Module 2

Question 1

It is an individual or business that purchases another company’s goods or services

Answer 1

customers

Question 2

They are what drives revenues.

Answer 2

Customers

Question 3

They can be individuals buying for personal use or
organizations acquiring for operational needs.

Answer 3

Customers

Question 4

Businesses can neither survive nor thrive without them.

Answer 4

Customers

Question 5

It is a person or organization that purchases goods or services from a business.

Answer 5

Customer

Question 6

They are focused on obtaining a product or
service in exchange for payment. The relationship between the business is primarily transactional.

Answer 6

customer

Question 7

It is a person who Uses or consumes a product or service.

Answer 7

Consumer

Question 8

It is a person or organization that receives professional services from a business, such as legal or financial services.

Answer 8

Client

Question 9

FIVE MAIN TYPES OF CUSTOMERS

Answer 9

1. Loyal Customers
2. Impulse Customers
3. Discount Customers
4. Need-based customers
5. Wandering Customers

Question 10

Customers that make up a minority of the customer base but generate a large portion of sales.

Answer 10

Loyal Customers

Question 11

This type of customers generally represents no more than 20% of a company’s customer base but contributes the majority of sales revenue.

Answer 11

Loyal customers

Question 12

Customers that do not have a specific product in mind and purchase goods when it seems good at the time.

Answer 12

Impulse customers

Question 13

They are the best customers to upsell to and are the second most attractive segment (after loyal customers) to focus on.

Answer 13

Impulse Customers

Question 14

Customers that shop frequently but base buying decisions primarily on markdowns.

Answer 14

Discount customers

Question 15

This type of customer seldom purchases products at full price and shops around for the best markdowns.

Answer 15

Discount customers

Question 16

Customers with the intention of buying a specific product.

Answer 16

Need-based customers

Question 17

Customers that are not sure of what they want to buy.

Answer 17

Wandering customers

Question 18

These are problems or pain points consumers are trying to solve.

Answer 18

Customer needs

Question 19

They’re usually frustrations or uncertainties surrounding experiences that drive customers to search for products or services that resolve them.

Answer 19

Customer needs

Question 20

Customer needs fall under one of three categories:

Answer 20

1. Functional Needs
2. Social Needs
3. Emotional Needs

Question 21

Needs that focus on achieving a specific task or function. Customers require solutions that allow them to perform these activities.

Answer 21

Functional needs

Question 22

Needs that fixate on the perception of a product or service. While these needs aren’t at the forefront of a customer’s mind, they can impact their final decision.

Answer 22

Social needs

Question 23

These needs concentrate on feeling a certain way when using a product or service.

Answer 23

Emotional needs

Question 24

It is usually reflect the desired preferences for specific ways of satisfying a need.

Answer 24

Customer’s wants

Question 25

It is a requirement arising out of the desire, aspiration, or motivation of an individual to get satisfaction.

Answer 25

Want

Question 26

These are the hurdles or problems customers face while interacting with a company, its products, or its services. T

Answer 26

Customer pain points

Question 27

Types of Customer Pain Points

Answer 27

1. Financial pain points 2. Process pain points 3. Support pain points 4. Productivity pain points

Question 28

These are the most critical of all customer pain points.

Answer 28

Financial pain points

Question 29

They occur when customers feel they are paying too much for a product service.

Answer 29

Financial pain points

Question 30

It may refer to operational inefficiencies along the customer journey.

Answer 30

Process pain points

Question 31

These are often internal issues that may restrict businesses from resolving customer pain points quickly or effectively.

Answer 31

Support pain points

Question 32

It may decrease agent productivity and diminish the efforts behind the customer service offered.

Answer 32

Productivity pain points

Question 33

The ability to recognize pain points translates to better ____________.

Answer 33

product quality

Question 34

Aspects of a business that customer pain points affect:

Answer 34

1. Product quality 2. Research & Development 3. Brand Image 4. Competition

Question 35

Five Steps of the Consumer Decision Making Process

Answer 35

1. Problem recognition 2. Information search 3. Alternatives evaluation 4. Purchase decision 5. Post-purchase evaluation

Question 36

It is a company approach that ensures your target consumers receive the results that meet their expectations when using your products or services.

Answer 36

Customer success

Question 37

It refers to the overall outcome of customer experiences when using your product or service

Answer 37

Customer success

Question 38

It is more focused on individual interactions between customers and your company

Answer 38

Customer experience

Question 39

It refers to how well a customer feels your company has treated them during their interactions with it

Answer 39

Customer experience