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Homework answers / question archive / Part I: Multiple Choice 1)Which of the following represents a major shift in current marketing practice? from mass marketing to individualized marketing from high fixed costs to low fixed costs    from focusing on a small base of customers to focusing on acquiring many new ones    all of the above Using _________ firms can develop customized web pages based on visitor behavior

Part I: Multiple Choice 1)Which of the following represents a major shift in current marketing practice? from mass marketing to individualized marketing from high fixed costs to low fixed costs    from focusing on a small base of customers to focusing on acquiring many new ones    all of the above Using _________ firms can develop customized web pages based on visitor behavior

Marketing

Part I: Multiple Choice

1)Which of the following represents a major shift in current marketing practice?

    1. from mass marketing to individualized marketing
    2. from high fixed costs to low fixed costs   
    3. from focusing on a small base of customers to focusing on acquiring many new ones   
    4. all of the above
  1. Using _________ firms can develop customized web pages based on visitor behavior.
    1. Web log analysis   
    2. ongoing e-mail   
    3. client-side tools   
    4. agents
  2. According to the text, customer relationship management (CRM) is based on ________.
    1. vision  
    2.  trust   
    3. privacy   
    4. trategy
  3. A firm using relationship marketing focuses on ________.
    1. market share   
    2. wallet share  
    3.  relationship share   
    4. time share
  4. Firms can use relationship-marketing techniques to build relationships with ________.
    1. customers   
    2. employees   
    3. lateral partners  
    4. all of the above
  5. Which of the following is a key facet of customer relationship management (CRM)?
    1. sales force automation   
    2. marketing automation    
    3. Customer service   
    4. all of the above
  6. According to the text, when everyone in the firm who touches the customer understands all aspects of the customer’s relationship with the company, this is known as ________.
    1. owning the customer’s total experience   
    2. having a 360-degree view of the customer relationship    
    3. streamlining business processes that impact the customer   
    4. fostering community
  7. Which of the following represents the final stage in the evolution of customer services practices within an enterprise ___.
    1. providing live customer service   
    2. moving some customer service activities to the Web   
    3. anticipating and delivering service and support before the customer recognizes the need  
    4.  segmenting and targeting users
  8. Which of the following is typically NOT a benefit of CRM?
    1. increased revenue  
    2.  increased wallet share   
    3. retention of customers for longer time periods   
    4. elimination of customer acquisition costs
  9. CRM allows companies to leverage their resources by investing more in the ________ customers.
    1. average   
    2. least profitable   
    3. most lucrative   
    4. none of the above
  10. According to the text, which of the following is NOT one of the main reasons why CRM programs typically succeed?
    1. good data   
    2. quality processes and systems   
    3. organizational resources and commitment   
    4. happy customers
  11. As more companies integrate customer relationship management (CRM) and supply chain management (SCM) activities ________.
    1. they will experience an increase in variable costs   
    2. they will slightly less able to learn how to create value throughout the supply chain  
    3.  they will become more responsive to individual customer needs   
    4. all of the above
  12. In order to keep customers from viewing their communications as spam, the firm should build relationships by ________.
    1. offering promotions  
    2. purchasing new consumer lists periodically   
    3. using consumer information to build more precise target profiles
    4. rewarding customers for giving out their friend’s e-mail addresses
  13. All of the following are metrics used to assess the internet’s value in delivering CRM EXCEPT ________.
    1. lifetime value (LTV)  
    2. cost savings   
    3. employee satisfaction    
    4. customer satisfaction
  14.  Most consumers are
    1. more likely to share GOOD customer experiences   
    2. more likely to share BAD customer experiences    
    3. Are as likely to share both negative and positive customer experiences
    4. Never share bad customer experiences
  15. ________ allows marketers to monitor users’ online behavior and make instantaneous and/or automatic adjustments to online promotional offers and web content.
    1. Collaborative filtering
    2.  Real-time profiling   
    3. An agent
    4.  E-mail communication
  16. Frederick F. Reichheld is
    1. A well-know expert in data analysis and modeling   
    2. The author of the seminal CRM text The Loyalty Effect   
    3. Inventor or The Pareto Principal    
    4. Original member of the PARC team at Xerox
  17. Software agents such as shopping agents and search engines ________.
    1. scour the internet for terms matching the users’ search criteria    
    2. use Web portals to access partner information   
    3. are forms of experiential marketing   
    4.  match user input to databases and return customized information
  18. Key criteria for successful loyalty programs include
    1. Hard for consumers to leave the program   
    2. Not adoptable to behavioral changes    
    3. Be complex to use    
    4. None of the above
  19. Customization is
    1. directing marketing communications to individuals or businesses that have been identified as valid prospects for acquisition or retention for the good or service.    
    2. the creation of specialized content for a prospect with a known profile by choosing from an array of existing content modules.  
    3.  the creation of new content, services, or even products based on the needs and wants of an individual customer, either business or consumer.     
    4. All of the above
  20. Most businesses spend more money acquiring new customers than they spend keeping current customers.
  21. Customer service occurs only post purchase, when customers have questions or complaints.
  22. No matter how good a firm is at retaining customers, new customer acquisition is still an important activity.
  23. It is important for marketers to measure and evaluate both the business effectiveness of a site as well as the level of satisfaction with the customer experience on the site.
  24. Using Web log analysis firms can develop customized web pages based on visitor behavior.
  25. A wireframe shows the parts of a web page that perform best/ get most attention for longest period of time.
  26. Zappos is clearly VERY focused on wallet share as a primary measure of how success it is with it's target customers.
  27. CRM =  Sales Force Automation, Marketing Automation,  & Customer Service
  28. You cannot have an effective CRM effort with out also having a Loyalty Programs.
  29. Relationship marketing is about establishing, maintaining, enhancing, and commercializing relationships through promise fulfillment.

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