L3

Question 1

the overall process of building and maintaining profitable customer relationship by delivering superior customer value and satisfaction

Answer 1

CUSTOMER RELATIONSHIP MANAGEMENT

Question 2

the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

do not judge values and costs “accurately” or “objectively.”

Answer 2

customer-perceived value

Question 3

Companies aim to delight customers by promising only what they can deliver and then delivering more than they promise.

Answer 3

TRUE

Question 4

companies create engagement and relationships through product experiences, brand-building advertising, websites, and social media.

Answer 4

Low –margin customers

Question 5

companies create full partnerships with key customers.

For example, sales representatives work closely with large retailers that sell the company’s products.

Answer 5

High – margin customers

Question 6

fostering direct and continuous customer involvement in shaping brand conversations, brand experiences, and brand community.

Answer 6

customer-engagement marketing

Question 7

goes beyond just selling a brand to consumers.

goal is to make the brand a meaningful part of consumers’ conversations and lives.

Answer 7

Customer-engagement marketing

Question 8

consumers themselves play role in shaping their own brand experiences and those of others.

Answer 8

consumer-generated marketing,

Question 9

Research shows that it’s five times cheaper to keep an old customer than acquire a new one.

Answer 9

TRUE

Question 10

total combined customer lifetime values of all of the company’s current and potential customers.

Answer 10

Building Customer Equity

Question 11

The goal is to build the right relationships with the right customers.

Answer 11

Building Customer Equity

Question 12

involves using digital marketing tools such as websites, social media, mobile ads and apps, online video, email, blogs, and other digital platforms to engage consumers anywhere, anytime via their computers, smartphones, tablets, internet ready TVs, and other digital devices.

Answer 12

Digital and Social Media Marketing

Question 13

working closely with others inside and outside the company to jointly engage and bring more value to customers.

Answer 13

partner relationship management