25 May Question 26. Customer loyalty is an important method of: A. creating new products.
Question
26. Customer loyalty is an important method of:
A. creating new products.
B. promoting efficiency.
C. sustaining an advantage over competitors.
D. promotional pricing strategies.
E. all of the above.
27. Whenever Harry goes down on Bay Street to have something to drink, he goes to Luther’s Pharmacy. There are many other “watering holes” on Bay Street but Harry will only go to them if Luther’s is closed. Luther’s has achieved __________________ from Harry.
A. customer loyalty
B. strategic acceptance
C. relative market share
D. value-based penetration
E. operational excellence
28. Banks have begun offering special accounts designed to attract junior high school children. These kids save in very small amounts creating more work than the account is probably worth to the bank but bankers know consumers are creatures of habit and young people they service now will likely become adult customers. These banks recognize:
A. operational excellence as a macro strategy.
B. the life-time value of customers.
C. product excellence leads to loyal customers.
D. segmentation, targeting, and positioning strategy.
E. diversification demographics.
29. The key to modern customer retention programs is:
A. operational excellence as a macro strategy.
B. viewing customers with the life-time value perspective.
C. product excellence leads to transactional customers.
D. segmentation, targeting, and positioning strategy.
E. situational ethics.
30. Most marketers spend heavily on customer retention programs, recognizing customer retention leads t
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