saint MBA565 quiz 2

saint MBA565 quiz 2

Question
	
1.CRM technology can help motivate employees by ________. (Points : 5)
 analyzing customer revenue and cost data to identify current and future high-value customers
 better targeting the company's direct marketing efforts
 tracking customer-service satisfaction levels
 aligning employee incentives and metrics
 developing new pricing models

Question 2.2.Winning companies improve the value of their customer base by excelling at each of the following strategies EXCEPT ________. (Points : 5)
 retaining all customers regardless of profitability
 reducing the rate of customer defection
 increasing the longevity of the customer relationship
 making low-profit customers more profitable or terminating them
 focusing disproportionate efforts on high-value customers

Question 3.3.Harley-Davidson sells more than motorcycles and accessories. Its dealerships also sell branded clothing and licensed goods. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________. (Points : 5)
 reducing the rate of customer defection
 increasing the longevity of the customer relationship
 enhancing the growth potential of each customer through cross-selling
 making low-profit customers more profitable
 terminating low-profit customers

Question 4.4.Which of the following would be the best illustration of a subculture? (Points : 5)
 A religion
 A group of close friends
 Your university
 A fraternity or sorority
 Your occupation

Question 5.5.All of the following are methods to form strong customer bonds EXCEPT ________. (Points : 5)
 creating superior products, services, and experiences for the target market
 making it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaints
 organizing and making accessible a database of information on individual customer needs, preferences, contacts, purchase frequency, and satisfaction
 running award programs recognizing outstanding employees
 concentrating the planning and management of the customer satisfaction and retention process within the marketing department

Question 6.6.________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives. (Points : 5)
 Perceived usefulness
 Failure avoidance rate
 Report rating
 Customer-perceived value
 Competitors' market share rate

Question 7.7.All of the following are examples of the perils of CRM EXCEPT ________. (Points : 5)
 implementing CRM before creating a customer strategy
 the enormous cost that might eventually drain significant profits from the organization
 rolling out CRM before changing the organization to match
 assuming more CRM technology is better
 stalking, not wooing, customers

Question 8.8.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? (Points : 5)
 To deepen customer loyalty
 To reactivate customer purchases
 To avoid serious customer mistakes
 To determine if up-selling is appropriate
 To identify prospects

Question 9.9.The ultimate goal of the customer-centered firm is ________. (Points : 5)
 high customer satisfaction
 high profits
 low costs
 maximum stakeholder satisfaction
 none of the above

Question 10.10.Which of the following is considered to be one of the four problems that can deter a firm from using CRM (customer relationship marketing)? (Points : 5)
 Competitors can often hack into CRM systems.
 Building and maintaining a customer database requires a large investment.
 It is very difficult to find and train database employees.
 Long-term results of such systems are still unproven.
 Focusing too much on databases separates a company from its customers.

Question 11.11.All of the following would be considered to be strategies for approaching consumers who had rejected your company's model of a product for another competitive brand EXCEPT ________. (Points : 5)
 redesign your company's product
 alter beliefs about your company's brand
 covertly alter the qualitative data about your product
 alter beliefs about competitors' brands
 call attention to neglected attributes

Question 12.12.Using 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. (Points : 5)
 data warehouse
 call back list
 call rejection list
 corporate database
 Better Business Bureau contacts

Question 13.13.Most companies have learned that the ________ are often the most profitable because of service expectations and their willingness to pay alm
ost full price. (Points : 5)
 large-size customers
 midsize customers
 small-size customers
 niche customers
 target market customers

Question 14.14.With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes. (Points : 5)
 conjunctive
 lexicographic
 elimination-by-aspects
 primary
 secondary

Question 15.15.People choose products that reflect and communicate their role and actual or desired ________ in society. (Points : 5)
 group
 status
 attitudes
 beliefs
 feelings

Question 16.16.The 20-80 rule reflects the idea that ________. (Points : 5)
 the top 20% of customers often generate 80% of the company's profits
 the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend
 20% of customers are unprofitable, and 80% make up a company's profits
 20% of the company's profits are generated by the top 80% of customers
 any new product offering will be accepted by 20% of the customers immediately, but 80% of the customers will be up for grabs throughout the product's life cycle

Question 17.17.A customer touch point in the airline industry would include an item such as ________. (Points : 5)
 reservations
 mechanics' ability to service the airplanes
 ease of access to the airport
 the value of air travel versus surface transportation
 competency of a travel agent

Question 18.18.Steve has only 20 minutes to get lunch. Although he really likes McDonald's, the line is very long and he is concerned that he will not have a chance to get through the line and eat his lunch before he is due back at work. Steve perceives ________ in going to McDonald's today. (Points : 5)
 time risk
 functional risk
 physical risk
 psychological risk
 social risk

Question 19.19.Amy and Jack were loyal customers of GreenFoods, a local grocery store. However, after a couple of incidents where they had to return products that were stale and out of date, the couple decided to try out VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack must move through each stage in the marketing funnel before becoming loyal customers.

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. (Points : 5)
 aware
 open to trial
 most often used
 nonrejecter
 regular user

Question 20.20.The ________ says people have a general tendency to attribute success to themselves and failure to external causes. (Points : 5)
 availability heuristic
 trait-role theory
 awareness set
 anchoring heuristic
 hedonic bias