Question 1

Knowing that customers who sort by highest rating on the Petco Web site stay longer,spend more,and return less is probably a result of applying

Accepted Answer

Recency-frequency-monetary analysis determines which customers have bought recently,bought frequently,or spent a certain amount of money.

Question 2

Petco edits some of the reviewer posts in order to quell negative comments.

Accepted Answer

Petco edits reviewer posts to protect privacy (personal information)and to limit spam (rival companies and URLS).

Question 3

As customers shop,they look at all the various reviews.If they continue to look at the positive reviews after making a purchase in order to reassure themselves they made the right choice,this serves what purpose?

Accepted Answer

By continuing to look at positive reviews,customers are reducing cognitive dissonance and the Web site is reinforcing the purchase decision.

Question 4

You have decided your business should adopt a CRM marketing approach.You have invested in computer software that captures customer data such as name,address,age,education,and lifestyle characteristics.Now,you find many customers are reluctant to provide you with such information.What are the general consumer concerns regarding this issue,and how could you address these concerns?

Accepted Answer

The answer of You have decided your business should adopt...

Question 5

Petco executive John Lazarchic says that critical reviews from the Web site instigate changes.This suggests that Petco is a customer-centric organization.

Accepted Answer

The statement suggests that Petco values customer feedback and uses it to make improvements, indicating that they prioritize the needs and satisfaction of their customers, making them a customer-centric organization.

Question 6

Petco gathers customer e-mails from in-store customers and then e-mails them.This would be using a knowledge management system.

Accepted Answer

Petco gathers the information at a point-of-sale touch point and then uses the e-mails for marketing purposes.

Question 7

The knowledge that the customers who post reviews on Petco's Website are generally women with higher levels of education and income likely came from database enhancement.

Accepted Answer

Database enhancement refers to the process of adding additional information to a customer database, such as demographics or purchase history. By analyzing this information, patterns and trends can be identified, such as the fact that Petco's Website reviewers are primarily women with higher levels of education and income.

Question 8

The original idea to get customers to rate and review products on Petco's Web site helped Petco understand who was using their site.Which step in the CRM cycle is this?

Accepted Answer

Petco used its review system to identify relationships with existing customers.

Question 9

Petco is leveraging the Web site and the reviews as campaign management.

Accepted Answer

Petco is using their website and customer reviews as a form of campaign management, allowing them to gather customer feedback and use it to improve their products and services.

Question 10

Petco seems to appreciate some number of negative reviews because customers often go on to purchase a higher quality and more expensive product recommended by the reviewer.This is a type of

Accepted Answer

Reviewers suggesting a different,better product is a type of cross-selling.

Question 11

What is RFID technology? Explain why it is used and how it works,and describe the main implication of this technology.

Accepted Answer

The answer of What is RFID technology? Explain why it...

Quiz 21: Customer Relationship Management Crm