Services Marketing Integrating Customer Focus Across the Firm 7Th Edition - Test Bank Instant Download - Complete Test Bank With Answers Sample Questions Are Posted Below Chapter 06 Building Customer Relationships Answer Key Multiple Choice Questions 1. _____ marketing focuses on keeping and improving current customers, rather than concentrating on acquiring …
$19.99
Services Marketing Integrating Customer Focus Across the Firm 7Th Edition – Test Bank
Instant Download – Complete Test Bank With Answers
Sample Questions Are Posted Below
Chapter 06 Building Customer Relationships Answer Key
Multiple Choice Questions
| 1. | _____ marketing focuses on keeping and improving current customers, rather than concentrating on acquiring new customers.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 2. | According to the _______, while advertising, sales and promotions pour profits into your company, there will always be some customer defection, which has the potential to grow larger.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 3. | According to the text, the relationships between businesses and their customers have the ability to evolve. In the first step of this evolution process, customers are identified as:
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 4. | The primary goal of businesses that are in the first stage of their relationship with a customer is to:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 5. | WedSafe is the name of a company that provides wedding insurance. For example, in the event that a wedding is called off, the couple can insure themselves against loss of their nonrefundable deposits. If WedSafe’s primary marketing effort is to make engaged couples aware of its services, the company is in which stage of the customer relationship evolution?
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 6. | WedSafe is the name of one of several companies that provide wedding insurance. For example, in the event that a wedding is called off, the couple can insure themselves against loss of their nonrefundable deposits. If WedSafe’s primary marketing effort is satisfying its customers, the company is in which stage of the customer relationship evolution?
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 7. | In acquaintance relationships, firms generally focus on:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 8. | How would you describe the sustainability of competitive advantage in the acquaintance stage of the customer relationship evolution?
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 9. | Following the acquaintance relationship in the evolution of customer relationships is the customers in _____ stage.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 10. | The transition from the _____ stage to the _____ stage of the customer relationship requires the development of trust.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 11. | A primary goal of firms at the friendship stage of the relationship is:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 12. | The key to success in the _____ stage of the customer relationship is the firm’s ability to use customer knowledge and information systems to deliver highly personalized and customized offerings.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 13. | At the partnership stage of the customer relationship, the firm is most concerned with:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 14. | In some long-term customer-firm relationships, a service provider may become part of a customer’s __________ , such as when a hairdresser serves as a personal confidant, or a proprietor of a local retail store is known as a central figure in the neighborhood network.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 15. | Kayla has been having her haircut by Duncan, a hairstylist at Studio 21 Salon, for five years. She has continued to use the same hairstylist even though the price of a haircut at Studio 21 Salon is $10 higher than at competing hair salons. Duncan stays up to date on the latest hairstyles and hair care products and Kayla always leaves the salon with a haircut she loves. Kayla realizes _____ benefits from her relationship with Duncan.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 16. | Elmer Jennings is a government auditor and works for the Bracken and Leach firm. He is the one who checks to see that city and county governments have complied with accounting principles. As an auditor, Jennings sometimes will spend six weeks in one office while he checks its accounting records. The closeness of the relationship that Jennings builds with the government employees he works with was realized by Bracken and Leach when Jennings left the firm, went to work for another one and took his clients with him. This is an example of how _____ benefits can be both helpful and harmful.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 17. | Beyond the specific inherent benefits of receiving service value, customers also benefit in other ways from long-term associations with firms. The three types of relational benefits for customers are:
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 18. | The three types of benefits to organizations of maintaining and developing a loyal customer base are:
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 19. | Which of the following is one of the ways an organization benefits from maintaining and developing a loyal customer base?
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 20. | How would a day care center operator benefit from the implementation of relationship marketing with the parents of three preschool children?
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 21. | The _____ of a customer is a concept that looks at customers from the perspective of their lifetime revenue or profit contributions to a company.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-02 Explain why and how to estimate customer relationship value. |
| 22. | According to the text, the relationship value of a customer is not influenced by:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Challenging Learning Objective: 06-02 Explain why and how to estimate customer relationship value. |
| 23. | Since service companies have found that customers differ in their relationship value and that it may be neither practical nor profitable to meet or exceed all customers’ expectations, they have divided their target markets according to:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 24. | Rather than treating all of its customers the same, FedEx categorized its customers internally as “the good, the bad, and the ugly” based on their ___________.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 25. | A company that uses a four-tier scheme to segment its customers by profitability:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 26. | Salespeople for college texts call on college instructors to sell them on using a particular text for their classes. Improvements in efficiency have led some publishers to stop making sales calls altogether on smaller colleges. It is a much better use of the sales force’s time to call on schools with large classes and big adoption rates. From the customer’s point of view, this application of the profitability tier:
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Challenging Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 27. | The development of strong customer relationships is strongly influenced by:
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 28. | Every month the pest exterminator does a monthly spraying at Jean Poole’s house. Every month Jean gripes that she is being ripped off by the exterminating company and that she’s going to find a new one. But she never does change service providers due to:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 29. | In many instances, customers develop loyalty to an organization in part because of costs involved in changing to and purchasing from a different firm. These costs are called:
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 30. | _____ arise(s) when the customer is required to pay a penalty to switch providers.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 31. | Molly and Tom are getting married. Last month they hired a caterer for the wedding reception. This month they attended a wedding for which their chosen caterer had provided food, dishes and flowers. Neither thought the food was good and Molly worried that the dishes looked cheap. However, they feel they cannot change caterers at this date due to the large deposit required by the catering company when it took the job. Molly and Tom do not want to pay:
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 32. | Moonlight Catering has increased the deposit it requires before agreeing to cater an event to $300. This amount is nonrefundable and must be paid when Moonlight Catering is hired for the job. This increase in deposit will help Moonlight Catering achieve its goal of:
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 33. | Retention strategies built around financial bonds:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 34. | Every time Tom and Betty stay at a Marriott Hotel, they earn points that can be used at a later date for free rooms, meals and other hotel amenities. Marriott is using _____ to implement its retention strategy.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Challenging Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 35. | Participants in the Coffee Café’s loyalty program get a free large cup of coffee after every 10th cup of coffee purchased. After purchasing 100 cups of coffee from the Coffee Café, loyalty program participants receive a $10 gift certificate good for food and beverage items or merchandise. Coffee Café’s uses _____ to encourage its customers to remain loyal.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 36. | Retention strategies based on social bonds:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 37. | Miller & Sons Funeral Home has handled all of the funeral needs for the Atwater family since 1957. The family believes that Miller & Sons offers them good value for their dollar and the Miller sons and the Atwater boys played on the same high school football team. Miller & Sons Funeral Home is using _____ to implement its customer retention strategy.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 38. | Every Thursday afternoon for almost twenty years, Jasmine and Tanya have gotten a manicure at the same location. The manicure salon has changed ownership three times and has had two different names during that same period, but Jasmine and Tanya still find it a convenient place to meet and share news about friends and relatives. Jasmine and Tanya’s relationship with the manicure salon exemplifies how a service provider uses _____ to support its customer retention strategy.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 39. | Step-by-Step day care center offers parents several other services not normally offered by day by day care centers. A caterer is present every morning when the children are dropped off to take orders for supper. When the parents pick up their children in the evening, their supper is ready for them to take home, too. A hair stylist comes to the center once a week and cuts the hair of any child whose parents request this service. A photographer comes to the center every three months to take updated pictures of children whose parents don’t have the time to take their children to the photography studio. In this way, Step-by-Step is using _____ to support its customer retention strategy.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Challenging Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 40. | The term customer intimacy is most closely related to the establishment of _____ bonds.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 41. | Regency Dry Cleaners operates in a medium-sized community. Its customers all live within a 20-mile radius of the cleaners. Regency provides its regular customers with several alternative pickup and delivery schedules rather than a single weekly pickup and delivery. Regency’s driver will pick up clothes in the morning and deliver them back clean in the afternoon if that is what a customer needs. Regency has found the increase in its total number of customers because of this service more than pays its additional operation expenses. Regency has built its customer retention strategy around:
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Challenging Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 42. | Pandora is an Internet-based music discovery service that helps its customers find and enjoy music that they like. A customer can create up to 100 unique “stations” by identifying favorite songs or artists and then Pandora’s expert system analyzes what they like and provides suggestions based on this analysis. Pandora is using ____________ to develop and maintain customer relationships.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Challenging Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 43. | _________ are created by providing services to the client that are designed right into the service delivery system.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 44. | Customer retention strategies based on customization bonds:
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Challenging Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 45. | Aramark is a food service company that supplies meals to more than 200,000 hospital patients daily. To improve its service, it created a database that tracks patient preferences individually by hospitals, regionally and nationally. The accumulated database is used to provide better menus. Aramark’s kitchen staffs deliver the food and are referred to as hosts. All hosts have a minimum of 40 hours of training to teach them how to be courteous, efficient and quick. These trained hosts deliver customized meals from carts preloaded according to room number. According to patient surveys, Aramark has boosted patient satisfaction by almost 10 percent by providing customized meals. Aramark is using _____ in its customer retention strategy.
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 46. | Often, _____ are created by providing customized services to the client that are technology based and make the customer more productive.
|
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 47. | Which of the following is NOT a reason why a service firm may avoid a customer relationship with a particular customer?
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 48. | New Bedford College has a two-year masters degree program designed for special education teachers. Thirty-five students enter the program each fall. The education department requires that the 35 students take the same classes. Classes are made available in sequence. If Beth wanted to take only one special education class to get her a teaching certificate in learning disabilities (LD), she would be unable to because she would not be able to participate in any carry-over projects from previous classes (This is a common teaching tool for the New Bedford education department faculty.). New Bedford College will avoid setting up a relationship with Beth because:
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
| 49. | United Jersey Bank offers customers, who have a combined balance of $3000 or more in a United Jersey Checking Account and Preferred Money Market Account, a service called United Jersey Preferred Banking. This service is designed to make banking more convenient and profitable for customers. United Jersey Preferred Banking eliminates monthly maintenance fees, provides unlimited free transactions at ATMs, preferred rates on personal loans, higher interest rates on savings with higher balances and a consolidated monthly statement. United Jersey Bank does not offer United Jersey Preferred banking to customers with a combined balance of less than $3000 in a United Jersey Checking Account and Preferred Money Market Account because these customers are:
|
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
| 50. | Sometimes firms have service encounters that fail because of ___________, who intentionally or unintentionally act in a way that is disruptive, rude, or aggressive.
|
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
True / False Questions
| 51. | Relationship marketing essentially represents a paradigm shift within marketing-away from an acquisitions/transaction focus toward a retention/relationship focus.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 52. | When customers and firms reach the friend level of their customer relationship, firms generally focus on providing value comparable to the competition.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 53. | The primary goal of relationship marketing is to build and maintain a base of profitable and committed customers through attraction, retention and customer enhancement.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 54. | With relationship marketing, customers receive the specific inherent benefits of receiving service value and nothing more.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 55. | With relationship marketing, customers can develop social relationships with their service providers, which makes it less likely that they will switch to a competitor.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 56. | For the organization, relationship marketing increases customer purchases, lowers costs and creates free word-of-mouth advertising.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 57. | There is no way to calculate the relationship value of a customer.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-02 Explain why and how to estimate customer relationship value. |
| 58. | The four-tiered system for measuring customer profitability uses usage segmentation.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 59. | The ability to segment customers narrowly based on profitability implications may raise questions of privacy for customers.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 60. | Well-implemented retention strategies will have long-term success even if there is no solid base of service quality and customer satisfaction to build on.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 61. | To be successful, a service provider must accept the fact that the customer is always right.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
| 62. | Level 1 retention strategies are very useful in creating a long-term competitive advantage.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 63. | Bundling and cross-selling are ways to implement a Level 1 retention strategy.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 64. | Social bonds alone may not tie the customer permanently to the firm, but they are much more difficult to imitate than financial incentives.
TRUE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 65. | Once a company has entered into a relationship with a customer, that relationship should never end.
FALSE |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
Short Answer Questions
| 66. | What is the primary goal of relationship marketing? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 67. | List the four stages in the evolution of customer relationships. |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 68. | What are four customer goals for organizations that engage in relationship marketing? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 69. | What are the three types of benefits customers enjoy through relationship marketing? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 70. | What are the three types of benefits firms enjoy through relationship marketing? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-01 Explain relationship marketing, its goals, and the benefits of long-term relationships for firms and customers. |
| 71. | What are some influences on the lifetime or relationship value of a customer? |
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-02 Explain why and how to estimate customer relationship value. |
| 72. | What are the two types of switching barriers that oftentimes prevent dissatisfied customers from switching providers? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 73. | Which retention strategy relies primarily on financial incentives? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Easy Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 74. | Gracie gets her haircut at a salon almost 20 miles from her house because the price is low and because Gracie went to school with the woman who owns the salon. What kind of retention strategy is being used in this example? |
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 75. | What are three types of customer relationships that may not be beneficial to the firm? |
| Accessibility: Keyboard Navigation Bloom: Remember Difficulty: Moderate Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
| 76. | Describe the types of social bonds that can bind customers to the firm. |
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 77. | Discuss the challenges that companies face when ending customer relationships. |
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-05 Identify challenges in relationship development, including the somewhat controversial idea that “the customer is not always right.” |
| 78. | Jade Taylor has run an advertising agency long enough to understand that the customer is not always right. He is interested in identifying his profitable customers. Define the four customer profitability tiers that might help Jade to analyze his customer base? |
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-03 Introduce the concept of customer profitability segments as a strategy for focusing relationship marketing efforts. |
| 79. | A theater that was once very popular is having decreased attendance at its movies even though its owner is providing his audience with the kind of movies they have enjoyed in the past. He is thinking about offering a program where customers earn free snacks with the purchase of a set number of tickets. Why might it be inappropriate for a movie theater to implement a financial rewards loyalty program? |
| Accessibility: Keyboard Navigation Bloom: Apply Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
| 80. | Why are Level 4 retention strategies the most difficult to imitate? |
| Accessibility: Keyboard Navigation Bloom: Understand Difficulty: Moderate Learning Objective: 06-04 Present relationship development strategies—including quality core service, switching barriers, and relationship bonds. |
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
