Customer Value Analysis Quiz

Which of the following is true for the modern company organization chart?

• Frontline employees are less important than top management.

• Customers are at the top of the pyramid.

• Top management is at the top of the pyramid.

• Customers are less important than middle management.

• Frontline employees are at the top of the pyramid.

In a modern customer-oriented organization chart, the ________ of an organization immediately follow the customer segment.

• top management

• marketing department

• middle management

• frontline people

• lower management

________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.

• Total customer cost

• Total customer benefit

• Total benefits of ownership

• Value proposition

• Value delivery system

Which of the following is the first step in customer value analysis?

• Examine how customers in a specific segment rate the company's performance.

• Assess the company's and competitors' performances on the different customer values against their rated importance.

• Identify the major attributes and benefits that customers value.

• Monitor customer values over time.

• Assess the quantitative importance of the different attributes and benefits.

The final step of customer value analysis is to ________.

• identify the major attributes and benefits that customers value

• assess the company's and competitors' performances on the different customer values against their rated importance

• examine how customers in a specific segment rate the company's performance

• monitor customer values over time

• assess the quantitative importance of the different attributes and benefits

________ can be defined as a deeply held commitment to rebuy or repatronize a preferred product or service in the future despite situational influences and marketing efforts having the potential to cause switching behavior.

• Value proposition

• Loyalty

• Satisfaction

• Customer

• Customer value

Sammy's is a fast food chain that offers burgers, sandwiches, and shakes. It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it. Hence, Sammy's is focusing its marketing efforts on its ________ system.

• horizontal marketing

• cost versus benefit

• consumption

• marketing channel

• value delivery

Which of the following is true for customer satisfaction?

• Satisfaction is a deeply held commitment to rebuy or repatronize a preferred product despite situational influences.

• Greater customer satisfaction has also been linked to higher returns and lower risk in the stock market.

• Only increased customer satisfaction can help a company increase its profits.

• The ultimate goal of a customer-centered firm is to create high customer satisfaction.

• Consumers often form more favorable perceptions of a product with a brand that is new.

Field Grocery wants to learn the strengths and weaknesses in customer service at all the Field Grocery stores. Which of the following methods can it use for this?

• mystery shoppers

• buyer brokers

• group buyers

• personal shoppers

• buying agents

Justin conducts a survey on behalf of his firm, Komatsu. In the survey, he asks prospects to rate Caterpillar and Komatsu branded tractors on their performance on attributes that are important to the customer. In which step in the customer value analysis is Justin engaged?

A

B)

C)

D)

E)

• Assess the quantitative importance of the different attributes and benefits.

• Identify the major attributes and benefits customers value.

• Assess the company's and competitors' performances on the different customer values against their rated importance.

• Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis.

• Monitor customer values over time.