chpt 10

When considering the customer development funnel for physical products, the steps in the ________ funnel are the same as are found in the traditional sales funnel.

"Keep Customers" "Get Customers"

________ is a type of CRM report that segments by customer or customer group on purchases or dates of purchase.

Customer vector

Which of the following is true of follow-up?

Electronic approaches to follow-up dramatically lower the cost of marketing costs.

Which of the following statements is true of sales forecasting?

In many cases, the best sales forecast you can come up with is an educated guess.

Which of the following is true of cognitive dissonance?

It is the consistency between experience and belief. X

The term for measures or metrics that identify the outcomes that are most important to the success of a business are known as

KPIs.

________ occurs when other organizations talk about you, your firm, or your products or services and you do not pay them directly for the mentions.

Media partnerships X Earned media

Billboards are a tradition form of ________, and the online equivalent would be the placement in search engine results and portal ads.

OOH ad placements

Which of the following is true of customer retention?

The CRM aspect of customer retention is based on short-term monitoring of customers. X

A web-based program that uses artificial intelligence techniques to automate tasks such as searches is called

a bot.

Which variety of paid media costs the most for each 1,000 impressions?

cable TV ads X newspaper ads

Which of the following is not an example of a media partnership?

co-marketing X sponsorship

Which of the following is the key to customer relationship management (CRM)?

educating customers about a new product or service X the data on current or prospective customers

Which of the following is true of the presentation phase of personal selling?

keep your presentation consistent X rehearse presentations and memorize facts

The proof of a CRM effort is seen in

low levels of customer loyalty in new customers. X high levels of inconsistency among customers in terms of experience and belief.

To get people to buy what you are offering, you first need to get them to notice a promotional effort, called

making an impression.

Which of the following is a form of advertising that is inserted into the regular flow of noncommercial webpages, the FTC requires them to carry an identifier such as "Sponsored" to show it is an ad.

native advertising

Customers may ________ themselves by asking for more information after finding your website or responding to a direct mail advertisement.

prepare X diversify

The steps in the "Get Customers" portion of the customer development funnel for physical products are awareness, interest, consideration, and purchase. Here, consideration refers to

the process of getting into the prospective customer's final list of brands of products or services they may purchase.

The general report of the CRM summarizes information by date, by product or service, or by the purchases of an individual person or firm

the sales outcome report X the customer vector report

Business owners can figure how to better target ads or promotions to particular types of customers if

they link sales and purchase basis to the type of customer.

Hiring a new salesperson can make this phase of personal selling lengthier.

prospect and evaluate

Which of the following sets of numbers are the three you need to arrive at your sales forecast?

prospective customers, hit rate, and sale amount

Ty ran a shop that sold and traded sports cards and sports memorabilia. He bought space on a billboard overlooking one of the main highways into the city and included the shop's phone number (555-CARDS). The shop soon received a flood of phone calls inquiring about his location, stock, and business hours. The number of customers entering the store increased by tenfold and his sales doubled. Every person who traveled to Ty's shop to look at his inventory as a result of his billboard promotion are

prospects

Which of the following answer options is one of the four steps in the "Get Customers" portion of the customer development funnel for physical products?

referrals X purchase

People who receive a promotional impression and who give some thought to buying the product are considered

sales leads.

Product expansion is a strategy whose goal is growth, based on

selling existing customers a product or service they have never bought before.

In the PESO model, the overlap of the circles Shared and Earned is where your ________ reside.

social media embassies X media partnerships

Paying for a local organization's needs in exchange for recognition is referred to as

sponsorships

Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase?

the marketing funnel