Marketing Chap. 3-4 at TU München

Flashcards and summaries for Marketing Chap. 3-4 at the TU München

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Study with flashcards and summaries for the course Marketing Chap. 3-4 at the TU München

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Customer relationship management... ... is important because retaining customers is generally more profitable than always acquiring new ones ... ultimately means that firm should view their customer relationships as assets ... require that firms align their marketing actions around products, not customers. Which of the following statements are true ?

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

The value of a firm's entire customer base is known as customer... A - Lifetime Value B - Equity C - Asset D - Loyalty

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Customer Relationship Management ... A - is important because retaining customers is generally more profitable than always acquiring new ones B - Ultimately means that firms should view their customer relationships as assets C - Require that firms align marketing actions around customers, not product D - May sometime involve the firm-initiated termination of customer relationships which of the following statement is true ?
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Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

The customer lifetime value ... A - is a forward-looking measure B - Doesn't consider customer retention C - Should consider a customer's word of mouth value Which of the above statements are true ?

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

The value of a firm's customer on individual level is known as customer ... A - Lifetime Value B - Equity C - Asset D - Loyalty

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Which of the following statements about customer relationship management is wrong ? A -Companies should emphasise the profit from a particular transaction rather than the lifetime stream of revenue and costs B - The customer base should be regarded as an asset the company can generate profit with C - Customer profitability is assessed based on metrics obtained from Customer Lifetime Value D - Customer Lifetime Value is the net present value of the stream of future profits expected over the customer's lifetime purchases E - Customer equity is the lifetime value of a group of customers

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Which statement about the confirmation/disconfirmation paradigm is wrong ? A - Consumers compare their expectations with actual outcomes in the process of (dis)satisfaction B - Positive disconfirmation results in customer satisfaction C - The same level of objective service/product performance can lead to satisfaction in one customer and to dissatisfaction in another customer D - Dissatisfaction results from negative disconfirmation E - Negative disconfirmation can result in satisfaction if consumer expectation are low
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Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Customer perceived value depends on... A - Objective product and service attributes as well as monetary costs only B - Subjective (perceived) product and service attribute as well as monetary cost only C - Willingness-to-pay only D - Product and service benefits, personnel and image benefits as well as costs - be they monetary, time, energy and/or psychological costs

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Which of the following steps is is a step of the customer value analysis of a company ? 1. Identify major benefits that are valued by the customer 2. Assess the importance of different benefits 3. Assess the company's and competitor's performances on benefits 4. Examine how customers in specific segments rate the company's performance against specific competitors on benefit basis 5. Monitor customer perceived values over time A - 1, 2 & 3 are correct only B - All are correct C - 1, 2, 3, & 5 are correct only D - 1, 2, 3, & 4 are correct only E - 1, 2 & 4 are correct only

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

What are factors that can increase the consumer loyalty to companies ? 1. Personal attachment to a sales person 2. Closeness of a company to one's home 3. A contractual agreement with a company 4. Compatibility between technologies 5. Low switching costs A - 1, 2, 3 & 4 are correct only B - 1, 2, & 4 are correct only C - 1, 2 & 3 are correct only D - 1, 2, 3 & 5 are correct only E - All are correct

Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Which of the following statements about the balanced scorecard is not correct ? A - Customer satisfaction measures are an example of a tool used in the customer perspective B - Return on investment is an example of an internal business process perspective measure C - Defect rates are considered in the internal business process perspective measure D - Employee turnover is an example of a measure that is used in the innovation and learning perspective E - Cash-flow analyses are an example of a tool used in the financial perspective
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Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Which of the following statements about the quality indicators of market research is correct ? 1. Validity refers to wether a study is able to scientifically answer the questions it is intended to answer 2. Reliability refers to the extent to which measurement gives results that are consistent 3. objectivity means that no subjectivity is included in the measurement of the study 4. Quantitative market research is of higher quality than qualitative market research 5. Qualitative market research is of higher quality that quantitative market research A - 1, 2 & 3 are correct only B - 1, 2, 3 & 5 are correct only C - 1, 2, 3 & 4 are correct only D - 1, 2 & 4 are correct only E - All are correct

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Exemplary flashcards for Marketing Chap. 3-4 at the TU München on StudySmarter:

Marketing Chap. 3-4

Customer relationship management... ... is important because retaining customers is generally more profitable than always acquiring new ones ... ultimately means that firm should view their customer relationships as assets ... require that firms align their marketing actions around products, not customers. Which of the following statements are true ?
the 1. and the 2. one are true the 3. one is wrong

Marketing Chap. 3-4

The value of a firm's entire customer base is known as customer... A - Lifetime Value B - Equity C - Asset D - Loyalty
B

Marketing Chap. 3-4

Customer Relationship Management ... A - is important because retaining customers is generally more profitable than always acquiring new ones B - Ultimately means that firms should view their customer relationships as assets C - Require that firms align marketing actions around customers, not product D - May sometime involve the firm-initiated termination of customer relationships which of the following statement is true ?
all statements are true

Marketing Chap. 3-4

The customer lifetime value ... A - is a forward-looking measure B - Doesn't consider customer retention C - Should consider a customer's word of mouth value Which of the above statements are true ?
All are correct

Marketing Chap. 3-4

The value of a firm's customer on individual level is known as customer ... A - Lifetime Value B - Equity C - Asset D - Loyalty
A

Marketing Chap. 3-4

Which of the following statements about customer relationship management is wrong ? A -Companies should emphasise the profit from a particular transaction rather than the lifetime stream of revenue and costs B - The customer base should be regarded as an asset the company can generate profit with C - Customer profitability is assessed based on metrics obtained from Customer Lifetime Value D - Customer Lifetime Value is the net present value of the stream of future profits expected over the customer's lifetime purchases E - Customer equity is the lifetime value of a group of customers
A

Marketing Chap. 3-4

Which statement about the confirmation/disconfirmation paradigm is wrong ? A - Consumers compare their expectations with actual outcomes in the process of (dis)satisfaction B - Positive disconfirmation results in customer satisfaction C - The same level of objective service/product performance can lead to satisfaction in one customer and to dissatisfaction in another customer D - Dissatisfaction results from negative disconfirmation E - Negative disconfirmation can result in satisfaction if consumer expectation are low
E

Marketing Chap. 3-4

Customer perceived value depends on... A - Objective product and service attributes as well as monetary costs only B - Subjective (perceived) product and service attribute as well as monetary cost only C - Willingness-to-pay only D - Product and service benefits, personnel and image benefits as well as costs - be they monetary, time, energy and/or psychological costs
D

Marketing Chap. 3-4

Which of the following steps is is a step of the customer value analysis of a company ? 1. Identify major benefits that are valued by the customer 2. Assess the importance of different benefits 3. Assess the company's and competitor's performances on benefits 4. Examine how customers in specific segments rate the company's performance against specific competitors on benefit basis 5. Monitor customer perceived values over time A - 1, 2 & 3 are correct only B - All are correct C - 1, 2, 3, & 5 are correct only D - 1, 2, 3, & 4 are correct only E - 1, 2 & 4 are correct only
B

Marketing Chap. 3-4

What are factors that can increase the consumer loyalty to companies ? 1. Personal attachment to a sales person 2. Closeness of a company to one's home 3. A contractual agreement with a company 4. Compatibility between technologies 5. Low switching costs A - 1, 2, 3 & 4 are correct only B - 1, 2, & 4 are correct only C - 1, 2 & 3 are correct only D - 1, 2, 3 & 5 are correct only E - All are correct
A

Marketing Chap. 3-4

Which of the following statements about the balanced scorecard is not correct ? A - Customer satisfaction measures are an example of a tool used in the customer perspective B - Return on investment is an example of an internal business process perspective measure C - Defect rates are considered in the internal business process perspective measure D - Employee turnover is an example of a measure that is used in the innovation and learning perspective E - Cash-flow analyses are an example of a tool used in the financial perspective
B, C, D

Marketing Chap. 3-4

Which of the following statements about the quality indicators of market research is correct ? 1. Validity refers to wether a study is able to scientifically answer the questions it is intended to answer 2. Reliability refers to the extent to which measurement gives results that are consistent 3. objectivity means that no subjectivity is included in the measurement of the study 4. Quantitative market research is of higher quality than qualitative market research 5. Qualitative market research is of higher quality that quantitative market research A - 1, 2 & 3 are correct only B - 1, 2, 3 & 5 are correct only C - 1, 2, 3 & 4 are correct only D - 1, 2 & 4 are correct only E - All are correct
A

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