Handling complaints in any manner as long as they are handled is important to building successful long-term relationships.
Indicate whether the statement is true or false
Question 2____ refers to the average dollar amount per sale multiplied by the average number of times customers reorder.
A) Lifetime value of a customer
B) Customer acquisition cost
C) Lifetime profit of a customer
D) Lifetime cost of a customer
E) Customer retention cost
Question 3An employee evaluation and compensation system is which type of control?
A) Cultural control
B) Output control
C) Social control
D) Input control
E) Process control
Question 4Salespeople should encourage critical encounters with their customers to encourage effective dialogue.
Indicate whether the statement is true or false
Question 5All of the following statements related to customer retention are true except:
A) One of the key benefits of customer retention is repeat sales.
B) Existing customers are willing to pay more for a firm's services.
C) It costs 3 to 5 times more to keep a customer than to get a new one.
D) Long-term customers tend to have lower maintenance costs.
E) Customer retention often leads to positive referrals.
Question 6Which of the following best describes a price consideration in an internal marketing program?
A) Increased efforts and changes by employees
B) Higher costs of internally produced products
C) Resources used to secure consumer buy-in
D) Profit lost as the result of the program
E) Overall cost of the marketing program
Question 7Customer training does not require the assistance of a company trainer or engineer if the product is technical.
Indicate whether the statement is true or false
Question 8Studies have indicated that as much as ____ percent of profits come from long-term customers via profits derived from sales, referrals, and reduced operating costs.
A) 95
B) 75
C) 50
D) 35
E) 25
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