St. Leo ACCOUNTING 560 Accounting Quiz Ch 5 - 6

1. Question : When marketers profile the customer buying-decision process by thinking about how they themselves would act, these marketers are employing the ________.
  Student Answer:  retrospective method
     introspective method
    consumption system method
    prospective method
    prescriptive method
 2. Question : All of the following are examples of the perils of CRM EXCEPT ________.

  Student Answer:  implementing CRM before creating a customer strategy
     the enormous cost that might eventually drain significant profits from the organization
    rolling out CRM before changing the organization to match
    assuming more CRM technology is better
    stalking, not wooing, customers
 3. Question : Using his company's ________ lets a telemarketer respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.

  Student Answer:   data warehouse
    call back list
    call rejection list
    corporate database
    Better Business Bureau contacts
 4. Question : ________ refers to the manner by which consumers code, categorize, and evaluate financial outcomes of choices.

  Student Answer:  Cost accounting
    Financial accounting
    Behavioral accounting
     Mental accounting
    Factual accounting
 5. Question : People choose products that reflect and communicate their role and actual or desired ________ in society.

  Student Answer:  group
     status
    attitudes
    beliefs
    feelings
 6. Question : In general, companies can use their databases in all of the following ways EXCEPT ________.

  Student Answer:   to predict competitive strategies and plans
    to identify prospects
    to decide which customers should receive a particular offer
    to deepen customer loyalty
    to avoid serious customer mistakes
 7. Question : Although actual costs vary from business to business depending on the complexity of the sales process, the most expensive customer acquisition method based on cost per solicitation is ________.

  Student Answer:   personal selling
    direct mail
    telemarketing
    banner advertisements
    e-mail
 8. Question : ________ risk occurs if the product fails to perform up to expectations.

  Student Answer:  Physical
    Financial
    Social
    Psychological
     Functional
 9. Question : Of customers who register a complaint, ________.

  Student Answer:  the majority will do business with the company again because they are unwilling to dedicate the effort required to find another vendor
    none will do business with the company again
    customers whose complaints are satisfactorily resolved spread more word of mouth than those who continue to be dissatisfied
    the speed of resolution has no impact on the likelihood of repeat business
     between approximately half and three-quarters will do business with the company again if their complaint is resolved
 10. Question : The buying process starts when the buyer recognizes a(n) _________.

  Student Answer:  product
    advertisement for the product
    salesperson from a previous visit
     problem or need
    internal cue
 11. Question : Marketers use all of the following techniques to convert a low-involvement product into one of high involvement EXCEPT ________.

  Student Answer:  linking the product to some involving personal situation
    linking the product to some involving issue
    designing advertising to trigger strong emotions related to personal values or ego defense
    adding an important feature
     raising the price
 12. Question : With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.

  Student Answer:   conjunctive
    lexicographic
    elimination-by-aspects
    primary
    secondary
 13. Question : Susan Lefferts' company advertises widely. Ms. Lefferts uses business reply cards attached to her company's magazine ads to build her company's database. In which of the following ways would Ms. Lefferts most likely use the database?

  Student Answer:  To deepen customer loyalty
    To reactivate customer purchases
    To avoid serious customer mistakes
    To determine if up-selling is appropriate
     To identify prospects
 14. Question : Anne prefers Yoplait strawberry yogurt over other brands. When she decides to try a different flavor, she picks another Yoplait yogurt because she believes that, if the strawberry flavor is good, other Yoplait flavors must be good as well. This behavior is best described as ________.

  Student Answer:  discrimination
    associative networking
     generalization
     heuristic thinking
    self-actualization
 15. Question : Consumption may be shaped by ________ (such as marriage, childbirth, or divorce).

  Student Answer:  the psychological life cycle
    the product life cycle
    the life/death life cycle
    postpuberty cycles
     critical life events or transitions
 16. Question : The 20-80 rule reflects the idea that ________.

  Student Answer:   the top 20% of customers often generate 80% of the company's profits
    the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend
    20% of customers are unprofitable, and 80% make up a company's profits
    20% of the company's profits are generated by the top 80% of customers
    any new product offering will be accepted by 20% of the customers immediately, but 80% of the customers will be up for grabs throughout the product's life cycle
 17. Question : Consumers often choose and use brands that have a brand personality consistent with how they see themselves, also known as the ________.

  Student Answer:   actual self-concept
    ideal self-concept
    others' self-concept
    prohibitive self-concept
    suggestive self-concept
 18. Question : A child growing up in the United States is exposed to all of the following values EXCEPT ________.
  Student Answer:  achievement and success
    activity
    efficiency and practicality
     the importance of the group in daily life
    freedom
 19. Question : When companies provide rewards to customers who buy frequently and in substantial amounts, this is referred to as ________.
  Student Answer:  benefit programs
     frequency programs
    satisfaction programs
    loyalty programs
    quality programs

 20. Question : All of the following are methods to form strong customer bonds EXCEPT ________.
  Student Answer:  creating superior products, services, and experiences for the target market
    making it easy for customers to reach the appropriate company personnel and express their needs, perceptions, and complaints
     organizing and making accessible a database of information on individual customer needs, preferences, contacts, purchase frequency, and satisfaction
    running award programs recognizing outstanding employees
     concentrating the planning and management of the customer satisfaction and retention process within the marketing department