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Exam 14: Customer Satisfaction and Customer Relationships

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Question 41

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__________ is defined as the trade-off of the quality of the purchase received compared with the price paid and other costs incurred.

A) Recovery
B) Marketing
C) Value
D) Expectations

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Question 42

Multiple Choice

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Customer lifetime value assessments involve which three types of components?

A) segmentation, targeting, and positioning
B) numbers about money, time, and financing finesse
C) targeting, retention, and money
D) acquisition, retention, and add-on selling

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Question 43

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Identify and discuss the three possible outcomes of customer evaluations.

What do customers evaluate when making a purchase?

Third-party communications help consumers form expectations based on objective ratings on issues such as quality and value.

Honda offers a line of cars from less expensive to more expensive.What is Honda's goal with regard to this line?

List the various sources of expectations and when you would typically use each one.

Comparing a purchase to expectations occurs when the item purchased is comprised primarily of __________ characteristics.

Jonathan just bought his usual brand of chips from the grocery store without thinking much about it.The fact that he normally doesn't evaluate his chips purchase means that it is a higher-involvement purchase.

Michael stayed at a Hampton Inn last weekend.What are the two categories of the purchase that he considers? Give an example of each category.

When a consumer does not have much personal experience with a realtor (e.g., a first-time home buyer) , he will form expectations from

Marketers talk of three kinds of expectations.Which of the following is NOT one of them?

Newport Country Club has a few unhappy members.They were not treated well at their last dinner at the club.What can Newport Country Club do to prevent these members from leaving the club for another club or quitting the country club lifestyle altogether?

When customers become dissatisfied, what is the primary means of regaining the customer?

Retention rates __________ over time.

Marketers don't track customer evaluations because

Hygiene and motivating factors are analogous to core and value-added.

There are three possible outcomes of customer evaluations: (1) satisfaction, (2) delight, or (3) dissatisfaction.

Some marketers say that firms should seek to enhance not customer satisfaction but rather customers' perceptions of value.

Most customer segments' expectations of quality are not unrealistic.