MKT101 CHAPTER 1 QUESTIONS
WITH 100% VERIFIED ANSWERS
\.60. When an airline goes after a "share of travel" from its customers, it is
attempting to increase ________.
A) partner equity
B) share of customer
C) profit margins
D) customer-managed relationships
E) customer ownership - ANSWERS✔-B) share of customer
\.61) Beyond simply retaining good customers, marketers want to constantly
increase their "share of customer." What does this mean in marketing terms?
A) Marketers want to increase their market share.
B) Marketers want to increase the share they get of the customer's purchasing in
their product categories.
C) Marketers want to increase the profit margin with this target market.
D) Marketers want to continuously increase their customers' levels of satisfaction.
E) Marketers want to turn satisfied customers into delighted customers. -
ANSWERS✔-B) Marketers want to increase the share they get of the customer's
purchasing in their product categories.
\.62) ________ is one of the best ways to increase share of customer.
,A) Targeting new customers
B) Using bait and switch
C) Cross-selling
D) Divesting
E) Partnership marketing - ANSWERS✔-C) Cross-selling
\.63) Amazon.com leverages relationships with its 35 million customers by offering
them music, videos, gifts, toys, consumer electronics, and office products, among
other items. Based on previous purchase history, the company recommends
related CDs, books, videos, or other products that might interest a customer. This
most directly helps Amazon.com capture a greater ________.
A) partner value
B) share of customer
C) profit margin
D) social network
E) customer loyalty - ANSWERS✔-B) share of customer
\.64) Which of the following is the total combined customer lifetime values of all a
company's current and potential customers?
A) share of customer
B) customer lifetime value
C) customer equity
D) profitability
E) share of market - ANSWERS✔-C) customer equity
, \.65) The ultimate aim of customer relationship management is to produce
________.
A) customer equity
B) market share
C) sales volume
D) a reliable database
E) higher profit margins - ANSWERS✔-A) customer equity
\.66) A potentially highly profitable, short-term customer is a ________.
A) true friend
B) butterfly
C) stranger
D) barnacle
E) true believer - ANSWERS✔-B) butterfly
\.67) Customers can be classified into four relationship groups, according to their
profitability and projected loyalty. Which type of customers have the highest
profit potential and strong loyalty?
A) barnacles
B) strangers
C) butterflies
D) true friends
E) big fish - ANSWERS✔-E) big fish
WITH 100% VERIFIED ANSWERS
\.60. When an airline goes after a "share of travel" from its customers, it is
attempting to increase ________.
A) partner equity
B) share of customer
C) profit margins
D) customer-managed relationships
E) customer ownership - ANSWERS✔-B) share of customer
\.61) Beyond simply retaining good customers, marketers want to constantly
increase their "share of customer." What does this mean in marketing terms?
A) Marketers want to increase their market share.
B) Marketers want to increase the share they get of the customer's purchasing in
their product categories.
C) Marketers want to increase the profit margin with this target market.
D) Marketers want to continuously increase their customers' levels of satisfaction.
E) Marketers want to turn satisfied customers into delighted customers. -
ANSWERS✔-B) Marketers want to increase the share they get of the customer's
purchasing in their product categories.
\.62) ________ is one of the best ways to increase share of customer.
,A) Targeting new customers
B) Using bait and switch
C) Cross-selling
D) Divesting
E) Partnership marketing - ANSWERS✔-C) Cross-selling
\.63) Amazon.com leverages relationships with its 35 million customers by offering
them music, videos, gifts, toys, consumer electronics, and office products, among
other items. Based on previous purchase history, the company recommends
related CDs, books, videos, or other products that might interest a customer. This
most directly helps Amazon.com capture a greater ________.
A) partner value
B) share of customer
C) profit margin
D) social network
E) customer loyalty - ANSWERS✔-B) share of customer
\.64) Which of the following is the total combined customer lifetime values of all a
company's current and potential customers?
A) share of customer
B) customer lifetime value
C) customer equity
D) profitability
E) share of market - ANSWERS✔-C) customer equity
, \.65) The ultimate aim of customer relationship management is to produce
________.
A) customer equity
B) market share
C) sales volume
D) a reliable database
E) higher profit margins - ANSWERS✔-A) customer equity
\.66) A potentially highly profitable, short-term customer is a ________.
A) true friend
B) butterfly
C) stranger
D) barnacle
E) true believer - ANSWERS✔-B) butterfly
\.67) Customers can be classified into four relationship groups, according to their
profitability and projected loyalty. Which type of customers have the highest
profit potential and strong loyalty?
A) barnacles
B) strangers
C) butterflies
D) true friends
E) big fish - ANSWERS✔-E) big fish
