Question 1

Royal Caribbean uses its ________ to offer spur-of-the-moment cruise packages to fill all the berths on its ships.It focuses on retired people and single people because they are more able to make quick commitments.

Accepted Answer

A) advertising 
B) database 
C) mail catalogs 
D) public relations department 
E) radio advertising

Question 2

Carol is currently considering buying a Motorola cell phone offered by her service provider in conjunction with a two-year service contract.Carol is best characterized as a(n)________ for Motorola.

Accepted Answer

A) first-time customer 
B) member 
C) partner 
D) advocate 
E) prospect

Question 3

________ can track customer satisfaction directly and also gauge consumers' willingness to recommend the company and brand to others.

Accepted Answer

A) Periodic surveys 
B) Mystery shoppers 
C) Customer loss rates 
D) Customer focus statements 
E) All of the above

Question 4

Savvy companies are capturing information every time a customer comes into contact with any of its departments.As a marketing manager all of the following would be available customer touch points for your consideration EXCEPT ________.

Accepted Answer

A) a customer purchase 
B) an online query 
C) a mail-in rebate card 
D) an ad run on a national television network 
E) a customer-requested service call

Question 5

Database marketing is most frequently used by business marketers and service providers (hotels,banks,airlines,and insurance,credit card,and telephone companies)that normally and easily collect a lot of customer data.

Accepted Answer

A) True 
 B)False

Question 6

Most companies have learned that the ________ are often the most profitable because of service expectations and their willingness to pay almost full price.

Accepted Answer

A) large-size customers 
B) midsize customers 
C) small-size customers 
D) niche customers 
E) target market customers

Question 7

Winning companies improve the value of their customer base by excelling at each of the following strategies EXCEPT ________.

Accepted Answer

A) retaining all customers regardless of profitability 
B) reducing the rate of customer defection 
C) increasing the longevity of the customer relationship 
D) making low-profit customers more profitable or terminating them 
E) focusing disproportionate efforts on high-value customers

Question 8

In applying a customer's perceived value to a decision,a seller who is at a disadvantage with respect to customer-perceived value has two alternatives: to increase total customer benefit or ________.

Accepted Answer

A) increase a cash-back bonus 
B) decrease total customer cost 
C) lose the sale to the competitor 
D) advertise more frequently 
E) offer an extended warranty

Question 9

One of the main problems that can prevent a firm from effectively using CRM is that some of the assumptions behind CRM may not always hold true.Give an example of one of these assumptions that might not always hold true.

Accepted Answer

The answer of One of the main problems that can...

Question 10

Another term for high customer ________ is customer churn.

Accepted Answer

A) retention 
B) defection 
C) value 
D) perception 
E) belief

Question 11

All companies should practice one-to-one marketing.

Accepted Answer

A) True 
 B)False

Question 12

Give an example of a "branded customer experience."

Accepted Answer

The answer of Give an example of a "branded customer...

Question 13

________ involves the use of sophisticated statistical and mathematical techniques such as cluster analysis,automatic interaction detection,predictive modeling,and neural networking.

Accepted Answer

A) Data management 
B) Data marketing 
C) Target market analysis 
D) Data accumulation 
E) Datamining

Question 14

Total quality is the key to value creation and customer satisfaction.A marketing manager has several roles to play in a quality-centered company,including ________.

Accepted Answer

A) participating in cross-functional team building 
B) correctly identifying customers' needs and requirements 
C) ensuring costs are adequately controlled during order fulfillment 
D) setting expectations both internally and externally 
E) working closely with the sales team to create a dynamic sales message

Question 15

All of the following are CRM imperatives EXCEPT ________.

Accepted Answer

A) acquiring the right customer 
B) crafting the right value proposition 
C) instituting the best processes 
D) motivating employees 
E) learning to make profits through marginal customers

Question 16

A customer touch point in the airline industry would include an item such as ________.

Accepted Answer

A) reservations 
B) mechanics' ability to service the airplanes 
C) ease of access to the airport 
D) the value of air travel versus surface transportation 
E) competency of a travel agent

Question 17

A customer database is simply a listing of a customer's name,address,and phone number for credit reference.

Accepted Answer

A) True 
 B)False

Question 18

A highly satisfied customer generally stays loyal longer,pays less attention to competing brands,and is less sensitive to price.

Accepted Answer

A) True 
 B)False

Question 19

How do customers determine their level of satisfaction with a product?

Accepted Answer

The answer of How do customers determine their level of...

Question 20

The modern customer-oriented organization chart places top management at the top of the pyramid as long as they can think like consumers.

Accepted Answer

A) True 
 B)False

Exam 5: Creating Customer Value, satisfaction, and Loyalty

Royal Caribbean uses its ________ to offer spur-of-the-moment cruise packages to fill all the berths on its ships.It focuses on retired people and single people because they are more able to make quick commitments.

Carol is currently considering buying a Motorola cell phone offered by her service provider in conjunction with a two-year service contract.Carol is best characterized as a(n) ________ for Motorola.

________ can track customer satisfaction directly and also gauge consumers' willingness to recommend the company and brand to others.

Savvy companies are capturing information every time a customer comes into contact with any of its departments.As a marketing manager all of the following would be available customer touch points for your consideration EXCEPT ________.

Database marketing is most frequently used by business marketers and service providers (hotels,banks,airlines,and insurance,credit card,and telephone companies)that normally and easily collect a lot of customer data.

Most companies have learned that the ________ are often the most profitable because of service expectations and their willingness to pay almost full price.

Winning companies improve the value of their customer base by excelling at each of the following strategies EXCEPT ________.

In applying a customer's perceived value to a decision,a seller who is at a disadvantage with respect to customer-perceived value has two alternatives: to increase total customer benefit or ________.

One of the main problems that can prevent a firm from effectively using CRM is that some of the assumptions behind CRM may not always hold true.Give an example of one of these assumptions that might not always hold true.

Another term for high customer ________ is customer churn.

All companies should practice one-to-one marketing.

Give an example of a "branded customer experience."

________ involves the use of sophisticated statistical and mathematical techniques such as cluster analysis,automatic interaction detection,predictive modeling,and neural networking.

Total quality is the key to value creation and customer satisfaction.A marketing manager has several roles to play in a quality-centered company,including ________.

All of the following are CRM imperatives EXCEPT ________.

A customer touch point in the airline industry would include an item such as ________.

A customer database is simply a listing of a customer's name,address,and phone number for credit reference.

A highly satisfied customer generally stays loyal longer,pays less attention to competing brands,and is less sensitive to price.

How do customers determine their level of satisfaction with a product?

The modern customer-oriented organization chart places top management at the top of the pyramid as long as they can think like consumers.