1Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

Acustomer-perceived value

Bcustomer equity

Cshare of customer

Dcustomer profitability

Ecustomer lifetime value

2Sally purchased a newly introduced moisturizing lotion. By attempting to find out if the lotion's perceived performance matched her expectations, Sally was measuring her level of customer ________.

Aloyalty

Bsatisfaction

Cequity

Dengagement

Elifetime value

3Customer evangelists are those who ________.

Ause personal selling methods to market products and services

Btell others about their good experiences with a brand or product

Cuse their expertise to influence people about specific products

Dwork with quality-assurance teams to improve product safety

Eevaluate newly launched products in the marketplace

4The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.

Aperceived-value management

Bsocietal marketing

Ccustomer relationship management

Dpartner relationship management

Eenterprise resource planning

5Raymond purchased a Honda Civic six months ago because he perceived Honda's superiority over the competition. Raymond has been more than satisfied with his purchase and now has an emotional relationship with the Honda brand. Raymond's relationship with Honda is best referred to as ________.

Acustomer delight

Bcustomer lifetime value

Ccustomer equity

Dcustomer share

Ecustomer-perceived value

True or false6-10 are T or F questions

61. Marketing is managing profitable customer relationships.

7

2. A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

8

Customer relationship management focuses on retaining existing customers but not on acquiring new customers.

9

4. Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing offers.

10

5. The more loyal a firm's profitable customers, the lower its customer equity.