MKT 450 Exam 2 Review (Classes 7 - 10)

Concerning invitations to take our survey, Coach Garver discussed research that showed that response rates go up by ______________% when the email or letter is personalized.

400.0

What type of CX survey samples the overall marketplace? Please select all that apply.

Competitive benchmark survey

What type of CX survey is strategic in nature? Please select all that apply.

Competitive benchmark survey; Relationship survey

What type of CX survey is typically compared to a best competitor? Please select all that apply.

Competitive benchmark survey; Relationship survey

The NPS or Net Promoter Score is a dependent variable in CX research. The NPS allows us to compare our overall performance to different companies, within and outside of our industry. It is a single question that assesses loyalty via a recommendation question. The NPS is NOT an mean score, but instead the percentage of customers falling into different loyalty groups. More specifically, it adds up the % of Promoters and Passives and subtracts the % of Detractors.

False

Besides CX surveys, all of the following are other voices in Voice of the Customer research except:

Key Driver Modeling

The formula for the NPS is as follows: NPS =___________ - ___________

NPS = % of Promoters - % of Detractors

In the NPS, customers who give us a 9 or 10 are called__________, and customers who give us a 7 or 8 are called__________, while customers who give us a 6 or below are called____________.

Promoters; Passives; Detractors

What type of CX survey samples our customers? Please select all that apply.

Relationship survey; Transaction survey

Getting the right attributes for CX research is critical. When determining the CX attributes, I first look at it from my own perspective. Then, I look at it from the customers" and managers' perspective. Then, I like to directly to customers, asking them if I got the right attributes with the right wording so that they are being interpreted the right way. I also ask if I missed any attributes.

True

In the Dewey Vs. Truman presidential election, a sampling blunder occurred. What happened? They used a phone survey method to get their data and results. At that time, only the wealthy American had phones, so the researchers did not get a representative sample. They got a sample that did not look like the population, and thus their predication was wrong.

True

Interconnected CX surveys means that different types of CX surveys have the same questions, with the same exact wording of attributes, with the same exact scales and the same number of scale points.

True

CX research objectives include the following:

What is important to our customers? How are we performing? What should we prioritize to fix or improve?

CX research objectives include the following: (just select one correct answer)

What is important to our customers? How are we performing? What should we prioritize to fix or improve?

Randomly selected samples means that every participant would have an __________ and _____________ chance to be selected in the sample.

equal; known

Given the information below, how many customers do we need to send survey invitations to take our survey? No commas in answers ______________ 100,000 customers in the database. 10% project "clean" response rate We need a final sample size of 300

3000

What is the response rate given the information below? Please round to 1 decimal place. ______________% Email Invitations to take the survey = 5,000 Email Bounce Backs = 500 Responses = 500 Low quality responses = 20

10.7

Concerning sample size, ______________ responses would yield somewhat low confidence, and this sample size should really be the desired minimum.

100.0

Concerning sample size for predicting results with very large size of populations (Presidential elections in the USA), ______________ to ________________ or more responses would yield confidence in the findings for these research studies. no commas in answer

1500 to 2000

Top box customers on NPS ( 9s and 10s) buy ______________ times more in revenue than other customers.

2.5

Concerning sample size, ______________ or more responses would yield confidence in the findings for many research studies.

250.0

Concerning sample size, we need at least ______________ responses, but this would yield low confidence (really low) and we should view the findings as exploratory in nature.

30.0

What type of CX survey is tactical in nature? Please select all that apply.

Transaction survey

What type of CX survey is typical administered on a continual basis? Please select all that apply.

Transaction survey

A Representative sample means getting the right person to take our survey.

True