1. Question : When marketers profile the customer buying-decision process by thinking about how they themselves would act, these marketers are employing the ________.
Student Answer: retrospective method
consumption system method
2. Question : All of the following are examples of the perils of CRM EXCEPT ________.
Student Answer: implementing CRM before creating a customer strategy
the enormous cost that might eventually drain significant profits from the organization
rolling out CRM before changing the organization to match
assuming more CRM technology is better
stalking, not wooing, customers
3. Question : Using his company’s ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.
Student Answer: data warehouse
call back list
call rejection list
Better Business Bureau contacts
4. Question : ________ refers to the manner by which consumers code, categorize, and evaluate financial outcomes of choices.
Student Answer: Cost accounting
5. Question : People choose products that reflect and communicate their role and actual or desired ________ in society.
Student Answer: group
6. Question : In general, companies can use their databases in all of the following ways EXCEPT ________.
Student Answer: to predict competitive strategies and plans
to identify prospects
to decide which customers should receive a particular offer
to deepen customer loyalty
to avoid serious customer mistakes
7. Question : Although actual costs vary from business to business depending on the complexity of the sales process, the most expensive customer acquisition method based on cost per solicitation is ________.
Student Answer: personal selling
8. Question : ________ risk occurs if the product fails to perform up to expectations.
Student Answer: Physical
9. Question : Of customers who register a complaint, ________.
Student Answer: the majority will do business with the company again because they are unwilling to dedicate the effort required to find another vendor
none will do business with the company again
customers whose complaints are satisfactorily resolved spread more word of mouth than those who continue to be dissatisfied
the speed of resolution has no impact on the likelihood of repeat business
between approximately half and three-quarters will do business with the company again if their complaint is resolved
10. Question : The buying process starts when the buyer recognizes a(n) _________.
Student Answer: product
advertisement for the product
salesperson from a previous visit
problem or need
11. Question : Marketers use all of the following techniques to convert a low-involvement product into one of high involvement EXCEPT ________.
Student Answer: linking the product to some involving personal situation
linking the product to some involving issue
designing advertising to trigger strong emotions related to personal values or ego defense
adding an important feature
raising the price
12. Question : With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.
Student Answer: conjunctive
13. Question : Susan Lefferts’ company advertises widely. Ms. Lefferts uses business reply cards attached to her company’s magazine ads to build her company’s database. In which of the following ways would Ms. Lefferts most likely use the database?
Student Answer: To deepen customer loyalty
To reactivate customer purchases
To avoid serious customer mistakes
To determine if up-selling is appropriate
To identify prospects
14. Question : Anne prefers Yoplait strawberry yogurt over other brands. When she decides to try a different flavor, she picks another Yoplait yogurt because she believes that, if the strawberry flavor is good, other Yoplait flavors must be good as well. This behavior is best described as ________.
Student Answer: discrimination
15. Question : Consumption may be shaped by ________ (such as marriage, childbirth, or divorce).
Student Answer: the psychological life cycle
the product life cycle
the life/death life cycle
critical life events or transitions
16. Question : The 20-80 rule reflects the idea that ________.
Student Answer: the top 20% of customers often generate 80% of the company’s profits
the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend
20% of customers are unprofitable, and 80% make up a company’s profits
20% of the company’s profits are generated by the top 80% of customers
any new product offering will be accepted by 20% of the customers immediately, but 80% of the customers will be up for grabs throughout the product’s life cycle
17. Question : Consumers often choose and use brands that have a brand personality consistent with how they see themselves, also known as the ________.
Student Answer: actual self-concept
18. Question : A child growing up in the United States is exposed to all of the following values EXCEPT ________.
Student Answer: achievement and success
efficiency and practicality
the importance of the group in daily life
19. Question : When companies provide rewards to customers who buy frequently and in substantial amounts, this is referred to as ________.
Student Answer: benefit programs
20. Question : All of the following are methods to form strong customer bonds EXCEPT ________.
Student Answer: creating superior products, services, and experiences for the target market
making it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaints
organizing and making accessible a database of information on individual customer needs, preferences, contacts, purchase frequency, and satisfaction
running award programs recognizing outstanding employees
concentrating the planning and management of the customer satisfaction and retention process within the marketing department