MKT 331 / MKT331 Chapters 5 and 6 Test_100% Correct Answers

Chapters 5 and 6 Test Started: May 24 at 4:54pm Quiz Instructions This quiz/test consist of 40 questions. You will have two attempts and will be timed for 90 minutes. Question 1 2.5 pts Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis. Assess the quantitative importance of the different attributes and benefits. Identify the major attributes and benefits customers value. Monitor customer values over time. Assess the company's and competitors' performances on the different customer values against their rated importance. Justin conducts a survey on behalf of his firm, Komatsu. In the survey, he asks prospects to rate Caterpillar and Komatsu branded tractors on their performance on attributes that are important to the customer. In which step in the customer value analysis is Justin engaged? Question 2 2.5 pts True False A marketer who wants to position his line of cameras as the "Cadillac" of all cameras is focused on connecting with customers.5/24/2020 Quiz: Chapters 5 and 6 Test Question 3 2.5 pts True False The overall rate of ad blocking on Web browsers is 22 percent. Question 4 2.5 pts retention defection value perception belief Another term for high customer ________ is customer churn. Question 5 2.5 pts reducing the rate of customer defection increasing the longevity of the customer relationship enhancing the growth potential of each customer through cross-selling making low-profit customers more profitable Sapphire Toys actually sells more than toys. It also sells branded clothing, music CDs, and books for children. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________.5/24/2020 Quiz: Chapters 5 and 6 Test terminating low-profit customers Question 6 2.5 pts reduce the rate of customer defection make low-profit customers more profitable enhance the growth potential for each customer through cross-selling increase the longevity of the customer relationship focus disproportionate effort on high-value customers Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps banks to ________. Question 7 2.5 pts True False Activity-based costing tries to identify the real costs associated with serving each customer. Question 8 2.5 pts cost stream that exceeds by an acceptable amount his revenue stream revenue stream that exceeds the company's cost stream A profitable customer yields a ________.5/24/2020 Quiz: Chapters 5 and 6 Test cost stream that exceeds the company's revenue stream revenue stream that exceeds by an acceptable amount his cost stream revenue stream that equals the company's cost stream Question 9 2.5 pts 2Wheels sends birthday greetings to its best customers and gives them discounts on merchandise. 2Wheels has a club for its regular customers, organizing cycling events and parties for them. Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. 2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. 2Wheels encourages customers to send in their suggestions for product improvement. Which of the following is a policy a store can adopt to make low-profit customers more profitable? Question 10 2.5 pts total customer cost customer-perceived value value-delivery system value proposition TBS Bikes has recently introduced a series of bikes called Surami. The core positioning of TBS Bikes is "speed." Surami is a five-gear bike, and apart from speed, the company promises to include other features such as safety, good performance, and pollution control features. This describes the ________ of the bike.5/24/2020 Quiz: Chapters 5 and 6 Test total customer benefit Question 11 2.5 pts touch point point of order point of difference pivot point point of parity A customer ________ is any occasion on which a customer encounters the brand and product - from actual experience to personal or mass communications to casual observation. Question 12 2.5 pts reservations frequent-stay programs room service laundry service All of these are touch points- - - -