Creating Customer Value, Satisfaction, and Loyalty: General Concept Questions
Chapter 5:
Creating Customer Value, Satisfaction, and Loyalty
GENERAL CONCEPT QUESTIONS
Multiple Choice
1. ________ are adept at building customer relationships, not just products; they are skilled in market engineering, not just product engineering. a. Profit-centered companies b. Customer-centered companies c. Production-centered companies d. Sales-centered companies e. Promotion-centered companies
Answer: b Page: 119 Difficulty: Easy AACSB: Reflective Thinking
2. The opening vignette on Ritz-Carlton shows that successful marketers are the ones that fully ________. a. understand promotional strategy b. diversify their product line c. divorce themselves from a production mentality d. satisfy their customers profitably e. understand the sales concept
Answer: d Page: 120 Difficulty: Medium AACSB: Reflective Thinking
3. In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid? a. Sales b. The president c. Front-line people d. Customers e. Middle management
Answer: d Page: 121 Difficulty: Medium
4. ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. a. Perceived usefulness b. Failure avoidance rate c. Report rating d. Customer-perceived value e. Competitors’ market share rate
Answer: d Page: 121 Difficulty: Medium AACSB: Analytic Skills
5. Total customer benefit is the perceived monetary value of the bundle of economic, functional, and ________ benefits customers expect from a given market offering. a. psychological b. intangible c. realized d. fabricated e. advertised
Answer: a Page: 121 Difficulty: Hard AACSB: Analytic Skills
6. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering is called the ________. a.
Creating Customer Value, Satisfaction, and Loyalty
GENERAL CONCEPT QUESTIONS
Multiple Choice
1. ________ are adept at building customer relationships, not just products; they are skilled in market engineering, not just product engineering. a. Profit-centered companies b. Customer-centered companies c. Production-centered companies d. Sales-centered companies e. Promotion-centered companies
Answer: b Page: 119 Difficulty: Easy AACSB: Reflective Thinking
2. The opening vignette on Ritz-Carlton shows that successful marketers are the ones that fully ________. a. understand promotional strategy b. diversify their product line c. divorce themselves from a production mentality d. satisfy their customers profitably e. understand the sales concept
Answer: d Page: 120 Difficulty: Medium AACSB: Reflective Thinking
3. In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid? a. Sales b. The president c. Front-line people d. Customers e. Middle management
Answer: d Page: 121 Difficulty: Medium
4. ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. a. Perceived usefulness b. Failure avoidance rate c. Report rating d. Customer-perceived value e. Competitors’ market share rate
Answer: d Page: 121 Difficulty: Medium AACSB: Analytic Skills
5. Total customer benefit is the perceived monetary value of the bundle of economic, functional, and ________ benefits customers expect from a given market offering. a. psychological b. intangible c. realized d. fabricated e. advertised
Answer: a Page: 121 Difficulty: Hard AACSB: Analytic Skills
6. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering is called the ________. a.