Question 1

Location, delivery services, effective use of easy-to-use technology and multiple communication options are examples of:

Accepted Answer

The answer of Location, delivery services, effective use of easy-to-use...

Question 2

Time compression management (TCM) involves:

Accepted Answer

Time compression management (TCM) involves speeding up various processes in a company to reduce the overall time it takes to bring a product to market, fulfill customer orders, and respond to customer needs. This includes speeding up new product development, streamlining administrative processes, and shortening manufacturing and delivery times to improve customer response times. Therefore, the best choice is D, which encompasses all of these aspects of TCM.

Question 3

Which of the following is not a suggestion of a means of focusing on the customer?

Accepted Answer

The answer of Which of the following is not a...

Question 4

The key ingredient in the superior customer service equation is:

Accepted Answer

The key ingredient in the superior customer service equation is friendly, courteous, well-trained people delivering customer service. While the other options (state-of-the-art equipment, standards and measurements of customer service, and the support of managers) can support good customer service, it ultimately comes down to the individuals who are interacting with the customers. They need to have the right attitude and training to provide excellent customer service.

Question 5

Companies with strong reputations for quality follow certain guidelines, such as:

Accepted Answer

The answer of Companies with strong reputations for quality follow...

Question 6

A marketing strategy that relies on three principles to speed products to market, shorten customer response times in manufacturing, and deliver and reduce the administrative time required to fill an order is:

Accepted Answer

The marketing strategy described is time compression management (TCM), which focuses on speeding up the process from product development to delivery to the customer in order to reduce time and costs. TQM focuses on improving product quality, CEM focuses on improving the customer experience, and guerilla marketing is a non-traditional and unconventional marketing approach.

Question 7

A recent survey reports that ________ percent of customers say that they will return to a business after a negative customer service experience if the company offers an apology, a discount, or proof that its customer service will improve.

Accepted Answer

The answer of A recent survey reports that ________ percent...

Question 8

Companies with a customer focus typically ask their customers all but which of the following questions?

Accepted Answer

Companies with a customer focus typically do not ask their customers about their competitors.

Question 9

Which of the following is not a suggestion for using time compression management (TCM) to turn speed into a competitive advantage?

Accepted Answer

Paying workers more for doing their jobs the same way but faster does not align with the principles of TCM, which is focused on finding ways to do things more efficiently and effectively. This suggestion could potentially result in workers rushing through tasks and sacrificing quality for speed, which would not be in the best interest of the company or its customers.

Question 10

A study by the National Science Foundation concluded that when pay is linked to performance, employees' motivation and productivity climb by as much as ________ percent.

Accepted Answer

The answer of A study by the National Science Foundation...

Question 11

A global customer loyalty consulting firm reports that a company must land ________ to ________ new customers to offset the impact of one lost loyal customer.

Accepted Answer

According to the statement, a company must land 12 to 20 new customers to offset the impact of one lost loyal customer.

Question 12

The total quality management (TQM) concept:

Accepted Answer

The TQM concept is focused on achieving quality not just in the product or service itself, but in every aspect of the business and its relationship with the customer. TQM involves a company-wide approach to continuously improving all aspects of the organization, from the design of products and services to customer service and support. It does not rely solely on quality inspections through an army of inspectors, nor does it solely focus on reducing fulfillment time.

Question 13

The process of systematically creating the optimum experience for customers every time they interact with the company is:

Accepted Answer

The process described in the statement is customer experience management (CEM), which focuses on creating a positive and consistent experience for customers across all touchpoints with a company. Total quality management (TQM) is a broader approach to quality that includes all aspects of a company's operations, not just customer experience. Time compression management (TCM) is a strategy for reducing the time needed to design, produce, and deliver products. Guerilla marketing is a creative and unconventional marketing approach that often relies on low-cost tactics to draw attention to a brand.

Question 14

Which of the following is a way to improve customer service?

Accepted Answer

Encouraging customers to complain can help identify areas for improvement and address specific customer complaints. Asking employees for feedback can provide valuable insight into their interactions with customers and potential areas for improvement. Developing a service theme that communicates the importance of customer service can help establish a customer-centric culture within the company. Combining all three approaches can lead to a comprehensive improvement in customer service.

Question 15

Research shows that repeat customers spend ________ percent more than new customers.

Accepted Answer

The answer of Research shows that repeat customers spend ________...

Question 16

________ is the key to future success and small companies can detect and act on new opportunities faster than large companies.

Accepted Answer

Innovation is the key to future success because it allows a company to stay ahead of competitors and continuously improve their products and services. Small companies often have an advantage in innovation because they are agile and can quickly adapt to changing market trends and new opportunities. Large companies may struggle to implement innovative ideas due to bureaucracy and the need for extensive planning and approval processes.

Question 17

________ pay the bills: without them, you have no business.

Accepted Answer

Customers are the ones who pay the bills by purchasing goods or services from the business. Therefore, without customers, a business would have no revenue and would not be able to operate.

Question 18

In your training program, you stress to all new employees the importance of customer satisfaction, citing the fact that ________ of the average company's sales come from present customers.

Accepted Answer

Studies have shown that the majority of a company's sales come from present customers. Therefore, it is important to prioritize customer satisfaction to retain and grow that customer base.

Question 19

The philosophy of producing a high-quality product or service and achieving quality in every aspect of the business and its relationship with the customer, with a focus on continuous improvement in the quality delivered to customers is.

Accepted Answer

The philosophy described in the statement is total quality management, which emphasizes the importance of producing a high-quality product or service, achieving quality in every aspect of the business and its relationship with the customer, and continuously improving the quality delivered to customers. Time compression management, guerilla marketing, and customer experience management do not specifically address this philosophy.

Question 20

What can a company do to achieve stellar customer service and satisfaction?

Accepted Answer

All of the choices are important in achieving stellar customer service and satisfaction. Listening to customers allows the company to understand their needs and expectations, defining superior service ensures consistency and clarity in providing excellent service, and hiring friendly and courteous sales and service representatives creates a positive and memorable customer experience.

Quiz 8: Building a Powerful Marketing Plan