110 notecards = 28 pages (4 cards per page)
Which of the following is true for the modern company organization chart?
In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid?
In a modern customer-oriented organization chart, the ________ of an organization immediately follow the customer segment.
________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest ________.
________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.
The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering is called the ________.
Which of the following is true for customer-perceived value?
Which of the following is the first step in customer value analysis?
The final step of customer value analysis is to ________.
Cell phone manufacturer LZT has to choose between two options for sourcing parts: Japan-based Keiko Inc. and U.S.-based Global Tech. How can Keiko reduce the total customer cost for LZT?
________ can be defined as a deeply held commitment to rebuy or repatronize a preferred product or service in the future despite situational influences and marketing efforts having the potential to cause switching behavior.
TBS Bikes has recently introduced a series of bikes called Surami. The core positioning of TBS Bikes is "speed". Surami is a five-gear bike and apart from speed, the company promises to include other features such as safety, good performance, and pollution control features. This describes the ________ of the bike.
A company's ________ includes all the experiences the customer will have on the way to obtaining and using the offering.
Sammy's is a fast food chain that offers burgers, sandwiches, and shakes. It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it. Hence, Sammy's is focusing its marketing efforts on its ________.
Total customer satisfaction is measured based on the relationship of ________.
Which of the following is true for customer satisfaction?
________ can track customer satisfaction directly, measure repurchase intention and also gauge a consumer's willingness to recommend the company and brand to others.
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?
Of customers who register a complaint, ________.
Which of the following is the best method of recovering customer goodwill?
________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.
When two brands of the same basic product deliver their respective promised quality, they are delivering ________.
Rade and Talion are competitors in the business of manufacturing wrist watches. While Rade promises to deliver design and quality to its customers, Talion promises to deliver durability and cost effectiveness. When both these companies deliver their respective promised qualities, they are delivering ________.
The 80-20 rule reflects the idea that ________.
A profitable customer ________.
A ________ is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing that customer.
Customer profitability analysis (CPA) is best conducted with the tools of an accounting technique called ________.
Which of the following is true for activity-based costing (ABC)?
________ describes the net present value of the stream of future profits expected over the customer's lifetime purchases.
The aim of customer relationship management is to produce high customer ________.
________ is the process of carefully managing detailed information about individual customers and all customer "touch points" to maximize loyalty.
A customer ________ is any occasion on which a customer encounters the brand and product—from actual experience to personal or mass communications to casual observation.
A customer touch point for Abacus Airlines would be an item such as ________.
Rachel and Josh are on vacation in Hawaii. When they arrived at the hotel, they were offered chilled juice. Their check-in formalities were handled by the staff. When they entered their room, they saw that chocolates had been placed on the pillows and a flower arrangement on the table. The hotel's actions are an example of ________.
Customer relationship management enables companies to provide excellent real-time customer service through the effective use of ________.
________ is based on the premise that marketers can no longer use "interruption marketing" via mass media campaigns.
________ is the practice of sending messages only when consumers express a willingness to become more involved with the brand.
Which of the following is a step in one-to-one marketing that can be adapted for CRM marketing?
Another term for high customer ________ is customer churn.
Which of the following can a company do to reduce defection?
Jack has shopped at VeggiesNmore. He was happy with the experience and thought that this could be an alternative to GreenFoods. However, he is also keen to try out other stores in the neighborhood. He is in the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is concerned.
Amy is in the "aware" stage of the marketing funnel when she says ________.
Satisfied customers constitute the company's ________.
Sapphire Toys actually sells more than toys. It also sells branded clothing, music CDs, and books for children. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________.
LifeTime Insurance screens its customers and tries to get unprofitable customers to buy services from competitors. This is an example of ________.
Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps the banks to ________.
Which of the following is an example of focusing disproportionate effort on high-profit customers?
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?
Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as ________.
Which of the following gains the most benefit from introducing a frequency program?
Club membership programs that are open to everyone who purchases a product or service ________.
Southwest Airlines offers a Rapid Rewards program that allows customers to count flights they have taken toward free future flights. This is an example of a(n) ________.
Some customers inevitably become inactive or drop out. The challenge for marketers is to reactivate them through ________ strategies.
A ________ is an organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for lead generation, lead qualification, sale of a product or service, or maintenance of customer relationships.
The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________.
A ________ is simply a set of names, addresses, and telephone numbers.
Using the information in his company's ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.
Through ________, marketing statisticians can extract useful information about individuals, trends, and segments from the mass of data.
2Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of ________.
Susan Lefferts' company advertises widely. Ms. Lefferts uses business reply cards attached to her company's magazine ads to build her company's database. In which of the following ways would Ms. Lefferts most likely use the database?
Phil Langston has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database. In which of the following ways is Mr. Langston most likely using his database?
The skillful use of ________ has made catalog house Fingerhut one of the nation's largest direct-mail marketers.
Which of the following is true for customer relationship marketing?
Which of the following is not conducive to database marketing?
In which of the following cases is building a database worthwhile for the company?
In which of the following cases is building a database worthwhile for the company?
Which of the following is most likely to use database marketing?
Which of the following statements demonstrates behavioral loyalty towards a brand?
Managers who believe the customer is the company's only true "profit center" consider the traditional organization chart to be obsolete.
The modern customer-oriented organization chart places top management at the top of the pyramid.
Customer-perceived value is based on the difference between benefits the customer gets and
Total customer cost consists of only the non-monetary costs in evaluating, obtaining, using, and disposing of the given market offering.
Customer-perceived value is the perceived monetary value of all the purchases a customer makes on an annual basis.
A seller who is at a disadvantage has two alternatives: decrease total customer benefit or increase total customer cost.
The value proposition is stated in the price of a product and readily recognized by the average consumer.
The value delivery system includes all the experiences the customer will have on the way to obtaining and using the offering.
The value proposition is also known as the core positioning of the offering.
Loyalty is a person's feelings of pleasure or disappointment that result from comparing a product's perceived performance to expectations.
Customer satisfaction is the only way by which a firm can increase its profitability.
Consumers' expectations result exclusively from past buying experiences.
The best thing a company can do in the face of company mistakes is to discourage the customer from complaining.
Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.
Conformance quality and performance quality are identical in the marketing sense.
Two products with very different performance qualities can have the same conformance quality if both products deliver their respective promised quality.
A profitable customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing the customer.
A customer's profitability is judged on the basis of the lifetime stream of revenue and cost, not the profit from a particular transaction.
Unprofitable customers who defect to a competitor should be encouraged to do so.
Customer profitability analysis is best conducted with the tools of an accounting technique called activity-based costing.
Activity-based costing tries to identify the real costs associated with serving each customer.
Activity-based costing does not consider indirect, variable and overhead costs.
Customer lifetime value describes the net present value of the stream of future profits expected over the customer's lifetime purchases.
The aim of customer relationship management is to keep the costs of meeting and tracking consumers as low as possible.
A customer touch point is the time when the customer makes a purchase.
Permission marketing presumes that consumers know what they want.
All companies should practice one-to-one marketing.
Customer churn is how rapidly a store can move customers through its checkout facility or process.
For a magazine, subscription renewal rate is a good measure of retention.
A company should try to retain the customer only as long as the cost to discourage defection is lower than the lost profit.
Profit rate tends to decrease over the life of the retained customer due to increased purchases,
The marketing funnel identifies the profitability of consumers at each stage in the decision process.
Focusing disproportionate effort on high-profit customers will lead to lower customer profitability for those customers.
Frequency programs are designed to reward customers who buy frequently and in substantial amounts.
Clubs that are open to everyone who purchases a product or service are good for building a customer database.
It's often easier to reattract ex-customers than to find new ones because the company knows their names and histories.
A customer database is simply a listing of a customer's name, address, and phone number for credit reference.
Cluster analysis is a statistical technique that can be employed in data mining.
Building a customer database is not recommended when the product is a once-in-a-lifetime purchase.
Loyal customers are the best ambassadors for a brand.