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Marketing Strategy Study Set 2

Business

Quiz 10 :

Developing and Maintaining Long-Term Customer Relationships

Quiz 10 :

Developing and Maintaining Long-Term Customer Relationships

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Unlike other nonmonetary costs, opportunity costs are harder for marketers to control.
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True False
Answer:

Answer:

True

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Sales tax is an example of a transactional cost.
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True False
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Answer:

True

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In which of the following situations would a customer become more tolerable of weak or poor product performance?
Free
Multiple Choice
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Answer:

D

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__________ focuses on more fully serving the needs of current customers.
Multiple Choice
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What is the primary disadvantage associated with using financial incentives as a means of developing customer relationships?
Multiple Choice
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Larger financial institutions now offer a wide range of services under one roof, from banking to stock trading. These institutions have moved away from increasing their market share to instead focusing on increasing their:
Multiple Choice
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With respect to customer expectations, which of the following best describes the zone of tolerance?
Multiple Choice
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The room service at the Waldorf Astoria is an example of a symbolic or experiential attribute.​
True False
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Companies should strive to delight their customers all the time.
True False
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With respect to competitive advantages, many see __________ as the most important asset that an organization can possess, as it stems from the value generated by the trust, commitment, cooperation, and interdependence among relationship partners.
Multiple Choice
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Customers do not usually make independent judgments about satisfaction.
True False
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Advocacy involves creating social bonds that prevent product or supplier switching.​
True False
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__________ is defined as a business philosophy aimed at defining and increasing customer value in ways that motivate customers to remain loyal.
Multiple Choice
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__________ refers to the degree of superiority of a firm's goods or services. It is a relative term because it can only be judged in comparison to competing products or when compared to an internal standard of excellence.
Multiple Choice
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There are two types of monetary costs involved in the purchase of any product: transactional costs and life-cycle costs. Which of the following best exemplifies a life-cycle cost in the purchase of an automobile?
Multiple Choice
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The most basic strategy for enhancing and maintaining customer relationships is the offering of financial incentives.
True False
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Why is relationship development in business markets riskier and more involving than relationship development in consumer markets? ​
Multiple Choice
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Marketers should make it difficult for customers to complain because these complaints can easily create negative perceptions among other customers.
True False
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Customer satisfaction occurs when actual performance exceeds the desired performance expectation.
True False
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Lily loves to purchase high-end shoes and clothes that are the latest fashions. She is even willing to purchase uncomfortable clothing if it is considered fashionable. Lily is most concerned with the symbolic and experiential attributes of apparel.
True False
Answer:
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