Chapter 5: Creating Customer Value, Satisfaction, and Loyalty
GENERAL CONCEPT QUESTIONS Multiple Choice
________ 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: 139 Level of difficulty: Easy
The opening vignette on Washington Mutual indicates that, as the Washington Mutual experience shows, 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 e. understand the sales concept Answer: d Page: 140 Level of difficulty: Medium
In the modern customer-oriented organizational chart, which of the following is considered to be at the top of the organizational pyramid? a. Sales are at the top of the organizational pyramid. b. The president is at the top of the organizational pyramid. c. Front-line people are at the top of the organizational pyramid. d. Customers are at the top of the organizational pyramid. e. Middle management, because of their importance, is at the top of the organizational pyramid. Answer: d Page: 140 Level of difficulty: Medium
Part 3: Connecting with Customers
________ 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: 141 Level of difficulty: Medium
Total customer value 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...