Entrepreneurship Chapter 10
Showing posts with label Entrepreneurship Chapter 10. Show all posts
Showing posts with label Entrepreneurship Chapter 10. Show all posts

Which of the following is true of follow-up?

Which of the following is true of follow-up? 





A. It increases cognitive dissonance in customers.

B. It is typically done only once after a sale.

C. Electronic approaches to follow-up dramatically lower the cost of marketing efforts.

D. It refers to business owners doing what they said they would do.


Answer: C. Electronic approaches to follow-up dramatically lower the cost of marketing efforts.

The proof of a CRM effort is seen in:

The proof of a CRM effort is seen in: 





A. high levels of cognitive dissonance in customers.

B. more tracked prospects making initial purchases.

C. low levels of customer loyalty in new customers.

D. high levels of inconsistency among customers in terms of experience and belief.


Answer: B. more tracked prospects making initial purchases.

Business owners can figure how to better target ads or promotions to particular types of customers if:

Business owners can figure how to better target ads or promotions to particular types of customers if: 





A. they track sales of their competitors.

B. they identify the defects in their products.

C. they use the diversification strategy rather than the product expansion strategy.

D. they link sales and purchase basis to the type of customer.


Answer: D. they link sales and purchase basis to the type of customer.

If business owners track sales by purchase basis:

If business owners track sales by purchase basis: 





A. they can minimize the cognitive dissonance experienced by their customers.

B. they can predict the performance of their competitors.

C. they can easily decide which marketing efforts to continue.

D. they can find the defects in their products.


Answer: C. they can easily decide which marketing efforts to continue.

Which of the following is most likely to be true regarding customer vector?

Which of the following is most likely to be true regarding customer vector? 





A. It considerably increases cognitive dissonance.

B. It makes it difficult to decide which marketing efforts to continue or expand.

C. It helps marketers in identifying prospective customers.

D. It helps entrepreneurs decide how to operate several key aspects of their marketing efforts.


Answer: D. It helps entrepreneurs decide how to operate several key aspects of their marketing efforts.

In the case of existing customers, _____ gives the information on the date and type of contact, since in many sales situations, it can take repeated contacts before a sale is made.

In the case of existing customers, _____ gives the information on the date and type of contact, since in many sales situations, it can take repeated contacts before a sale is made. 





A. channel data

B. performance data

C. intercommunication data

D. sales data


Answer: B. performance data

Which of the following is the key to customer relationship management (CRM)?

Which of the following is the key to customer relationship management (CRM)? 





A. Displaying accurate financial records in annual reports

B. Educating customers about a new product or service

C. The data on current or prospective customers

D. The press release and press kit


Answer: C. The data on current or prospective customers

Product expansion is a strategy whose goal is growth, based on:

Product expansion is a strategy whose goal is growth, based on: 





A. selling more of the firm's product or service to the existing customer base.

B. selling in areas or to groups previously not served by the business.

C. selling existing customers a product or service they have never bought before.

D. adding new products or services to the firm's existing collection of offerings.


Answer: C. selling existing customers a product or service they have never bought before.

Customer loyalty programs focus on developing a strategy that is based on:

Customer loyalty programs focus on developing a strategy that is based on: 





A. selling more of the firm's product or service to the existing customer base.

B. selling in areas or to groups previously not served by the business.

C. selling existing customers a product or service they have never bought before.

D. adding new products or services to the firm's existing collection of offerings.



Answer: A. selling more of the firm's product or service to the existing customer base.

Which of the following is true of cognitive dissonance?

Which of the following is true of cognitive dissonance? 





A. It is the consistency between experience and belief.

B. It happens frequently especially with more expensive items.

C. It almost always happens with purchases that are not considered risky.

D. It is a doubt that occurs before making a purchase.


Answer: B. It happens frequently especially with more expensive items.

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