AACSB: Analytical thinking
66) ________ refers to the portion of the customer's purchase that a company gets in its product categories.
A) Value proposition
B) Share of customer
C) Brand equity
D) Customer lifetime value
E) Customer equity
Answer: B
Diff: 2
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Analytical thinking
67) ________ is the total combined customer lifetime values of all the company's current and potential customers.
A) Share of customer
B) Value proposition
C) Customer equity
D) Market share
E) Customer-perceived value
Answer: C
Diff: 2
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Analytical thinking
68) The ultimate aim of customer relationship management is to ________.
A) produce high customer equity
B) divide markets into distinct segments
C) evaluate customer lifetime value
D) turn "strangers" into "butterflies"
E) evaluate current sales share
Answer: A
Diff: 2
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Application of knowledge
69) In which of the following customer relationship groups do organizations generally avoid investing?
A) barnacles
B) strangers
C) butterflies
D) true believers
E) true friends
Answer: B
Diff: 1
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Application of knowledge
70) A consumer who is potentially profitable but not loyal to a firm's offerings is referred to as a ________.
A) true friend
B) butterfly
C) stranger
D) barnacle
E) true believer
Answer: B
Diff: 1
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Analytical thinking
71) ________ are customers who show low potential profitability and little projected loyalty.
A) True friends
B) Barnacles
C) Strangers
D) True believers
E) Butterflies
Answer: C
Diff: 1
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Analytical thinking
72) A customer who is both loyal and profitable is referred to as a ________.
A) barnacle
B) stranger
C) true believer
D) laggard
E) butterfly
Answer: C
Diff: 1
LO: 1-4: Discuss customer relationship management and identify strategies for creating value for customers and capturing value from customers in return.
AACSB: Analytical thinking
73) Amazon Prime strives to convert casual shoppers into loyal customers. An Amazon Prime customer can be classified as a ________.
A) barnacle