general business data bank

Question # 00003315 Posted By: spqr Updated on: 11/09/2013 01:02 PM Due on: 11/28/2013
Subject Marketing Topic Marketing Tutorials:
Dot Image

1. Another term for high customer ________ is customer churn.

a. retention

b. defection

c. value

d. perception

e. belief

2. People with the motivation, ability, and opportunity to make a purchase are known as ________.

a. potentials

b. advocates

c. members

d. prospects

e. partners

3. Customers who enthusiastically recommend the company and its products and services to others are known as ________.

a. potentials

b. advocates

c. members

d. prospects

e. partners

4. Satisfied customers constitute the company’s ________.

a. customer relationship capital

b. customer churn

c. prospects

d. high-value customers

e. customer touch points

5. Acquiring new customers can cost ________ times more than satisfying and retaining current customers.

a. two

b. three

c. five

d. seven

e. 10

6. All of the following are methods to form strong customer bonds EXCEPT ________.

a. creating superior products, services, and experiences for the target market

b. making it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaints

c. organizing and making accessible a database of information on individual customer needs, preferences, contacts, purchase frequency, and satisfaction

d. running award programs recognizing outstanding employees

e. concentrating the planning and management of the customer satisfaction and retention process within the marketing department

7. When companies provide rewards to customers who buy frequently and in substantial amounts, this is referred to as ________.

a. benefit programs

b. frequency programs

c. satisfaction programs

d. loyalty programs

e. quality programs

Typically, ________ gains the most benefit from introducing a frequency program.

f. the first company to introduce a frequency program in an industry

g. the fast follower, who is second to introduce a frequency program in an industry,

h. the industry sales leader

i. the niche player in the industry

j. the low-cost leader in the industry

8. All of the following are CRM imperatives EXCEPT ________.

a. acquiring the right customer

b. crafting the right value proposition

c. instituting the best processes

d. motivating employees

e. learning to make profits through marginal customers

9. CRM technology can help motivate employees by ________.

a. analyzing customer revenue and cost data to identify current and future high-value customers

b. better targeting the company’s direct marketing efforts

c. tracking customer-service satisfaction levels

d. aligning employee incentives and metrics

e. developing new pricing models

10. According to Stanford’s business guru Jeffery Pfeffer, “the best companies build cultures in which frontline people ________.”

a. can refer serious problems to senior management

b. have strictly limited freedom to deviate from standard operating procedures

c. are also consumers of the company’s products

d. are empowered to do what’s needed to take care of the customer

e. live in the communities they serve

11. An organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for such marketing purposes as lead generation, lead qualification, sale of a product or service, or maintenance of customer relationships is called ________.

a. a customer database

b. a customer mail list

c. target market segments

d. customer segments

e. relationship marketsa

12. The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________.

a. data warehousing

b. datamining

c. database marketing

d. custom marketing

e. electronic marketing

13. A _____________ is simply a set of names, addresses, and telephone numbers.

a. customer database

b. customer mailing list

c. call-waiting list

d. psychographic list

e. demographic list

14. A customer database should contain all of the following EXCEPT ________.

a. a customer’s past purchases

b. demographics

c. psychographics

d. mediagraphics

e. an assessment of competitive strengths and weaknesses

15. A ________ would contain such items as past volumes, prices, profits, buyer, status of current contacts, and an assessment of competitive strengths and weaknesses.

a. customer mailing list

b. contact list

c. customer database

d. business database

e. general corporate database

16. Savvy companies are capturing information every time a customer comes into contact with any of its departments. As a marketing manager all of the following would be available customer touch points for your consideration EXCEPT ________.

a. a customer purchase

b. an online query

c. a mail-in rebate card

d. an ad run on a national television network

e. a customer-requested service call

17. Using his company’s ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.

a. data warehouse

b. call back list

c. call rejection list

d. corporate database

e. Better Business Bureau contacts

18. Through ________, marketing statisticians can extract useful information about individuals, trends, and segments from the mass of data.

a. data accumulation

b. target market information supplied by the government

c. datamining

d. data management

e. data marketing

19. ________ involves the use of sophisticated statistical and mathematical techniques such as cluster analysis, automatic interaction detection, predictive modeling, and neural networking.

a. Data management

b. Data marketing

c. Target market analysis

d. Data accumulation

e. Datamining

20. In general, companies can use their databases in all of the following ways EXCEPT ________.

a. to predict competitive strategies and plans

b. to identify prospects

c. to decide which customers should receive a particular offer

d. to deepen customer loyalty

e. to avoid serious customer mistakes

21. Susan Lefferts’ company advertises widely. Ms. Lefferts uses business reply cards attached to her company’s magazine ads to build her company’s database. In which of the following ways would Ms. Lefferts most likely use the database?

a. To deepen customer loyalty

b. To reactivate customer purchases

c. To avoid serious customer mistakes

d. To determine if up-selling is appropriate

e. To identify prospects

Phil Langston has just ordered a number of expensive executive gifts that he will be sending as an appreciation token to a select few customers from his client database. In which of the following ways is Mr. Langston most likely using his database?

f. To identify prospects

g. To decide which customers should receive a new sales offer

h. To deepen customer loyalty

i. To avoid serious customer mistakes

j. To beat the competition to a sale

22. Royal Caribbean uses its ________ to offer spur-of-the-moment cruise packages to fill all the berths on its ships. It focuses on retired people and single people because they are more able to make quick commitments.

a. advertising

b. database

c. mail catalogs

d. public relations department

e. radio advertising

23. Which of the following is considered to be one of the four problems that can deter a firm from using CRM (customer relationship marketing)?

a. Competitors can often hack into CRM systems.

b. Building and maintaining a customer database requires a large investment.

c. It is very difficult to find and train database employees.

d. Long-term results of such systems are still unproven.

e. Focusing too much on databases separates a company from its customers.

24. Building a database would not be worthwhile for a company in all of the following cases EXCEPT ________.

a. where the product is a one-in-a-lifetime purchase

b. where customers show little loyalty to a brand

c. where the company already has an above average relationship with its customers

d. where the unit sale is very small

e. where the cost of gathering the information is too high

25. All of the following are examples of the perils of CRM EXCEPT ________.

a. implementing CRM before creating a customer strategy

b. the enormous cost that might eventually drain significant profits from the organization

c. rolling out CRM before changing the organization to match

d. assuming more CRM technology is better

e. stalking, not wooing, customers

Marketers from which of the following are most likely to use database marketing?

f. An airline

g. A candy bar manufacturer

h. A grand piano maker

i. A toothpaste manufacturer

j. None of the above would use database marketing.

Dot Image
Tutorials for this Question
  1. Tutorial # 00003112 Posted By: spqr Posted on: 11/09/2013 01:08 PM
    Puchased By: 2
    Tutorial Preview
    The solution of general business data bank...
    92_answe.docx (17.19 KB)

Great! We have found the solution of this question!

Whatsapp Lisa