ch 10 connect hw

share of wallet (CRM)

20% of a customer's weekly expenditures made at a coffee shop

customer loyalty (CRM)

a customer who only shops at Macy's and ignores advertisements from other department stores

market basket analysis (CRM)

a grocer who had snack cakes in the bread aisle but now also has snack cakes near the coffee

frequent shopper program (CRM)

after earning 100 points where each dollar spent equals a point, the customer receives a $5 reward

The customer that took up two hours with a sales associate and did not make a purchase, is an example of a ____________ customer for Gentry's.

lead

To encourage add-on selling, Patricia does a ___________________ to determine what products consumers purchase on the same shopping trip.

market basket analysis

iron (customer pyramid)

may not be financially able to spend much at the retailer

Customer Lifetime Value (CLV) (crm)

placing more importance on some customers than others, based upon their purchases

Gold (customer pyramid)

price can sometimes be a factor that plays into a customer's decision making process

One of the ways that Patricia hopes to continue to gather customer information is to develop a loyalty program that focuses on holders of Gentry's

private label credit card

Gentry's knows that customer _________________ is a better growth option than customer acquisition.

retention

lead (customer pyramid)

returns more product than they keep after each purchase

Platinum customer pyramid

routinely shops at a certain retailer and ignores advertisements from other retailers