Marketing

Question 1

If customers have major complaints and these are resolved quickly, __ of them will return again

Accepted Answer

82%

Question 2

Customer equity is the __ lifetime values of all the company’s current and potential customers

Accepted Answer

discounted

Question 3

_____ of service is: Quality of service depends on who provides them, when, where and how.

Accepted Answer

Variability

Question 4

An increase in customer retention rates should yield a profit increase of ____________.

Accepted Answer

25% to 125%

Question 5

Which of the following is NOT a positioning error?

Accepted Answer

just-right-positioning

Question 6

CRM benefits the following except...

Accepted Answer

None of the above

Question 7

Market positioning need NOT satisfy _________ criteria

Accepted Answer

reactive

Question 8

Which is NOT a characteristics of good segmentation?

Accepted Answer

Achievability

Question 9

Lifetime value is a stream of __ a customer will create in the life of a business relationship

Accepted Answer

profits

Question 10

Study found that if a customer has a major complaint, ____ will not buy from the company again

Accepted Answer

91%

Question 11

Which is NOT a characteristics of service marketing?

Accepted Answer

Tangibility

Question 12

Which is NOT a marketing management orientation approach?

Accepted Answer

None of the above

Question 13

Price skimming is setting a _______ price when the market is price-insensitive

Accepted Answer

high

Question 14

Guests who are in the low-frequency, low-profitability quadrant are often __________.

Accepted Answer

All of the above

Question 15

Differentiation strategy can be achieved with what P's of the marketing mix?

Accepted Answer

All of the above

Question 16

How many steps to marketing process?

Accepted Answer

5

Question 17

The Forum Company found cost of retaining a loyal customer is __ that of attracting a new one.

Accepted Answer

20%

Question 18

What is STP in marketing terms?

Accepted Answer

Segment, Target, Position

Question 19

In designing a promotional message, what does "A" in AIDA represent?

Accepted Answer

Attention

Question 20

What should a company do to keep customers of low frequency and high profitability?

Accepted Answer

Focus on having customers to patronize more often

Questions 20