14087917
Description
Quiz by Lorisse Bazley, updated more than 1 year ago
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Created by Lorisse Bazley
over 6 years ago
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Question 1
Question
Companies have been moving from focusing on customer ________ and ________ towards a customer ________ focus.
Answer
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service; delivery; revenue generating
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acquisition; transaction; relationship
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acquisition; service delivery; retention
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service delivery; satisfaction; marginal costing
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costs; revenue; relationship
Question 2
Question
Which of the following is NOT an example of common CRM applications?
Answer
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Data collection
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Data analysis
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Market reinvestment
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Sales force automation
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Call centre automation
Question 3
Question
Reichheld and Sasser (1990) have suggested that annual profits per customer increase every year over seven years because of various factors. Which of the following is NOT one of the factors that they discovered created incremental profits?
Answer
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Increased sales through price discounts to customers
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Profit from referrals to other customers
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Opportunities to cross-sell other services
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Profit from increased purchases
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Profit from reduced operating costs
Question 4
Question
Which of the following is NOT a segment identified in Knox’s Diamond of Loyalty?
Answer
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Loyals
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Retainers
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Habituals
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Multibranders
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Switchers
Question 5
Question
Short-term hard sell campaigns, managed for transactions not relationships, work best for ________ while partnership and preferred access programs work best for ________.
Answer
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multibranders; switchers
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switchers; multibranders
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loyals; switchers
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habituals; loyals
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switchers; loyals
Question 6
Question
Good customer relationships begin with a good fit between ________ and ________.
Answer
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profit expectations; revenue generated
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customer needs; service expectations
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customer needs; service offerings
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business objectives; profitability
Question 7
Question
Recent research has found a number of specific types of relational benefits that motivate customers to become regular customers of one service provider. Which category of benefits has been found by research to be the least important to customers in terms of value?
Answer
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Social benefits
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Special-treatment benefits
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Relationship benefits
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Loyalty benefits
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Confidence benefits
Question 8
Question
In terms of socio-cultural traits that impact on buyer-seller relationships, which of the following statements is correct?
Answer
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As compared to low-context cultures, high-context cultures put more emphasis on direct communication.
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As compared to high-context cultures, low-context cultures spend more time on discussing issues and non-task information.
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As compared to high-context cultures, low-context cultures tend to avoid confrontation and prefer harmony.
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As compared to low-context cultures, high-context cultures take a longer time to establish relationships.
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As compared to low-context cultures, high-context culture put less emphasis on face-to-face encounters.
Question 9
Question
Recent research by Fornell and his colleagues found an association between a firm’s score in the American Customer Satisfaction Index and which of the following?
Answer
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Higher prices for the firm’s services
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Higher prices for the firm’s stock
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Lower profits for the firm
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More word of mouth for the firm’s brand
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Stronger customer loyalty
Question 10
Question
A coffee shop is considering a customer loyalty program. According to research by Reinhartz and Kumar, what should the owners keep in mind when setting up the program?
Answer
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Many heavy users are multibrand loyal.
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Long-life customers are more costly to serve.
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High lifetime revenues drive duration, not profit.
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Long-term customers are less price sensitive.
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Long-life customers pay higher average prices.
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