia 
C) social media 
D) interactive voice response system 
A) electronic literature 
B) hypermedia 
C) social media 
D) interactive voice response system

Question 3

Which of the following is true about long-term customer relationships?

Accepted Answer

A) Referrals are not usually initiated by long-term customers. 
B) On a longer basis, customers tend to become more price-sensitive. 
C) Long-term customers tend to be less inclined to switch. 
D) Cost of customer acquisition occurs after the relationship has been established. 
A) Referrals are not usually initiated by long-term customers. 
B) On a longer basis, customers tend to become more price-sensitive. 
C) Long-term customers tend to be less inclined to switch. 
D) Cost of customer acquisition occurs after the relationship has been established.

Question 4

According to Pareto's Rule:

Accepted Answer

A) 20 percent of a brand's sales come from 80 percent of its customers. 
B) high-profit customers who are rewarded are easier to retain. 
C) light users should be rewarded more for a push. 
D) databases merely recognize their customers. 
A) 20 percent of a brand's sales come from 80 percent of its customers. 
B) high-profit customers who are rewarded are easier to retain. 
C) light users should be rewarded more for a push. 
D) databases merely recognize their customers.

Question 5

Which of the following is true about touch points?

Accepted Answer

A) They refer to the points along the price line at which the purchased product passes onto the customer's hands. 
B) Measuring the overall customer satisfaction is a better measure of customer loyalty than measuring the same at each touch point. 
C) A call centre is an example of a human touch point. 
D) Measuring customer loyalty starts with understanding and listing the total customer interactions that influenced the customers' satisfaction. 
A) They refer to the points along the price line at which the purchased product passes onto the customer's hands. 
B) Measuring the overall customer satisfaction is a better measure of customer loyalty than measuring the same at each touch point. 
C) A call centre is an example of a human touch point. 
D) Measuring customer loyalty starts with understanding and listing the total customer interactions that influenced the customers' satisfaction.

Question 6

According to the findings of a TD Canada Trust loyalty poll, 49 percent of customers ranked _____ as their number one priority.

Accepted Answer

A) reward programs 
B) low interest rate on loans 
C) customer service 
D) high interest rates on savings accounts 
A) reward programs 
B) low interest rate on loans 
C) customer service 
D) high interest rates on savings accounts

Question 7

Companies are starting to focus on the value of a customer given that the customer remains loyal to the firm over the customer's lifetime.

Accepted Answer

A) True 
 B)False

Question 8

Every employee at WestJet takes ownership in what they do, and they have a heightened sense of customer service responsibility.The management at WestJet is _____.

Accepted Answer

A) plagued by employee turnover 
B) hiring unmotivated employees 
C) facing competition 
D) walking the talk 
A) plagued by employee turnover 
B) hiring unmotivated employees 
C) facing competition 
D) walking the talk

Question 9

Most often, customers tend to stop buying from a company due to _____.

Accepted Answer

A) some issues with the product 
B) poor customer service 
C) low interest in the product 
D) unhappiness with the brand 
A) some issues with the product 
B) poor customer service 
C) low interest in the product 
D) unhappiness with the brand

Question 10

All the data concerning customers is stored in a central place, called the data mine.

Accepted Answer

A) True 
 B)False

Question 11

_____ is a process of analyzing customer patterns and insights to make better marketing decisions.

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 12

To contact an airline, customers are increasingly using _____, as opposed to the old way of phoning the company.

Accepted Answer

A) electronic literature 
B) hypermedia 
C) social media 
D) website feedback forms 
A) electronic literature 
B) hypermedia 
C) social media 
D) website feedback forms

Question 13

One of the temptations for a company using social media is to encourage consumers to say positive things about their brand on a social media platform._____ can suffer as a result.

Accepted Answer

A) Consistency 
B) Quality 
C) Feasibility 
D) Credibility 
A) Consistency 
B) Quality 
C) Feasibility 
D) Credibility

Question 14

In addition to rewarding customers, Gatersby Inc.'s loyalty program provided the firm with reams of customer information in its database._____ is the most efficient way to use this information to make better marketing decisions.

Accepted Answer

A) Relationship marketing 
B) Data mining 
C) Data warehousing 
D) Database marketing 
A) Relationship marketing 
B) Data mining 
C) Data warehousing 
D) Database marketing

Question 15

What are touch points? Explain their role in measuring customer loyalty.

Accepted Answer

Touch points are just another way to des

Question 16

Michael & Peter's, a legal consultant, has discovered that it is losing a significant number of its clients.Which of the following refers to the first step that the consultant should take for customer reacquisition?

Accepted Answer

A) Determine why their customers have stopped taking their services. 
B) Find the customer category that is in risk of being lost. 
C) Avoid relying on databases since they only provide overall purchase frequency data. 
D) Concentrate on future stream of customer purchases since losing one customer is simply equivalent to losing that particular sale. 
A) Determine why their customers have stopped taking their services. 
B) Find the customer category that is in risk of being lost. 
C) Avoid relying on databases since they only provide overall purchase frequency data. 
D) Concentrate on future stream of customer purchases since losing one customer is simply equivalent to losing that particular sale.

Question 17

A company's failure with CRM is often the result of approaching CRM as an overall company strategy rather than a software project.

Accepted Answer

A) True 
 B)False

Question 18

Nathan, who runs a grocery store, looks at each customer as an investment.Nathan is referring to each customer's _____.

Accepted Answer

A) sales projection 
B) customer lifetime value 
C) word-of-mouth activity 
D) market share 
A) sales projection 
B) customer lifetime value 
C) word-of-mouth activity 
D) market share

Question 19

Which of the following is true about customer retention?

Accepted Answer

A) Increased focus on new customers will result in more profit and sales. 
B) Making a sale to a new customer is comparatively less expensive than making a sale to a current customer. 
C) Long-term customers normally tend to be less price-sensitive. 
D) The cost of acquiring a customer, which occurs only after establishing the relationship, leads to increased profitability. 
A) Increased focus on new customers will result in more profit and sales. 
B) Making a sale to a new customer is comparatively less expensive than making a sale to a current customer. 
C) Long-term customers normally tend to be less price-sensitive. 
D) The cost of acquiring a customer, which occurs only after establishing the relationship, leads to increased profitability.

Question 20

Porther Inc.maintains an electronic library where all its customer information is indexed.This library is called the _____.

Accepted Answer

A) customer data folder 
B) data warehouse 
C) customer hub 
D) data mine 
A) customer data folder 
B) data warehouse 
C) customer hub 
D) data mine

Data warehouse collection is a process that can spot trends and other nuggets of information that the company might not be aware of.

For flyers who have lost luggage or missed a flight, the immediacy of feedback based on _____ could render toll-free numbers and website feedback forms obsolete in the near future.

Which of the following is true about long-term customer relationships?

According to Pareto's Rule:

Which of the following is true about touch points?

According to the findings of a TD Canada Trust loyalty poll, 49 percent of customers ranked _____ as their number one priority.

Companies are starting to focus on the value of a customer given that the customer remains loyal to the firm over the customer's lifetime.

Every employee at WestJet takes ownership in what they do, and they have a heightened sense of customer service responsibility.The management at WestJet is _____.

Most often, customers tend to stop buying from a company due to _____.

All the data concerning customers is stored in a central place, called the data mine.

_____ is a process of analyzing customer patterns and insights to make better marketing decisions.

To contact an airline, customers are increasingly using _____, as opposed to the old way of phoning the company.

One of the temptations for a company using social media is to encourage consumers to say positive things about their brand on a social media platform._____ can suffer as a result.

In addition to rewarding customers, Gatersby Inc.'s loyalty program provided the firm with reams of customer information in its database._____ is the most efficient way to use this information to make better marketing decisions.

What are touch points? Explain their role in measuring customer loyalty.

Michael & Peter's, a legal consultant, has discovered that it is losing a significant number of its clients.Which of the following refers to the first step that the consultant should take for customer reacquisition?

A company's failure with CRM is often the result of approaching CRM as an overall company strategy rather than a software project.

Nathan, who runs a grocery store, looks at each customer as an investment.Nathan is referring to each customer's _____.

Which of the following is true about customer retention?

Porther Inc.maintains an electronic library where all its customer information is indexed.This library is called the _____.

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

Data warehouse collection is a process that can spot trends and other nuggets of information that the company might not be aware of.

For flyers who have lost luggage or missed a flight, the immediacy of feedback based on _____ could render toll-free numbers and website feedback forms obsolete in the near future.

Which of the following is true about long-term customer relationships?

According to Pareto's Rule:

Which of the following is true about touch points?

According to the findings of a TD Canada Trust loyalty poll, 49 percent of customers ranked _____ as their number one priority.

Companies are starting to focus on the value of a customer given that the customer remains loyal to the firm over the customer's lifetime.

Every employee at WestJet takes ownership in what they do, and they have a heightened sense of customer service responsibility.The management at WestJet is _____.

Most often, customers tend to stop buying from a company due to _____.

All the data concerning customers is stored in a central place, called the data mine.

_____ is a process of analyzing customer patterns and insights to make better marketing decisions.

To contact an airline, customers are increasingly using _____, as opposed to the old way of phoning the company.

One of the temptations for a company using social media is to encourage consumers to say positive things about their brand on a social media platform._____ can suffer as a result.

In addition to rewarding customers, Gatersby Inc.'s loyalty program provided the firm with reams of customer information in its database._____ is the most efficient way to use this information to make better marketing decisions.

What are touch points? Explain their role in measuring customer loyalty.

Michael & Peter's, a legal consultant, has discovered that it is losing a significant number of its clients.Which of the following refers to the first step that the consultant should take for customer reacquisition?

A company's failure with CRM is often the result of approaching CRM as an overall company strategy rather than a software project.

Nathan, who runs a grocery store, looks at each customer as an investment.Nathan is referring to each customer's _____.

Which of the following is true about customer retention?

Porther Inc.maintains an electronic library where all its customer information is indexed.This library is called the _____.

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