Chapter 5 Concept Check Quiz

Rate is to define and measure retention rate your

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Unformatted text preview: defection rate is to define and measure retention rate. Your Answer: True Correct 17. The average company loses 30% of its customers every year. Your Answer: False Correct 18. One way of creating bonds with customers is to create superior products and services. Your Answer: True Correct 8/28/2012 10:18 AM Your Results for "Concept Check Quiz" 4 of 5 19. Through datamining, marketing statisticians can extract useful information about individuals, trends, and segments from a mass of data. Your Answer: True Correct 20. A customer mailing list contains business customers' past purchases, past volume, prices and profits. Your Answer: False Correct 21. List the steps involved in conducting a customer value analysis. Your Answer: Chapter 5 Page 126 1. Identify the major attributes and benefits that customers value. 2. Assess the quantitative importance of the different attributes and benefits. 3. Assess the company's and competitors' performance on the different customer values against their rated importance. 4. Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis. 5. Monitor customer values over time. 22. Name five ways companies can use their databases. Your Answer: Chapter 5 Page 144-145 1. To identify prospects 2. To decide which customers should receive a particular offer 3. To deepen customer loyalty 4. To reactivate customer purchases 5 To avoid serious customer mistakes 8/28/2012 10:18 AM Your Results for "Concept Check Quiz" 5 of 5 5. To avoid serious customer mistakes 8/28/2012 10:18 AM...
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This note was uploaded on 10/06/2013 for the course BUSI 520 taught by Professor N/a during the Fall '12 term at Liberty.

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