What is a group of customers who are bound together by their loyalty to a retailer?

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• Q60:

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  • Related Questions
  • Are applications of statistical techniques and models that seek?
  • What do we call a set of activities designed to develop and manage customer loyalty and long term customer relationship?
  • What is a retailer's role in the supply chain quizlet?
  • Which is a group of customers who are bound together by their loyalty to a retailer and the activities in which the retailer engages?

  Which of the following statements best describes a customer lifetime value (CLV)? A) CLV is the value placed upon a retailer by a consumer. B) CLV is a numerical value of how much a "best customer" shops. C) CLV is what a customer contributes to a retailer's profits over his or her entire relationship with the retailer. D) CLV is an assessment of how many valued customers shop with a retailer. E) CLV is what retailers use to rate the value of guaranteed merchandise.

  

• Q61:

  Which of the following approaches toward retaining customers has retailers offering unique benefits and targeted messages to individuals? A) Segmentation B) Personalization C) Frequent-shopper programs D) Add-on selling E) Community

• Q62:

  What is market basket analysis,and when do retailers utilize it?

• Q63:

  A way to achieve customer alchemy is through _____,which involves offering and selling more products and services to existing customers and increasing the retailer's share of wallet with these customers. A) 1-to-1 retailing B) add-on selling C) personalizing D) data mining E) cross retailing

• Q64:

  At La Rue Fashions,there is a certain customer who makes large purchases every Friday and returns everything two weeks later.In response,the manager recently created a policy and published it.It included specifics of the store's terms regarding returned merchandise stating that all tags must be intact;the clothing must not have been worn;and it must be returned within seven days to receive credit.Which of the following best describes the retailer's actions? A) Add-on selling B) Getting the lead out C) Data mining D) RFM analysis E) Cutting off services

• Q66:

  Which of the following statements is TRUE of the customer pyramid? A) Customers in the iron segment need special attention from the retailer to grow their potential to be better customers. B) All customers regardless of their segment must receive equitable promotional benefits. C) Customers in the lead segment buy merchandise on sale or abuse return privileges. D) Customers in the gold segment are the most profitable and loyal customers. E) Customers in the platinum segment place little emphasis on customer service.

• Q67:

  Which of the following statements does NOT describe personalization implemented as a CRM program? A) It overcomes a limitation of CRM strategies which treat all customers in a platinum segment as identical. B) With the availability of customer-level data and analysis tools,retailers can now economically offer unique benefits and target messages to individual customers. C) The Internet channel provides an opportunity for retailers to automate personalization and efficiently develop relationships similar to those that many small local retailers have with customers. D) It helps retailers to convert their unprofitable customers in the lead segment in the customer pyramid to best customers. E) The effective use of customer information in personalization programs creates the positive feedback cycle in the CRM process.

• Q68:

  Which of the following statements is true of the gold segment members in the customer pyramid? A) Price plays a greater role in their decision making process. B) The gold segment members place more value on customer service. C) Their spending levels and profitability do not warrant special treatment. D) They demand a lot of attention but buy very little from retailers. E) This segment is composed of the customers with the top 25 percent CLVs.

• Q69:

  Depending on the amount of money you have in Wachovia bank,you will receive a variety of different services.The lower-tiered customers are charged $7 to use a teller but can receive the same services for free if they use an ATM.Charging low-tiered customers for using live tellers is Wachovia's approach to: A) getting the lead out. B) letting customers opt out. C) tailoring offers for these customers. D) soliciting feedback. E) offering better services.

• Q70:

  The release of the new Harry Potter book brought excitement in Enid's neighborhood.The local Book Universe store sold thousands of vouchers for the night of the release.The store invited Harry Potter enthusiasts to come for a party at the store that lasted until midnight when the book would be available for purchase.Book Universe is seen developing a customer retention program based on: A) a market basket analysis. B) creating a sense of community among its customers. C) 1-to-1 retailing programs. D) a tiered rewards program. E) the concept of add-on selling offers for preferred customers.

Are applications of statistical techniques and models that seek?

What do we call a set of activities designed to develop and manage customer loyalty and long term customer relationship?

What is a retailer's role in the supply chain quizlet?

Which is a group of customers who are bound together by their loyalty to a retailer and the activities in which the retailer engages?