Question 1

Each of the following is an example of data mining except:

Accepted Answer

A)  American Eagle studying how consumers respond to price markdowns.
B)  Goody's analyzing baskets of merchandise purchased by individual consumers.
C)  Target identifying the other retail stores customers use for particular products.
D)  First Horizon Bank expanding its wealth management business by studying profiles of its best customers.

Question 2

Data mining is:

Accepted Answer

A)  collecting addresses and zip codes of customers.
B)  reviewing past purchases of a product by customers.
C)  building profiles of customer segments and preparing models that predict their future purchase behavior.
D)  selecting cities for data analysis.

Question 3

The two primary metrics in customer relationship management (CRM) programs are:

Accepted Answer

A)  data-driven communications and data-driven marketing programs.
B)  lifetime value and customer cluster analysis.
C)  data mining and data coding.
D)  lifetime value of customers and share of customer.

Question 4

According to the Direct Marketing Association, about 60 percent of a typical direct marketing budget targets:

Accepted Answer

A)  former customers who have not purchased recently.
B)  prospecting for new customers.
C)  retaining current customers.
D)  individuals from an internal customer list.

Question 5

Define lifetime value. How is it determined?

Accepted Answer

The lifetime value is based on the avera...

Question 6

In terms of generating leads for personal selling, the best referrals come from:

Accepted Answer

A)  channel members.
B)  vendors.
C)  other salespeople.
D)  current customers.

Question 7

The internet has not been a successful medium for direct response advertising.

Accepted Answer

A) True 
 B)False

Question 8

Empowerment and reciprocity are important elements in a permission marketing program.

Accepted Answer

A) True 
 B)False

Question 9

Lifetime value is a figure that represents revenues and profits received from a customer throughout the lifetime of a relationship.

Accepted Answer

A) True 
 B)False

Question 10

Catalogs are an essential selling tool for many business-to-business marketing programs.

Accepted Answer

A) True 
 B)False

Question 11

Many times demographic and psychographic information about customers is not available through internal company records. In these situations:

Accepted Answer

A)  the information can be purchased from external marketing research firms.
B)  a company can offer customers an incentive to provide the necessary information.
C)  the database can be appended with interaction and history information.
D)  geocoding can be appended to each customer's record.

Question 12

To avoid a confrontation with a customer and to avoid telling the customer that he or she is wrong, a salesperson can use the head-on approach to handling objections.

Accepted Answer

A) True 
 B)False

Question 13

Describe a frequency program.

Accepted Answer

Frequency programs are targete...

Question 14

The data warehouse holds all customer data.

Accepted Answer

A) True 
 B)False

Question 15

Successful loyalty programs include the two principles of:

Accepted Answer

A)  added value and reciprocity.
B)  low costs and data mining.
C)  data analysis and targeted messages.
D)  utilizing digital marketing techniques and social media.

Question 16

Data mining and data coding of a firm's database can help develop more personalized marketing communications and marketing programs.

Accepted Answer

A) True 
 B)False

Question 17

The need-satisfaction sales approach:

Accepted Answer

A)  strives to discover a customer's needs during the first part of the sales call and then provide solutions to those needs.
B)  requires the two organizations to develop a common mission.
C)  requires employees from the selling organization to analyze the buyer's business.
D)  uses specific statements to elicit specific responses from customers.

Question 18

With the head-on approach to handling objections, the salesperson:

Accepted Answer

A)  will allow the customer to talk about his or her fears and worries, then relate how another customer had similar fears and how the product being sold met those fears or worries.
B)  answers the objection directly.
C)  will reply "yes, but..." and then explain how the product's benefits will answer the customer's objection.
D)  avoids confrontation by sympathizing with the customer, then provides the correct information.

Question 19

Customers cite each of the following benefits to being a member of frequency or loyalty programs except:

Accepted Answer

A)  better deals and offers.
B)  entertaining content.
C)  discounts and savings.
D)  recognition and appreciation.

Question 20

The problem-solution sales approach requires salespeople from the selling organization to analyze the buyer's business to determine the problems the prospect is facing and then offer the most feasible solution.

Accepted Answer

A) True 
 B)False

Exam 11: Database and Direct Response Marketing and Personal Selling

Lifetime value is a figure that represents revenues and profits received from a customer throughout the lifetime of a relationship.

Correct AnswerverifiedShow Answer

The internet has not been a successful medium for direct response advertising.

Correct AnswerverifiedShow Answer

To avoid a confrontation with a customer and to avoid telling the customer that he or she is wrong, a salesperson can use the head-on approach to handling objections.

Correct AnswerverifiedShow Answer

Each of the following is an example of data mining except:

Correct AnswerverifiedShow Answer

Empowerment and reciprocity are important elements in a permission marketing program.

Correct AnswerverifiedShow Answer

The data warehouse holds all customer data.

Correct AnswerverifiedShow Answer

In terms of generating leads for personal selling, the best referrals come from:

Correct AnswerverifiedShow Answer

The need-satisfaction sales approach:

Correct AnswerverifiedShow Answer

Many times demographic and psychographic information about customers is not available through internal company records. In these situations:

Correct AnswerverifiedShow Answer

Customers cite each of the following benefits to being a member of frequency or loyalty programs except:

Correct AnswerverifiedShow Answer

Catalogs are an essential selling tool for many business-to-business marketing programs.

Correct AnswerverifiedShow Answer

Define lifetime value. How is it determined?

Correct AnswerverifiedThe lifetime value is based on the avera...View AnswerShow Answer

Data mining and data coding of a firm's database can help develop more personalized marketing communications and marketing programs.

Correct AnswerverifiedShow Answer

Describe a frequency program.

Correct AnswerverifiedFrequency programs are targete...View AnswerShow Answer

According to the Direct Marketing Association, about 60 percent of a typical direct marketing budget targets:

Correct AnswerverifiedShow Answer

Successful loyalty programs include the two principles of:

Correct AnswerverifiedShow Answer

With the head-on approach to handling objections, the salesperson:

Correct AnswerverifiedShow Answer

The problem-solution sales approach requires salespeople from the selling organization to analyze the buyer's business to determine the problems the prospect is facing and then offer the most feasible solution.

Correct AnswerverifiedShow Answer

The two primary metrics in customer relationship management (CRM) programs are:

Correct AnswerverifiedShow Answer

Data mining is:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The lifetime value is based on the avera...
View Answer

Correct Answer
verified

Correct Answer
verified
Frequency programs are targete...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified