Question 1

Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing. Name and explain the four steps?

Accepted Answer

The four steps are:(1)identify your pros...

Question 2

The 20-80-30 rules reflects the idea that

Accepted Answer

A)   the top 20 percent of customers are highly satisfied, 80 percent of customers will recommend the company to a friend, and 30 percent are unsatisfied.
B)   20 percent of customers are unprofitable, 80 percent of customers make up 30 percent of a company's profits.
C)   any new product offering will be accepted by 20 percent of the customers immediately, this figure will eventually rise to 30 percent, however, 80 percent of the customers will be up for grabs throughout the product life cycle for the product.
D)   the top 20 percent of customers generate 80 percent of the company's profits, half of which are lost serving the bottom 30 percent of unprofitable customers.
E)   20 percent of the company's profits are generated by 80 percent of customers, and 30 percent of customers are satisfied.

Question 3

________ is an organization-wide approach to continuously improving the quality of all the organization's processes, products, and services.

Accepted Answer

A)   Profit-centred management
B)   Strategic management
C)   Customer-retention management
D)   Total quality management
E)   Total customer control management

Question 4

Of customers who register a complaint, ________.

Accepted Answer

A)   all will do business with the company again because they are unwilling to dedicate the effort required to find another vendor
B)   none will do business with the company again
C)   customers whose complaints are satisfactorily resolved are more likely to provide publicity than those who are dissatisfied
D)   some will do business with the company again if their complaint is resolved
E)   the speed of resolution has no impact on the likelihood of repeat business

Question 5

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 6

________ are adept at building customer relationships, not just products.

Accepted Answer

A)   Sales-centred companies
B)   Customer-centred companies
C)   Production-centred companies
D)   Profit-centred companies
E)   Promotion-centred companies

Question 7

The drive in world markets to produce superior goods has led some countries to recognize or award prizes. What is the name of Japan's prize for developing quality products?

Accepted Answer

A)   the Deming Prize
B)   Malcolm Baldridge National Quality Award
C)   the John F. Welch Jr. Prize
D)   the K.C. Irving Quality Award
E)   the J.D. Power Award

Question 8

Cellular carriers are plagued by "spinners," customers who switch carriers at least three times a year looking for the best deal. List some of the reasons by defecting customers.

Accepted Answer

These include unmet needs and ...

Question 9

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

Accepted Answer

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

Question 10

Assume that a marketing manager of a small company is in the process of implementing the use of a database to assist his or her company in its marketing efforts. Considering the information found in the text, list five ways that the marketing manager might be able to use the database for marketing efforts.

Accepted Answer

Five ways to use a database for marketin...

Question 11

Using European automobile giant Volvo as your illustration, create a value proposition for the company. Be sure to base your proposition on established company core positions and values.

Accepted Answer

Students may have several answers;howeve...

Question 12

________ is the practice of marketing to consumers only after gaining their expressed permission.

Accepted Answer

A)   Relationship marketing
B)   Cause marketing
C)   Permission marketing
D)   Defensive marketing
E)   Horizontal marketing

Question 13

Firms that adopt primarily a cost reduction emphasis perform better than firms that adopt primarily a revenue expansion emphasis.

Accepted Answer

A) True 
 B)False

Question 14

Discuss the differences between customer equity and brand equity.

Accepted Answer

Customer equity is the total of the disc...

Question 15

The ________ consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering.

Accepted Answer

A)   value proposition
B)   mission statement
C)   corporate pledge
D)   corporate perceived value
E)   customer promise

Question 16

Any competitive advantage must be seen by customers as a customer advantage.

Accepted Answer

A) True 
 B)False

Question 17

The Shoppers Optimum card allows users to accumulate points to apply toward free goods at Shoppers Drug Mart, This is a very successful and recognized

Accepted Answer

A)   frequency program.
B)   customer defection.
C)   CRM technology.
D)   mass customization.
E)   retailer partnership.

Question 18

Ninety-five percent of dissatisfied customers don't complain; they just stop buying.

Accepted Answer

A) True 
 B)False

Question 19

RBC wants to understand what value propositions make sense to which customers. When the bank discovered that it sometimes makes sense to tell a customer her or she is not using the right service, even if that services generates less revenue in the short term, it was acting on a

Accepted Answer

A)   return on quality.
B)   customer lifetime value.
C)   leverageable advantage.
D)   competitive advantage.
E)   customer profitability analysis.

Question 20

When managers at companies like Cisco Systems, Petro-Canada, and eBay seeks profits, what should they consider as their company's only true "profit centre"?

Accepted Answer

Smart managers believe the customer is t...

Exam 5: Creating Long term Loyalty Relationships

Any competitive advantage must be seen by customers as a customer advantage.

Correct Answer
verified

When managers at companies like Cisco Systems, Petro-Canada, and eBay seeks profits, what should they consider as their company's only true "profit centre"?

Correct Answer
verified
Smart managers believe the customer is t...
View Answer

The 20-80-30 rules reflects the idea that

Correct Answer
verified

Using European automobile giant Volvo as your illustration, create a value proposition for the company. Be sure to base your proposition on established company core positions and values.

Correct Answer
verified
Students may have several answers;howeve...
View Answer

Discuss the differences between customer equity and brand equity.

Correct Answer
verified
Customer equity is the total of the disc...
View Answer

Cellular carriers are plagued by "spinners," customers who switch carriers at least three times a year looking for the best deal. List some of the reasons by defecting customers.

Correct Answer
verified
These include unmet needs and ...
View Answer

________ is an organization-wide approach to continuously improving the quality of all the organization's processes, products, and services.

Correct Answer
verified

Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing. Name and explain the four steps?

Correct Answer
verified
The four steps are:(1)identify your pros...
View Answer

Correct Answer
verified
Five ways to use a database for marketin...
View Answer

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

Correct Answer
verified

RBC wants to understand what value propositions make sense to which customers. When the bank discovered that it sometimes makes sense to tell a customer her or she is not using the right service, even if that services generates less revenue in the short term, it was acting on a

Correct Answer
verified

________ is the practice of marketing to consumers only after gaining their expressed permission.

Correct Answer
verified

Of customers who register a complaint, ________.

Correct Answer
verified

The Shoppers Optimum card allows users to accumulate points to apply toward free goods at Shoppers Drug Mart, This is a very successful and recognized

Correct Answer
verified

The ________ consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering.

Correct Answer
verified

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

Correct Answer
verified

The drive in world markets to produce superior goods has led some countries to recognize or award prizes. What is the name of Japan's prize for developing quality products?

Correct Answer
verified

Firms that adopt primarily a cost reduction emphasis perform better than firms that adopt primarily a revenue expansion emphasis.

Correct Answer
verified

Ninety-five percent of dissatisfied customers don't complain; they just stop buying.

Correct Answer
verified

________ are adept at building customer relationships, not just products.

Correct Answer
verified

Exam 5: Creating Long term Loyalty Relationships

Any competitive advantage must be seen by customers as a customer advantage.

Correct AnswerverifiedShow Answer

When managers at companies like Cisco Systems, Petro-Canada, and eBay seeks profits, what should they consider as their company's only true "profit centre"?

Correct AnswerverifiedSmart managers believe the customer is t...View AnswerShow Answer

The 20-80-30 rules reflects the idea that

Correct AnswerverifiedShow Answer

Using European automobile giant Volvo as your illustration, create a value proposition for the company. Be sure to base your proposition on established company core positions and values.

Correct AnswerverifiedStudents may have several answers;howeve...View AnswerShow Answer

Discuss the differences between customer equity and brand equity.

Correct AnswerverifiedCustomer equity is the total of the disc...View AnswerShow Answer

Cellular carriers are plagued by "spinners," customers who switch carriers at least three times a year looking for the best deal. List some of the reasons by defecting customers.

Correct AnswerverifiedThese include unmet needs and ...View AnswerShow Answer

________ is an organization-wide approach to continuously improving the quality of all the organization's processes, products, and services.

Correct AnswerverifiedShow Answer

Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing. Name and explain the four steps?

Correct AnswerverifiedThe four steps are:(1)identify your pros...View AnswerShow Answer

Correct AnswerverifiedFive ways to use a database for marketin...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

RBC wants to understand what value propositions make sense to which customers. When the bank discovered that it sometimes makes sense to tell a customer her or she is not using the right service, even if that services generates less revenue in the short term, it was acting on a

Correct AnswerverifiedShow Answer

________ is the practice of marketing to consumers only after gaining their expressed permission.

Correct AnswerverifiedShow Answer

Of customers who register a complaint, ________.

Correct AnswerverifiedShow Answer

The Shoppers Optimum card allows users to accumulate points to apply toward free goods at Shoppers Drug Mart, This is a very successful and recognized

Correct AnswerverifiedShow Answer

The ________ consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The drive in world markets to produce superior goods has led some countries to recognize or award prizes. What is the name of Japan's prize for developing quality products?

Correct AnswerverifiedShow Answer

Firms that adopt primarily a cost reduction emphasis perform better than firms that adopt primarily a revenue expansion emphasis.

Correct AnswerverifiedShow Answer

Ninety-five percent of dissatisfied customers don't complain; they just stop buying.

Correct AnswerverifiedShow Answer

________ are adept at building customer relationships, not just products.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Smart managers believe the customer is t...
View Answer

Correct Answer
verified

Correct Answer
verified
Students may have several answers;howeve...
View Answer

Correct Answer
verified
Customer equity is the total of the disc...
View Answer

Correct Answer
verified
These include unmet needs and ...
View Answer

Correct Answer
verified

Correct Answer
verified
The four steps are:(1)identify your pros...
View Answer

Correct Answer
verified
Five ways to use a database for marketin...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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