general business data bank

Question # 00003439 Posted By: spqr Updated on: 11/12/2013 01:17 AM Due on: 11/29/2013
Subject Marketing Topic Marketing Tutorials:
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1. The three drivers of customer equity are: value equity, brand equity, and ________ equity.

a. relationship

b. revenue

c. quality

d. price

e. product

2. Sub-drivers of relationship equity include all of the following EXCEPT ________.

a. loyalty programs

b. special recognition and treatment programs

c. community building programs

d. knowledge-building programs

e. price protection programs

3. An alternative formulation to customer equity is provided by Blattberg, Getz, and Thomas. They view customer equity as being driven by three components: acquisition, ________, and add-on selling.

a. satisfaction

b. retention

c. perceived value

d. quality

e. pricing

4. ________ is seen as the cumulative value of the firm’s network of relationships with its customers, partners, suppliers, employers, and investors.

a. Responsive equity

b. Market equity

c. Relational equity

d. Strategic equity

e. Satisfaction equity

5. The ability of a company to meet each customer’s requirements—to prepare on a mass basis individually designed products, services, programs, and communications, is referred to as ________.

a. proactive customer service

b. individualization

c. mass customization

d. competitive advantage

e. target market customization

6. A customer touch point in the airline industry would include an item such as ________.

a. reservations

b. mechanics ability to service the airplanes

c. ease of access to the airport

d. the value of air travel versus surface transportation

e. competency of a travel agent

7. All of the following would be among the Peppers and Rogers’s four-step framework for one-to-one marketing that can be adapted to CRM marketing EXCEPT ________.

a. customizing products, services, and messages to each customer

b. interacting with individual customers to learn their needs

c. always offering the lowest price

d. differentiating customers in terms of their needs and value to the company

e. identify your prospects and customers

8. Winning companies improve the value of their customer base by excelling at strategies listed below EXCEPT ________.

a. eliminating low-profit customers immediately

b. reducing the rate of customer defection

c. increasing the longevity of the customer relationship

d. making low-profit customers more profitable or terminating them

e. focusing disproportionate efforts on high-value customers

9. Which of the following is a characteristic of one-to-one marketing?

a. Mass promotion

b. Standard product

c. Two-way messages

d. Share of market

e. Customer attraction

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

a. retention

b. defection

c. value

d. perception

e. belief

11. Markets can be characterized by their long-term buying dynamics and how easily and often customers can enter and leave. In ________, customers can leave and come back.

a. permanent capture markets

b. simple retention markets

c. advocate markets

d. simple competitive markets

e. customer migration markets

12. In ________ marketing, the salesperson contacts the customer from time to time with suggestions about improved product uses or new products.

a. accountable marketing

b. proactive marketing

c. reactive marketing

d. partnership marketing

e. basic marketing

13. Most company’s practice only ________ when their markets contain many customers and their unit profit margin(s) are small.

a. reactive marketing

b. partnership marketing

c. basic marketing

d. proactive marketing

e. accountable marketing

14. In markets with few customers and high profit margins, most sellers will move toward ________ marketing.

a. reactive marketing

b. partnership marketing

c. basic marketing

d. proactive marketing

e. accountable marketing

15. The CRM (customer relationship management) imperative is characterized by five steps or factors. All of the following would be among those steps or factors 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

16. 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

17. Frequency marketing is an acknowledgment of the fact that 20 percent of a company’s customers might account for ________ percent of its business.

a. 50

b. 70

c. 40

d. 80

e. 90

18. Companies who try to increase a customer’s likelihood to repurchase a product may try to create long-term contracts, turn the product into a long-term service, and ________.

a. send frequent surveys

b. offer coupons

c. charge lower prices to customers who purchase large supplies

d. request the customer join their loyalty program

e. encourage customers to purchase in greater frequency

19. 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 markets

20. 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

21. 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

22. 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

23. A ________ would contain such items as past volumes, prices, profits, buyer team names, 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

24. 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

25. James Everett is a telemarketer. He can use his company’s ________ to respond to customer inquiries more effectively because of his ability to 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

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