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Question
Which of the following customer retention measurement methods is described: the percentage of customers at the beginning of the year that are still customers by the end of the year?A) customer valuation
B) retention rate
C) complaint analysis
D) defection rate
E) benchmark
Answer
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Related questions
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WEIGHT LOSS MINI CASE: Peter has decided that he wants to lose weight and develop a more defined physique in order to make himself more attractive to women. To this end, he joins a gym and begins eating low-fat, low-calorie foods. In particular, he cuts potato chips out of his diet and packs fruit in his lunch instead. After a few weeks, Peter decides that he actually prefers fruit with his lunch.
In the WEIGHT LOSS MINI CASE, after several weeks of exercising, Peter is still not seeing the desired results and decides that he is just too busy to go to the gym enough, and that his employer is really to blame for his failure to lose weight. Which of the following defense mechanisms has Peter demonstrated?
A) rationalization
B) projection
C) repression
D) aggression
E) withdrawal
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WEIGHT LOSS MINI CASE: Peter has decided that he wants to lose weight and develop a more defined physique in order to make himself more attractive to women. To this end, he joins a gym and begins eating low-fat, low-calorie foods. In particular, he cuts potato chips out of his diet and packs fruit in his lunch instead. After a few weeks, Peter decides that he actually prefers fruit with his lunch.
In the WEIGHT LOSS MINI CASE, the desire to be attractive to women is Peter's ________.
A) goal
B) target
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PARTY BEER MINI CASE: Party Beverages brews beer and specifically targets its products to college students and young professionals. Its advertisements typically show a group of young adults having fun and drinking Party Beer together, along with their slogan "Without the right Beer, it's just not a Party."
In the PARTY BEER MINI CASE, Party Beverages' advertisements suggest that Party Beer will satisfy which of Murray's psychogenic needs?
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B) needs concerned with human power
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FURNITURE MINI CASE: Andrews Mountain Furniture is a manufacturer of home furnishings in eastern North Carolina. Andrews has been in business for 150 years and its advertising emphasizes the company's long history of production and sales in the United States. It also encourages cross-generational brand loyalty within families by suggesting adults should buy the same furniture that their parents had in their homes.
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A) low in ethnocentricity
B) low in dogmatism
C) high in dogmatism
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TEQUILA MINI CASE: Viva Beverages has recently launched its own brand of tequila under the slogan "I never have, but I'd like to." Viva's television advertisements are set in a trendy night club with a well-dressed man standing at the bar. A scantily clad woman with a Russian accent is serving drinks. She approaches him and the following interaction ensues:
WOMAN: What can I do for you?
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MAN: I never have, but I'd like to ...
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A) super-id
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A) egoistic needs
B) physiological needs
C) self-actualization needs
D) safety and security needs
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Failure to achieve a goal often results in feelings of ________.
A) achievement
B) aspiration
C) self-awareness
D) personal promotion
E) frustration
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P & G is worried about the financial hardship of America's upper class, which amounts to 40% of the country's households.
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The family life cycle is a classification of the phases most families go through and each stage represents an important target segment to many marketers.
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Consumers in different social classes tend to vary in terms of values, product preferences, and buying habits.
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Demographic variables can reveal ongoing trends that signal business opportunities, such as shifts in age and income distribution.
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Targeting is the process of dividing a market into subsets of consumers with common needs or characteristics.
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MUSEUM MINI CASE: Central City Art Museum is looking to increase museum revenues by trying to draw more people to the museum. Research has shown that the most frequent users of the museum are over 55 years old, have college degrees, and have a household income of over $100,000. Less frequent users of the museum have the same education and income profile as frequent users, but tend to be younger, between 35 and 55. Surveys suggest that these younger adults would use the museum more frequently, but do not have enough time due to the demands of their children and families. In order to increase museum entrance revenues, the administrative team wants to attract people who are likely to become heavy users of the museum when they get older, and try to bring them into the heavy user category at an earlier age. In an effort to encourage heavy museum use, the museum has begun a membership program that offers discounts on museum entrance and gift shop purchases and special exhibit preview events for members. The museum has also begun to offer free children's art and museum appreciation classes on weekend afternoons that will allow younger adults to drop their children off once a week and then enjoy the museum's exhibits and caf. In order to promote its new children's programming, the museum acquired an address list of local households with children, including the ages of those children, and intends to send tailored messages specifically highlighting programming that is age-appropriate for each household's children.
In the MUSEUM MINI CASE, the most important differentiating factor between frequent and less frequent users is ________.
A) income
B) age
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MUSEUM MINI CASE: Central City Art Museum is looking to increase museum revenues by trying to draw more people to the museum. Research has shown that the most frequent users of the museum are over 55 years old, have college degrees, and have a household income of over $100,000. Less frequent users of the museum have the same education and income profile as frequent users, but tend to be younger, between 35 and 55. Surveys suggest that these younger adults would use the museum more frequently, but do not have enough time due to the demands of their children and families. In order to increase museum entrance revenues, the administrative team wants to attract people who are likely to become heavy users of the museum when they get older, and try to bring them into the heavy user category at an earlier age. In an effort to encourage heavy museum use, the museum has begun a membership program that offers discounts on museum entrance and gift shop purchases and special exhibit preview events for members. The museum has also begun to offer free children's art and museum appreciation classes on weekend afternoons that will allow younger adults to drop their children off once a week and then enjoy the museum's exhibits and caf. In order to promote its new children's programming, the museum acquired an address list of local households with children, including the ages of those children, and intends to send tailored messages specifically highlighting programming that is age-appropriate for each household's children.
In the MUSEUM MINI CASE, the museum's approach to promoting its new children's programming is best described as ________.
A) countersegmentation
B) mass marketing
C) narrowcasting
D) concentrated marketing
E) demographic segmentation
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A) premier position
B) positioning against competition
C) umbrella positioning
D) key attribute positioning
E) un-owned perception positioning
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Positioning Joy (a fragrance brand) as "the costliest perfume in the world" is an example of ________.
A) premier position
B) positioning against competition
C) umbrella positioning
D) key attribute positioning
E) un-owned perception positioning
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Campbell's slogan "soup is good food" is an example of ________.
A) premier position
B) positioning against competition
C) umbrella positioning
D) key attribute positioning
E) un-owned perception positioning
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________ is a statement or slogan that describes a company's character without referring to its specific branded products.
A) Premier position
B) Positioning against competition
C) Umbrella positioning
D) Key attribute positioning
E) Un-owned perception positioning
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Home Depot uses its individual customer purchase history to design customized ads. This is an example of ________.
A) psychographic segmentation
B) geodemographic segmentation
C) countersegmentation
D) mass marketing
E) behavioral targeting
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________ are bits of computer code placed on browsers to keep track of online activity.
A) Data minerals
B) Candies
C) Cookies
D) Binodes
E) Geofences