Keith, a clothing store owner, offers product suggestions to customers based on their current purchases. Which of the following is Keith targeting to increase?
A)
shared value
B)
customer loyalty
C)
share of customer
D)
customer-generated marketing
E)
social responsibility
Page Ref: 42-43
AACSB:
Skill: Application
Objective: 1-4
Difficulty: Hard
54.
Which of the following refers to the total combined customer lifetime value of all of the company's current and potential customers?
A)
customer-perceived value
B)
target market
C)
share of customer
D)
customer equity
E)
marketing mix
Page Ref: 43
AACSB:
Skill: Concept
Objective: 1-4
Difficulty: Easy
55.
In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a ________.
A)
stranger
B)
market maven
C)
barnacle
D)
true friend
E)
butterfly
Page Ref: 44
AACSB:
Skill: Concept
Objective: 1-4
Difficulty: Easy
56.
Customers can be classified into four relationship groups based on their profitability and projected loyalty. Which customer type is associated with high profitability and long-term loyalty?
A)
true friends
B)
butterflies
C)
barnacles
D)
strangers
E)
cash cows
Page Ref: 44
AACSB:
Skill: Concept
Objective: 1-4
Difficulty: Easy
57.
A financial services firm has several loyal customers who conduct business with them exclusively. However, the company has noticed that this customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. Which of the following customer groups is being referred to in this scenario?