Creating Customer Value, Satisfaction, and Loyalty...

Chapter 5: Creating Customer Value, Satisfaction, and Loyalty GENERAL CONCEPT QUESTIONS Multiple Choice 1. ________ 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: 119 Difficulty: Easy AACSB: Reflective Thinking 2. The opening vignette on Ritz-Carlton shows that 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†¦show more content†¦customer attitude and salesperson’s attitude Answer: b Page: 124 Difficulty: Hard AACSB: Reflective Thinking 12. The ultimate goal of the customer-centered firm is ________. a. high customer satisfaction b. high profits c. low costs d. maximum stakeholder satisfaction e. none of the above Answer: e Pages: 124–125 Difficulty: Hard AACSB: Reflective Thinking 13. Buyers form their expectations from all of the following EXCEPT ________. a. past buying experience b. friends and associates advice c. marketers’ information d. competitors’ information e. governmental newsletters Answer: e Page: 125 Difficulty: Easy AACSB: Analytic Skills 14. A customer’s decision to be loyal or to defect is the sum of many small encounters with the company. In order for all these small encounters to add up to customer loyalty, many companies, such as Joie de Vivre Hospitality, strive to create ________. a. a reward program b. a comprehensive customer database c. a branded customer experience d. strong word-of-mouth promotions e. a top-notch advertising campaign Answer: c Page: 125 Difficulty: Hard AACSB: Reflective Thinking 15. One key to customer retention is ________. It would be wise for a company to measure this factor frequently. a. heavy promotion b. deep discounts for intermediaries c. to have an ethics officer d. customer satisfaction e. to have customers on the board of directors Answer:Show MoreRelatedCustomer Retention Strategies At Mcdonald s Corporations1502 Words   |  7 PagesAn Analysis of the customer retention strategies at McDonald s corporations 1b What is the issue/problem that your proposal addresses and why is it important to the reader? 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