Question 1

When a consumer considers a product or service,he or she will choose whichever product or service delivers the highest ________.

Accepted Answer

Customer-perceived value is the benefit that a customer believes they will receive from a product or service, compared to the cost or alternative options. Therefore, a consumer is more likely to choose a product or service that they perceive as delivering the highest value for the cost.

Question 2

Field Grocery is considering using _________ to pose as customers and report on strong and weak points in customer service at Field Grocery stores.

Accepted Answer

Mystery shoppers are individuals who pose as customers to provide feedback on the quality of service and products offered by an organization. This feedback can help the organization identify areas for improvement and enhance customer satisfaction. Intelligence agents and covert operatives are typically associated with espionage and are not appropriate for this scenario. Market mavens and opinion leaders are individuals who influence the buying decisions of others but do not provide feedback on customer service.

Question 3

Peppers and Rogers outline a four-step framework for one-to-one marketing that can be adapted to CRM marketing.What are those four steps

Accepted Answer

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Question 4

Immediately below the customers in a modern customer-oriented organization chart,we would expect to find the ________ of an organization.

Accepted Answer

Frontline people, such as salespeople or customer service representatives, are typically the first point of contact with customers and are responsible for delivering the organization's products or services. They are therefore positioned directly below the customers on the organization chart to emphasize their critical role in meeting customer needs. Top management and middle management may be involved in setting overall strategy and policies, while marketing and service departments may support the frontline staff, but they are not as directly involved in customer interactions.

Question 5

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

The answer of Assume that a marketing manager of a...

Question 6

Whether the buyer is satisfied after purchase depends on the offer's performance in relation to the ________.

Accepted Answer

The satisfaction of the buyer after purchase depends on the offer's performance in relation to the buyer's expectations. The buyer's expectations refer to what they thought they would get from the product or service based on the marketing communication, brand reputation, and word-of-mouth recommendations. If the product or service fails to meet or exceed the buyer's expectations, they may be dissatisfied, leading to negative reviews, complaints, and decreased loyalty. Therefore, it is crucial for marketers to understand and manage customer expectations to enhance customer satisfaction and loyalty.

Question 7

________ is defined as "a deeply held commitment to rebuy or repatronize a preferred product or service in the future despite situational influences and marketing efforts having the potential to cause switching behavior."

Accepted Answer

The definition provided is a classic definition of customer loyalty. Customer satisfaction refers to a customer's overall contentment with a product or service, but it does not necessarily mean they will remain loyal. Customer value refers to the perceived benefits a customer receives from a product or service in relation to the cost. Customer profitability refers to the amount of profit a company generates from a customer over time. Quality refers to the level of excellence or superiority of a product or service. Only loyalty fits the definition given.

Question 8

Compare and contrast the traditional organization chart for an organization against the modern customer-oriented organization chart.

Accepted Answer

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Question 9

Differentiate between performance quality and conformance quality.Give an example of two products that have different performance quality but are of equal conformance quality.

Accepted Answer

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Question 10

Today,companies are increasingly concerned about customer defection.There are three main steps a company can take to reduce the defection rate.Characterize those three steps.

Accepted Answer

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Question 11

If a company were to focus its marketing efforts on all the experiences the customer will have on the way to obtaining and using the offering,it would be focusing its marketing efforts on the customer's ________.

Accepted Answer

Focusing on all the experiences the customer will have on the way to obtaining and using the offering is essentially focusing on the value delivery system. This includes everything from the ease of purchase, delivery, installation, usage, and after-sales support. By focusing on the value delivery system, the company is working towards delivering a superior customer experience, which can lead to customer loyalty and positive word-of-mouth marketing.

Question 12

Buyers do not always make logical or rational decisions.They might purchase the most expensive and least quality item for example.Which of the following would be another good example of this behavior

Accepted Answer

The buyer's decision to buy at the lowest price, even if it means sacrificing quality, is not always a logical or rational decision.

Question 13

A key driver of shareholder value is the aggregate value of the customer base.Identify the five strategies employed by winning companies to improve the value of their customer base.

Accepted Answer

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Question 14

Discuss the concepts of a data warehouse and datamining.

Accepted Answer

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Question 15

All of the following are considered to be customer costs EXCEPT ________.

Accepted Answer

All the options listed are considered customer costs, including financial, time, and social risk costs.

Question 16

The case for maximizing long-term customer profitability is captured in the concept of customer lifetime value.How is customer lifetime value calculated

Accepted Answer

The answer of The case for maximizing long-term customer profitability...

Question 17

John Chambers,CEO of Cisco Systems,said,"Make your customer the center of your culture." Customer-centered companies are adept at building customer relationships,not just producing products; they are skilled in ________,not just product engineering.

Accepted Answer

The answer of John Chambers,CEO of Cisco Systems,said,"Make your customer...

Question 18

Buyers form expectations in all of the following ways EXCEPT ________.

Accepted Answer

Inherited traits are not a method by which buyers form their expectations. Buyers may form their expectations from past buying experience, advice from friends and associates, information from marketers, and information from competitors.

Question 19

Describe four situations or cases when building a customer database would not be worthwhile for a company.

Accepted Answer

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Question 20

Provide a customer-centered definition of the term quality.

Accepted Answer

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Quiz 5: Creating Customer Value, Satisfaction, and Loyalty