Question 1

When a company has doubtful positioning,consumers view the claims made by the company as ________.

Accepted Answer

Doubtful positioning is when the claims made for the product or brand are not regarded as credible by consumers.

Question 2

When consumers have too narrow an understanding of the company,brand,or product,it is called ________.

Accepted Answer

Overpositioning is when consumers have too narrow an understanding of the company, product, or brand.

Question 3

Customer loyalty is defined as ______________.

Accepted Answer

Customer loyalty means the degree to which an individual will resist switching, or defecting, from one offering to another.

Question 4

_______________ is the third element in the process cycle for CRM.

Accepted Answer

The process cycle for CRM may be divided into the following four elements: (1) knowledge discovery, (2) market planning, (3) customer interaction, and (4) analysis and refinement.

Question 5

_______________ is the first element in the process cycle for CRM.

Accepted Answer

The process cycle for CRM may be divided into the following four elements: (1) knowledge discovery, (2) market planning, (3) customer interaction, and (4) analysis and refinement.

Question 6

CRM is _______________.

Accepted Answer

Customer relationship management (CRM) is a comprehensive business model for increasing revenues and profits by focusing on customers.

Question 7

Customer satisfaction is defined as ________________.

Accepted Answer

Customer satisfaction means the level of liking an individual harbors for an offering-that is, to what level is the offering meeting or exceeding the customer's expectations?

Question 8

Garrett is moving into retirement and wants to cut his client base in half so he can work part time.In deciding which customers to keep,Garrett should look at the monetary prediction called _______________.

Accepted Answer

One of the most important metrics in CRM is that of the lifetime value of a customer. Fredrick Reichheld in his books on customer loyalty has demonstrated time and again that investment in CRM yields more successful long-term relationships with customers, and that these relationships pay handsomely in terms of cost savings, revenue growth, profits, referrals, and other important business success factors.

Question 9

When a company tries to make the product or service significantly easier to obtain than the competition,it is employing ______.

Accepted Answer

Convenience leadership is making the product or service significantly easier to obtain.

Question 10

The CRM process cycle may be divided into _____ elements.

Accepted Answer

The process cycle for CRM may be divided into the following four elements: (1) knowledge discovery, (2) market planning, (3) customer interaction, and (4) analysis and refinement.

Question 11

CRM stands for _________________.

Accepted Answer

Customer relationship management (CRM) is a comprehensive business model for increasing revenues and profits by focusing on customers.

Question 12

_______________ is the fourth element in the process cycle for CRM.

Accepted Answer

The process cycle for CRM may be divided into the following four elements: (1) knowledge discovery, (2) market planning, (3) customer interaction, and (4) analysis and refinement.

Question 13

Tiffany's offers many pieces of jewelry at prices below $200.Many consumers would never enter the store because they think the store's jewelry costs thousands of dollars.Tiffany's is suffering from the error of ______.

Accepted Answer

Overpositioning is when consumers have too narrow an understanding of the company, product, or brand.

Question 14

In the 1970s,Michelob beer changed its advertising messages frequently and saw sales plummet.Slogans like "Weekends were made for Michelob," "Put a little weekend into your weekday," and "Special times deserve a special beer" had consumers checking their calendars to find the right time to drink a Mich.Michelob was suffering from _________.

Accepted Answer

Confused positioning is when frequent changes and contradictory messages confuse consumers regarding the positioning of the brand.

Question 15

When customers struggle to identify salient points of differentiation between a brand and its competitors,the brand is suffering from _____________________.

Accepted Answer

Underpositioning occurs when consumers have only a vague idea about the company and its products, and do not perceive any real differentiation.

Question 16

_______________ is the second element in the process cycle for CRM.

Accepted Answer

The process cycle for CRM may be divided into the following four elements: (1) knowledge discovery, (2) market planning, (3) customer interaction, and (4) analysis and refinement.

Quiz 6: Segmentation, target Marketing, Positioning, and CRM

When a company has doubtful positioning,consumers view the claims made by the company as ________.

When consumers have too narrow an understanding of the company,brand,or product,it is called ________.

Customer loyalty is defined as ______________.

_______________ is the third element in the process cycle for CRM.

_______________ is the first element in the process cycle for CRM.

CRM is _______________.

Customer satisfaction is defined as ________________.

Garrett is moving into retirement and wants to cut his client base in half so he can work part time.In deciding which customers to keep,Garrett should look at the monetary prediction called _______________.

When a company tries to make the product or service significantly easier to obtain than the competition,it is employing ______.

The CRM process cycle may be divided into _____ elements.

CRM stands for _________________.

_______________ is the fourth element in the process cycle for CRM.

Tiffany's offers many pieces of jewelry at prices below $200.Many consumers would never enter the store because they think the store's jewelry costs thousands of dollars.Tiffany's is suffering from the error of ______.

When customers struggle to identify salient points of differentiation between a brand and its competitors,the brand is suffering from _____________________.

_______________ is the second element in the process cycle for CRM.