Question 1

Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale.He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he or she remains in the area.This is an illustration of ________.
share of customer
market share
profitability
customer lifetime value
market share maintenance

Accepted Answer

The answer of Stew Leonard, owner/operator of supermarkets, reacts adversely...

Question 2

When an airline goes after a "share of travel" from its customers, it is attempting to increase ________.
its value proposition
share of customer
target markets
customer variety
customer ownership

Accepted Answer

The answer of When an airline goes after a "share...

Question 3

Which of the following best explains why consumers have greater power and control in today's marketplace?
The production concept and competition have lowered prices.
Implementation of the product concept has resulted in continually improving products.
Customer-driving marketing creates products and services that meet customers' future needs.
More companies are implementing societal marketing and weighing long-run costs and benefits.
Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.

Accepted Answer

The answer of Which of the following best explains why...

Question 4

The final step in the marketing process is ________.
capturing value from customers
creating customer loyalty
creating customer lifetime value
understanding the marketplace
designing a customer-driven marketing strategy

Accepted Answer

The answer of The final step in the marketing process...

Question 5

FedEx offers its customers fast and reliable package delivery.When FedEx customers weigh these aforementioned benefits against the monetary and psychic costs of using the service, they are acting upon ________.
loyalty
relationship marketing
customer-perceived value
social relationships
a societal marketing campaign

Accepted Answer

The answer of FedEx offers its customers fast and reliable...

Question 6

Frequent flyer programs offered by airlines are an example of a ________.
frequency marketing program
basic customer relationship
club marketing program
consumer-generated marketing program
structural benefit provided for top customers

Accepted Answer

The answer of Frequent flyer programs offered by airlines are...

Question 7

Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials and components to final buyers who purchase final products.
supply chain management
direct marketing
partnership relationship marketing
customized marketing
deviated marketing

Accepted Answer

The answer of Through ________, many companies today are strengthening...

Question 8

Which of the following strategies would a company most likely use to increase customer satisfaction?
decreasing variety of services offered
lengthening the supply chain
lowering prices or increasing its services
"firing" unprofitable customers
limiting experiences with a brand

Accepted Answer

The answer of Which of the following strategies would a...

Question 9

Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service?
satisfied customers
customer evangelists
butterflies
full partners
social customers

Accepted Answer

The answer of Which of the following is the term...

Question 10

________ is the total combined customer lifetime values of all the company's current and potential customers.
Share of customer
Customer lifetime value
Customer equity
Profitability
Share of market

Accepted Answer

The answer of ________ is the total combined customer lifetime...

Question 11

According to the authors, a highly profitable, short-term customer is a ________.
true friend
butterfly
stranger
barnacle
true believer

Accepted Answer

The answer of According to the authors, a highly profitable,...

Question 12

The marketing world is embracing ________ because consumers can wield greater power and control in the marketplace through communication technologies.
partner relationship management
supply chain management
customer-managed relationships
market segmentation
target marketing

Accepted Answer

The answer of The marketing world is embracing ________ because...

Question 13

The authors of your text classify customers into four relationship groups, according to the customers' profitability and projected loyalty.________ are the customers with the highest profit potential and strong loyalty.
Barnacles
Strangers
Butterflies
True friends
Big fish

Accepted Answer

The answer of The authors of your text classify customers...

Question 14

The ultimate aim of customer relationship management is to produce ________.
customer delight
customer satisfaction
steady sales volume
a reliable database
sustainable business

Accepted Answer

The answer of The ultimate aim of customer relationship management...

Question 15

Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers?
customer-perceived value
customer satisfaction
customer-perceived performance
customer relationship management
market segmentation

Accepted Answer

The answer of Which of the following is determined by...

Question 16

Phil just started a new habit of eating once a week at Mr.Sub restaurants.On average, he spends about $10 per meal.Phil says, "I'm 20 years old and I plan on eating at Mr.Sub until I am 50 years old." Phil's lifetime value at Mr.Sub could be best estimated by which calculation?
$10 x 50
$10 x 20
$10 x 52 x 50
$10 x 52 x 30
$10 x 52 x 20

Accepted Answer

The answer of Phil just started a new habit of...

Question 17

Which of the following is an example of consumer-generated marketing?
Toyota's presence in online communities
Nike's Nike Plus running Web site
H.J.Heinz's use of brand-related consumer videos posted on video-sharing websites
Neiman Marcus's InCircle Rewards program for its best customers
The Lexus Covenant aimed at creating customer delight

Accepted Answer

The answer of Which of the following is an example...

Question 18

It is most accurate to say that a customer will buy from the company that offers the highest ________.
value for the dollar
customer-perceived value
level of customer satisfaction
company image
concern for society's interests

Accepted Answer

The answer of It is most accurate to say that...

Question 19

Amazon.com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items.Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest.This helps Amazon.com capture a greater ________.
value proposition
customer ownership
share of customer
social network
customer base

Accepted Answer

The answer of Amazon.com leverages relationships with its 35 million...

Question 20

When the economy tightens, customer loyalty and customer retention become ________ for marketers.
even more important
less important
impossible
long-term but not short-term goals
short-term but not long-term goals

Accepted Answer

The answer of When the economy tightens, customer loyalty and...

Quiz 1: Marketing: Creating and Capturing Customer Value

When an airline goes after a "share of travel" from its customers, it is attempting to increase ________. its value proposition share of customer target markets customer variety customer ownership

The final step in the marketing process is ________. capturing value from customers creating customer loyalty creating customer lifetime value understanding the marketplace designing a customer-driven marketing strategy

Frequent flyer programs offered by airlines are an example of a ________. frequency marketing program basic customer relationship club marketing program consumer-generated marketing program structural benefit provided for top customers

Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials and components to final buyers who purchase final products. supply chain management direct marketing partnership relationship marketing customized marketing deviated marketing

Which of the following strategies would a company most likely use to increase customer satisfaction? decreasing variety of services offered lengthening the supply chain lowering prices or increasing its services "firing" unprofitable customers limiting experiences with a brand

Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service? satisfied customers customer evangelists butterflies full partners social customers

________ is the total combined customer lifetime values of all the company's current and potential customers. Share of customer Customer lifetime value Customer equity Profitability Share of market

According to the authors, a highly profitable, short-term customer is a ________. true friend butterfly stranger barnacle true believer

The marketing world is embracing ________ because consumers can wield greater power and control in the marketplace through communication technologies. partner relationship management supply chain management customer-managed relationships market segmentation target marketing

The authors of your text classify customers into four relationship groups, according to the customers' profitability and projected loyalty.________ are the customers with the highest profit potential and strong loyalty. Barnacles Strangers Butterflies True friends Big fish

The ultimate aim of customer relationship management is to produce ________. customer delight customer satisfaction steady sales volume a reliable database sustainable business

Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers? customer-perceived value customer satisfaction customer-perceived performance customer relationship management market segmentation

It is most accurate to say that a customer will buy from the company that offers the highest ________. value for the dollar customer-perceived value level of customer satisfaction company image concern for society's interests

When the economy tightens, customer loyalty and customer retention become ________ for marketers. even more important less important impossible long-term but not short-term goals short-term but not long-term goals