MBA 650 - Chapters 1, 2, 3 & 4 || with 100% Error-free Solutions.
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MBA 650 - Chapters 1, 2, 3 & 4
Customer churn is how rapidly a store can move customers through its checkout facility or process. correct answers False
Which of the following is a way for companies to increase customer-perceived value? correct answers increase total customer benefit by improving economic and functional benefi...
customer churn is how rapidly a store can move cus
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MBA 650 - Chapters 1, 2, 3 & 4
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MBA 650 - Chapters 1, 2, 3 & 4 || with 100% Error-free
Solutions.
Customer churn is how rapidly a store can move customers through its checkout facility or
process. correct answers False
Which of the following is a way for companies to increase customer-perceived value? correct
answers increase total customer benefit by improving economic and functional benefits
A customer touch point for Abacus Airlines would be an item such as ________. correct answers
the reservations desk
A company should try to retain a customer only as long as the cost to discourage defection is
lower than the lost profit. correct answers True
Which of the following is a policy a store can adopt to make low-profit customers more
profitable? correct answers Though 2Wheels previously offered free delivery, it now charges for
deliveries made outside the city.
Quality is the totality of features and characteristics of a product or service that bear on its ability
to satisfy stated or implied needs. correct answers True
Loyalty is a person's feelings of pleasure or disappointment that result from comparing a
product's perceived performance to expectations. correct answers False
Some customers inevitably become inactive or drop out. The challenge for marketers is to
reactivate them through ________ strategies. correct answers win-back
The marketing funnel identifies the profitability of consumers at each stage in the decision
process. correct answers False
A customer ________ is any occasion on which a customer encounters the brand and product
from actual experience to personal or mass communications to casual observation. correct
answers touch point
Amy and Jack were loyal customers of GreenFoods, a local grocery store. However, after a
couple of incidents where they had to return products that were stale and out of date, the couple
decided to try out VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack
must move through each stage in the marketing funnel before becoming loyal customers.Jack has
shopped at VeggiesNmore. He was happy with the experience and thought that this could be an
alternative to GreenFoods. However, he is also eager to try out other stores in the neighborhood.
He is in the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is
concerned. correct answers nonrejecter
, A company should try to retain a customer only as long as the cost to discourage defection is
lower than the lost profit. correct answers True
Club membership programs that are open to everyone who purchases a product or service
________. correct answers are useful for building a database of customers but are not very good
as long-term loyalty builders
________ is the perceived monetary value of the bundle of economic, functional, and
psychological benefits customers expect from a given market offering. correct answers Total
customer benefit
Consumers' expectations result exclusively from past buying experiences. correct answers False
A customer's profitability is judged on the basis of the lifetime stream of revenue and cost, not
the profit from a particular transaction. correct answers True
BMW is ________ the customer experience when it offers 500 side-mirror combinations, 1,300
front bumper combinations, and 9,000 center-console combinations and provides new buyers a
video link to watch their car being "born" while waiting for delivery. correct answers
personalizing
Unprofitable customers who defect to a competitor should be encouraged to do so. correct
answers True
Customer-perceived value is the perceived monetary value of all the purchases a customer makes
on an annual basis. correct answers False
The value delivery system includes all the experiences the customer will have on the way to
obtaining and using the offering. correct answers True
If a company were pursuing a policy of networking externally to gather marketing intelligence, it
might collect competitors' ads or look up news stories about competitors. correct answers True
As the manager of an organization that is attempting to build a marketing information system
(MIS), you have been informed that an MIS is built upon three fundamental information sources.
The sources are ________, marketing intelligence activities, and marketing research. correct
answers internal company records
Primary data can be collected in several ways. Installing cameras in a retail store to
unobtrusively record shopping behavior is an example of ________ research. correct answers
observational
The market forecast shows expected market demand, not maximum market demand. correct
answers True
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