Problem Set 4 Flashcards
Describe the basic idea behind a focus group. Are focus groups an effective way of gathering data about customer preferences and tastes?
The text defines a focus group as actively solicited customer feedback.
First, focus groups narrowly address a single topic or group of topics.
Second, focus groups draw individuals with similar characteristics in a highly focused environment
Focus groups can be used to identify topics that draw out a strong set of opinions which
can be used to define the status of the product or service.
Describe the concept of benchmarking.
Benchmarking is the process of finding a company that is very good at a particular activity, studying what it does, and gathering ideas for improving your own operation in
this area
Which is true of online customer reviews of merchandise?
Retailers and designers can respond more quickly to online reviews because the customer feedback is instantaneous
Closed-loop customer-relationship management (CRM) incorporates the following design elements:
Complaint resolution and feedback
Customer rationalization refers to pursuing customers who
add the greatest advantage and profits over time.
Which is true of hard data and ordinal rankings?
The continuum of “strongly disagree-disagree-neutral-agree-strongly agree” is ordinal in nature.
Customer-relationship management Systems (CRMS) are used to manage the three
phases of customer-relationship management: acquisition, retention, and
enhancement. Which of the following is a correct match of description to the phase?
c) Retention – loyalty cards.
Benchmarking external customer service in another company may help an organization
answer which of the following questions?
How should customer service specialists be trained?
How would customer complaints be settled?
How should refunds be managed?
Which is a correct match of benchmarking type to an example of that type?
Performance benchmarking – examination of speed of concept to market.
