MKTG 3310 Chapter 14

Which of the following is true of customer service? Research shows that it takes less customer service effort to acquire new customers than to maintain existing ones. It is practically impossible to track the effectiveness of customer service strategies. Customer service policies and strategies of companies are vastly different for B2B customers than they are for B2C customers. While bad customer service can distance customers, good customer service alone cannot keep customers happy. Customer service mainly comprises human methods of customer interaction rather than mechanical methods.

Maven placed an order for a book in an online bookstore, Parallel Lines, on August 28th and received the book on August 31st. This timeframe is referred to as the distribution cycle. processing time. order fill rate. delivery cycle. order cycle.

_____ is a metric that measures the percentage of the total number of items on an order that a firm shipped on time. Item fill rate On-time delivery Perfect order rate Dollar fill rate Line fill rate

Steve is an account manager at an inventory management firm. He wants to measure the dollar fill rate of some of his customers' orders. In order to complete this task, Steve should measure the number of orders that have been filed perfectly against the ones processed. the percentage of item stocking types versus the completed order shipped on time. the value of goods shipped on time versus the total value of the order. the number of shipments delivered against the delivery dates. the length of the order cycle over customer order placement dates.

Sarah, the marketing manager of an e-commerce firm, wants to measure the percentage of orders shipped and completed in time based on stock keeping units. Which of the following metrics should Sarah use? perfect order rate line fill rate order cycle rate item fill rate dollar fill rate

Which of the following can a firm measure during the post-transaction point in the customer communication process? the accuracy and timeliness of the details of product availability fed back to a customer the persistence of customers in tracking a product the shipment status of an order the order tracking details of an order the ability of the firm to answer questions concerning the use of the product

_____ is a metric that measures a firm's ability and willingness to provide fast service, answer customer inquiries and resolve problems. Responsiveness Perfect order rate Order cycle time On-time delivery Item fill rate

The ultimate goal of delivering superior customer service is to increase brand loyalty. increase pricing power. maintain consistent market share. increase bargaining power. stabilize brand equity.

Which of the following is true of customer satisfaction? It is a state that is achieved when a firm meets the needs and expectations of customers. It is an attempt to satisfy customers, rather than just delight them. A company does not have to be customer oriented in order to build customer satisfaction. A company's emphasis on customer satisfaction is a direct consequence of excessive competition. Customer satisfaction can increase brand loyalty, but not a firm's profitability.

Which of the following is true of companies that base their business on the marketing concept? They put the customer in the center of their thinking in terms of strategy and operations. They place profitability ahead of delivering value to customers. Individual departments focus on meeting their own objectives rather than the overall objectives. They focus on a company-wide strategy rather than interdepartmental decisions with regard to the customer. They ensure that only the sales and marketing areas are customer oriented.

Oswell, an online apparel retailer, has a customer-oriented strategy. One of the firm's goals is to tailor its product information to individual customers. What method can Oswell use to do this? empowerment clientelling relationship surveys collaborative filtering geofencing

_____ refers to a strategy that focuses on building brand loyalty by attracting, maintaining and enhancing customer associations. Private labeling Relationship marketing Product repositioning Market customization Franchising

One of the basic keys for a company to building good relationships with customers is to create products that meet customers' expectations at least 70 percent of the time. understand the key competencies of competitors and try to clone those competencies. establish the ways in which it will provide more customer value than its competitors do. avoid personal selling as a way to build relationships with customers. recognize the importance of treating all customers equally and adopting a one-size-fits-all approach.

_____ refers to the perceived benefits that a consumer receives from a product compared to the cost associated with obtaining it. Consumer perception Competitor index Ownership equity Customer value Sales forecast

Eva, a sales analyst at ShopOn.com, wants to capture and store consumer data to create and maintain customer profiles. Doing this would allow her to study the data to identify purchasing patterns and buying habits. This information could then be used by the marketing team to target marketing campaigns at specific segments of customers. Which of the following software types should she use for this purpose? inventory management software supply chain management software enterprise resource planning software existing visitor optimization software customer relationship management software

Which of the following is the first step in the customer relationship management process for a company? analyzing collected data for storing utilizing analysis to build customer relationships understanding customer interaction identifying current customers gathering specific customer information

Which of the following is true of the customer relationship management process for a company? It is a process that begins with understanding how customers interact with each other. It is a method that is useful for gathering generalizable data rather than customer-specific information. It a perfectly linear process with clearly defined process flow. It does not allow the storage and retrieval of information, instead depending on real-time analysis of data. It involves the use of data mining to search for meaningful trends in vast amounts of data.

To safeguard against a breach of security, CRM systems must install robust firewalls to prevent unauthorized access. trade information more openly and avoid encrypting data. entrust data security to a third party vendor. adopt phishing strategies to examine security. use data hacking tools and data mining software.

Richard is the newly recruited operations manager at Stripes, an online shoe store. He was recruited after the CEO noticed no significant improvement in sales figures despite the increase in marketing and promotions during the past three quarters. Richard's first task is to assess the profitability of existing and potential customers in the long run in order to maintain or increase services to those customers. Which of the following methods of analysis will serve this purpose? recency-frequency-monetary analysis cognitive dissonance analysis predictive modeling lifetime value analysis customer segmentation analysis

_____ refers to a ratio that compares the financial investments a company puts into gaining and keeping customers to the financial return on those investments. Predictive value Share of customer Recency frequency value Lifetime value Customer equity