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Exam 5: Creating Long-Term Loyalty Relationships

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Question 51

True/False

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A company should try to retain a customer only as long as the cost to discourage defection is lower than the lost profit.

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Question 52

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________ marketing is about making sure the brand and its marketing are as personally relevant as possible to as many customers as possible - a challenge, given that no two customers are identical.

A) Personalizing
B) Permission
C) Identification
D) Database
E) Integrated

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Question 53

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A Forrester study of 10,000 consumers of Amazon.com's electronics and home and garden products found that ________ percent found negative reviews helpful.

Cell phone manufacturer LZT has to choose between two options for sourcing parts: Japan-based Keiko Inc. and US-based Global Tech. How can Keiko reduce the total customer cost for LZT?

Focusing disproportionate effort on high-profit customers will lead to lower customer profitability for those customers.

Permission marketing presumes that consumers know what they want.

To exploit the power of social media, marketers need to create tangible value for consumers, which can come from all of the following EXCEPT ________.

Two products with very different performance qualities can have the same conformance quality if both products deliver their respective promised quality.

Loyalty is a person's feelings of pleasure or disappointment that result from comparing a product's perceived performance to expectations.

For a magazine, subscription renewal rate is a good measure of retention.

A seller who is at a disadvantage has two alternatives: decrease total customer benefit or increase total customer cost.

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.

Provide an example of a big company that fought back against an unjustified complaint.

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.

Which of the following is true for activity-based costing (ABC) ?

Customer lifetime value describes the net present value of the stream of future profits expected over the customer's lifetime purchases.

Some customers inevitably become inactive or drop out. The challenge for marketers is to reactivate them through ________ strategies.

Are complaints a good indicator of customer satisfaction? Why or why not?

________ is the process of carefully managing detailed information about individual customers and all customer "touch points" to maximize loyalty.

In a modern customer-oriented organization chart, the ________ of an organization immediately follow the customer segment.