Singapore University of Social Sciences BUS 354 QUIZ

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Commitment Cooperation Relationship duration Repeat purchase According to Stephen M.R. Covey, trust includes: Communication and confidence Customisation and confidence Confidence and character ... Character and competence ____________ allows companies to treat different customers differently. Self-orientation The feedback loop The Age of Transparency The trust equation The primary objective of the IDIC process is: An economic transaction The IDIC process is the primary goal of an enterprise, not a means to a goal. Building a customer's trust Building a customer's emotional attachment Examples of customer-specific behaviours include all of the following except: Fans of a product band together on social networking sites and provide service and recommendations to A supervisor orders more computer components by going to a Web page that displays his firm's contract spending to date, and his departmental authorisations A car-rental customer rents a car without having to complete another reservation profile A marketing copywriter develops a brochure aimed toward 30-something suburban mothers and mails it that specific profile Keeping long-term customers is more beneficial than continually acquiring new custom I. Long-term customers tend to pay full price for a product rather than a discounted pric II. Loyal customers tend to give more referrals III. Acquiring new customers costs more than keeping current ones Both I and II III only II only I only The customer-centric company would gather customer information by: Gathering customer-specific information and aggregate information Gathering customer-specific information Measuring average demand in groups of customers Measuring average demand based on customer-specific informationFor a B2B company, what method would likely NOT help identify end users? Linking all customer data across departments, particularly for front-line employees Gathering individual information during a maintenance or service call Allowing customers to choose a specifically tailored instruction manual or training program for the produ Providing a convenient reordering method for replenishable supplies the product might consume Establishing a trusting relationship in which a customer freely shares information with a will likely involve all of the following approaches except: Integrating data across departments Establishing a strong privacy protection policy Ensuring the customer database is updated at least weekly Establishing the goal of zero latency The primary objective of the IDIC process is: An economic transaction The IDIC process is the primary goal of an enterprise, not a means to a goal. Building a customer's emotional attachment Building a customer's trust Which of the following (two) relationship building blocks are considered to be primary? Commitment and trust Fairness and symmetry Symmetry and commitment Trust and satisfaction The core benefit/s of Learning Relationship for an enterprise is: I. Increased product innovation II. Greater profit margins III. Greater customer loyalty II only III only I only I, II and III Which of the following formulates customer-share strategy? Finding a constant stream of new customers Differentiating products from competitors Using mass media to build brand and announce products Selling as many products as possible to one customer at a time Which of the following is NOT a benefit of trust under Britton's Relationship Building Blocks? Cooperation Repeat purchase Commitment Relationship duration The following are best practices for loyalty programs exceptTo accumulate customer information by encouraging purchasers to identify themselves To establish a parity strategy To provide incentives to customers to gain purchasing loyalty To customise offerings to customers The "action" aspect of the IDIC model includes: Differentiate and Customise Identify and Differentiate Interact and Customise Identify, Differentiate, Interact, and Customise What are some reasons companies do become customer-centric except: Customers create both short-term and long-term value Focusing on customers will ensure every transaction is profitable Customers are scarce Customers are the sole source of a company's revenue According to Rashi Glazer, smart markets are blurring boundaries between: Firm and shareholders Management and shareholders Firm and competitor Management and employees Traditional marketing's "Four Ps" apply to which part of the "Get, Keep, and Grow" customer strategy? I. Get II. Keep III. Grow Both I and II III only I only II only According to Philip Kotler, the following shifts have occurred as companies move from mass marketing to cu [Show More]

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