Question 1

________ helps companies manage and monitor online reviews using a process called device fingerprinting.

Accepted Answer

A)  Gawker 
B)  Bazaarvoice 
C)  Metacritic 
D)  Angie's List 
E)  Technorati

Question 2

Sites such as Bizrate.com, Shopping.com, and PriceGrabber.com, and Epinions.com and Yelp.com, which let customers share information about their product and service experiences with others, reflect an increase in customer ________.

Accepted Answer

A)  ambiguity 
B)  empowerment 
C)  privacy 
D)  diplomacy 
E)  empathy

Question 3

Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

Accepted Answer

A) True 
 B)False

Question 4

It's often easier to re-attract ex-customers than to find new ones because the company knows their names and histories.

Accepted Answer

A) True 
 B)False

Question 5

Villy Custom Bicycles come in a variety of mix and match colors and styles so consumers can design their own. This is an example of personalizing the product.

Accepted Answer

A) True 
 B)False

Question 6

Identify ways in which companies facing customer complaints can recover customer goodwill.

Accepted Answer

The answer of Identify ways in which companies facing customer...

Question 7

Explain permission marketing.

Accepted Answer

The answer of Explain permission marketing....

Question 8

Which of the following is NOT a way to make online brand communities more effective?

Accepted Answer

A)  set appointed times for topic discussion 
B)  keep the focus on the topic 
C)  make it easy for users to express themselves 
D)  launch contests 
E)  set limits on length of responses

Question 9

________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.

Accepted Answer

A)  Total customer cost 
B)  Total customer benefit 
C)  Total benefits of ownership 
D)  Value proposition 
E)  Value delivery system

Question 10

To increase customer loyalty, 2Wheels wants to start a club for its dedicated customers, but wants to make sure that only members who want to participate in activities join the club. What can it do to ensure this?

Accepted Answer

The answer of To increase customer loyalty, 2Wheels wants to...

Question 11

Which of the following is true for customer satisfaction?

Accepted Answer

A)  Satisfaction is a deeply held commitment to rebuy or repatronize a preferred product despite situational influences. 
B)  Consumers often form more favorable perceptions of a product with a brand that is new. 
C)  The ultimate goal of a customer-centered firm is to create high customer satisfaction. 
D)  Only increased customer satisfaction can help a company increase its profits. 
E)  Greater customer satisfaction has also been linked to higher returns and lower risk in the stock market.

Question 12

________ describes the company's optimization of the value of its customer base.

Accepted Answer

A)  Customer relationship management 
B)  Behavioral targeting 
C)  Customer value management 
D)  Terminal marketing 
E)  Personalized marketing

Question 13

Which of the following is an example of focusing disproportionate effort on high-profit customers?

Accepted Answer

A)  In addition to bicycles, 2Wheels sells biking gear such as helmets, bottles, jackets and other accessories. 
B)  2Wheels has a club for its regular customers, organizing cycling events and parties for them. 
C)  Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. 
D)  2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. 
E)  2Wheels encourages customers to send in their suggestions for product improvement.

Question 14

The aim of customer relationship management is to keep the costs of meeting and tracking consumers as low as possible.

Accepted Answer

A) True 
 B)False

Question 15

Activity-based costing tries to identify the real costs associated with serving each customer.

Accepted Answer

A) True 
 B)False

Question 16

In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid?

Accepted Answer

A)  sales 
B)  top management 
C)  front-line people 
D)  customers 
E)  middle management

Question 17

Amy is in the "aware" stage of the marketing funnel when she says ________.

Accepted Answer

A)  she can try shopping at VeggiesNmore while simultaneously exploring other stores in the neighborhood 
B)  she was informed about VeggiesNmore by her colleague at work 
C)  she regularly shops at VeggiesNmore 
D)  she shops at VeggiesNmore because the store is easily accessible 
E)  she was happy with the experience of shopping at VeggiesNmore

Question 18

Field Grocery wants to learn the strengths and weaknesses in customer service at all the Field Grocery stores. Which of the following methods can it use for this?

Accepted Answer

A)  group buyers 
B)  buyer brokers 
C)  mystery shoppers 
D)  personal shoppers 
E)  buying agents

Question 19

Which of the following is an example of enhancing the growth potential of each customer through cross-selling?

Accepted Answer

A)  In addition to bicycles, 2Wheels stocks biking gear such as helmets, bottles, jackets and other accessories. 
B)  2Wheels has a club for its regular customers, organizing cycling events and parties for them. 
C)  Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. 
D)  2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. 
E)  2Wheels encourages customers to send in their suggestions for product improvement.

Question 20

Which of the following is a policy a store can adopt to make low-profit customers more profitable?

Accepted Answer

A)  2Wheels sends birthday greetings to its best customers and gives them discounts on merchandise. 
B)  2Wheels has a club for its regular customers, organizing cycling events and parties for them. 
C)  Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. 
D)  2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. 
E)  2Wheels encourages customers to send in their suggestions for product improvement.

Exam 5: Creating Long-Term Loyalty Relationships

________ helps companies manage and monitor online reviews using a process called device fingerprinting.

Sites such as Bizrate.com, Shopping.com, and PriceGrabber.com, and Epinions.com and Yelp.com, which let customers share information about their product and service experiences with others, reflect an increase in customer ________.

Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

It's often easier to re-attract ex-customers than to find new ones because the company knows their names and histories.

Villy Custom Bicycles come in a variety of mix and match colors and styles so consumers can design their own. This is an example of personalizing the product.

Identify ways in which companies facing customer complaints can recover customer goodwill.

Explain permission marketing.

Which of the following is NOT a way to make online brand communities more effective?

________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.

To increase customer loyalty, 2Wheels wants to start a club for its dedicated customers, but wants to make sure that only members who want to participate in activities join the club. What can it do to ensure this?

Which of the following is true for customer satisfaction?

________ describes the company's optimization of the value of its customer base.

Which of the following is an example of focusing disproportionate effort on high-profit customers?

The aim of customer relationship management is to keep the costs of meeting and tracking consumers as low as possible.

Activity-based costing tries to identify the real costs associated with serving each customer.

In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid?

Amy is in the "aware" stage of the marketing funnel when she says ________.

Field Grocery wants to learn the strengths and weaknesses in customer service at all the Field Grocery stores. Which of the following methods can it use for this?

Which of the following is an example of enhancing the growth potential of each customer through cross-selling?

Which of the following is a policy a store can adopt to make low-profit customers more profitable?