The time inputs we need for CLV include

a. estimates of retention rate.

b. estimates of retention rate and average lifespan of particular product

c. average lifespan of particular product.

d. average age for the segment under consideration.

CRM programs are tools used by companies to track spending by collecting information, such as customer identification and contact information, and some form of information on the RFM of the customers purchase history. What does RFM represent?

a. retention, frequency, memory

b. recency, financial, monetary

c. retention, financial, memory

d. recency, frequency, monetary

_________ factors are actions that go above and beyond customer expectations.

a. Extra

b. Motivating

c. Hygiene

d. Bonus

When can marketing become operational?

a. when computing CLV

b. when production is tied to marketing

c. when sales-people go on call

d. when implementing plans to create CRM databases

In an attribute-based approach, a map created from attributes would involve customer

a. interviews.

b. surveys.

c. advertisements.

d. promotions.

__________ is defined as the trade-off of the quality of the purchase received compared with the price paid and other costs incurred.

a. Recovery

b. Value

c. Marketing

d. Expectations

Conjoint studies are run to understand how consumers make

a. trade-offs.

b. impressions

.c. money.

d. observations.

Information originating from the marketing mix of a company that contributes to a consumers expectations may include

a. positioning claims made in advertising.

b. suggestions of quality based on the price of a product.

c. trust worthy data on product quality.

d.	positioning claims made in advertising and suggestions of quality based on the price of a product.

Honda offers a line of cars from less expensive to more expensive. What is Hondas goal with regard to this line?

a. the line will create market buzz

b. sales will increase

c. the line will extend the customers lifetime with Honda

d. the line will get Honda into new markets

Evan visits a travel website to book a trip to Europe. While he is fairly certain he has selected good flights and exciting destinations, he cannot fully evaluate his trip until he actually arrives. The components of Evans trip can best be described as __________ goods.

a. qualitative

b. credence

c. search

d. experience