Deck 24: Brand and Customer Metrics

Question 1

The SERVQUAL score for a product is the difference between the perception of the dimension and the expectation.

Answer 1

False

Question 2

Perceived quality is a dimension of brand equity

Answer 2

True

Question 3

Buyer-centric organizations focus only on maximizing sales and margins.

Answer 3

False

Question 4

Marketing Intelligence increases potential value of a customer who has a positive customer service experience.

Question 5

In Buyer-centric marketing, buyers take center-stage and they spell out their needs.

Question 6

Price premium for a brand is the only way to quantify brand equity

Question 7

Customer-centric marketing that would build mutually beneficial relationships over time using all points of interaction.

Question 8

A delighted customer costs less to service, stays longer and buys more.

Question 9

Loyal customer are necessarily profitable customers

Question 10

In order to maximize profit companies need to target its loyal customers as they are always profitable

Question 11

A market based competitive assessment is a direct comparison with a few target competitors.

Question 12

Delighted customers need an incentive to repurchase a product or service.

Question 13

Brand-equity assets don't have the potential to provide a brand with a price premium

Question 14

A process based competitive assessment is evaluating the processes employed by the company to compete in the marketplace.

Question 15

In addition to increased value and profits, Buyer-centric companies focus on consumer information, attention and emotional commitment.

Question 16

Efficiency and profitability of corporations do not always translate into corresponding value addition for consumers.

Question 17

Customer satisfaction measures attempt to provide a quantitative interpretation of customers' feelings and attitudes in response to their experiences with a company's products/services.

Question 18

Marketing Intelligence tools provide a wealth of information related to track customers' buying patterns, individual preferences and satisfaction levels.

Question 19

Satisfaction research should be conducted at planned intervals so as to track satisfaction over time

Question 20

Brand equity is defined as a set of brand assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service to the firm's customers and/or to that firm's customers.

Question 21

Which one of the following is a process-based method of assessing competitive advantage?

A)Market share
B)Recall share
C)R&D share
D)Marketing skills audit
E)Advertising share

Question 22

Which of the following deals with the analysis of strategic and tactical organizational applications to ensure the effective actions of design, sampling, and reporting?

A)Discovering what is important to customers and employees
B)Measuring critical needs
C)Defining goals and how information will be used
D)Acting on the information
E)Measuring performance over time

Question 23

Buyer‐centric companies help consumers maximize the value they realize within the marketplace by doing all the following except:

A)Provide services that help customers make informed decisions on buying better and cheaper products more easily
B)Help buyers to buy rather than help sellers to sell
C)Help consumers maximize the efficiency, productivity, and marketable value of personal assets as money, time, information, attention and emotional commitment
D)Maximizing the efficiency, productivity, and marketable value of corporate assets such as money, property, raw materials, technology, skills, and know‐how
E)Present offerings relevant to the buyer's unique individual characteristics and that recognize what customers currently seek to achieve

Question 24

Which is the first step in customer satisfaction measurement process?

A)Measure critical needs
B)Act on the information
C)Define goals and specify how information will be used
D)Discover what is important to customers and employees
E)Measure performance over time

Question 25

Which one of the following does not pertain to a process based method of assessing competitive advantage?

A)Marketing skills audit
B)Recall share
C)Comparison of winning versus losing competitors
D)Relative costs comparison
E)Identifying high leverage phenomena

Question 26

A survey that provides a direct measure of the brand name's value is called

A)Excess-price approach
B)Market-based assessment
C)Dollarmetric scale
D)Trade off analysis
E)None of these

Question 27

Prevention of attrition of customers is an equally important task like customer acquisition in a firm's customer management strategy Multiple Choice

Question 28

Which one of the following does not pertain to a market based method of assessing competitive advantage?

A)Market share
B)Recall share
C)R&D share
D)Relative cost comparison
E)Advertising share

Question 29

Which is the final step in customer satisfaction measurement process?

A)Measure critical needs
B)Act on the information
C)Define goals and specify how information will be used
D)Measure performance over time
E)Discover what is important to customers and employees

Question 30

Which is the first step in customer lifetime value CLV) maximization cycle?

A)Pitching the Right Product to the Right Customer at the Right Time
B)Managing Loyalty and Profitability Simultaneously
C)Customer Selection
D)Optimal Allocation of Resources
E)Preventing Customer Attrition

Question 31

The percentage of customers who name the brand that comes to their mind when considering buying a particular type of product is referred to as

A)Market share
B)Recall share
C)Advertising share
D)R&D share

Question 32

Which of the following are benefits of Buyer-centric marketing?

A)Opportunities from new growth sectors
B)Increased value of the corporation and its assets
C)Reduced marketing research expense since customers specify needs
D)Enhanced trust with customers
E)All of the above

Question 33

Which one of the following does not represent an asset underlying the equity of a brand?

A)Brand loyalty
B)Name awareness
C)Perceived quality
D)Cost of the brand
E)Proprietary assets such as patents, trademarks, etc.

Question 34

A Buyer-centric organizations' approach to offering products and services include

A)Providing solutions that empower customers to make informed decisions.
B)Providing solutions that closely reflect customer preferences
C)Helping customers to maximize efficiency, productivity and marketable value of personal assets
D)All of the above