Creating Customer Value, Satisfaction & Loyalty - MCQs with answers - Part 1

Creating Customer Value, Satisfaction & Loyalty - MCQs with answers - Part 1

Customer Value

1. Customer-centered companies are skilled in

a) Market engineering
b) Product engineering
c) Both a & b
d) None of the above

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2. ‘The only value you will ever create is the value that comes from customers, the ones you have now and the ones you will have in the future,’ is said by

a) Philip Kotler
b) Abraham Koshy
c) Don Peppers and Martha Rogers
d) None of the above.

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3. In the modern customer-organization chart, the entity at the top are _________

a) Customers
b) Top management
c) Frontline people
d) None of the above

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4. _____________ is the gap between the prospective customer’s assessment of all the advantages and all the costs of an offering and the perceived options.

a) Customer-perceived value
b) Total customer benefit
c) Total customer cost
d) None of the above

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5. ____________ is the apparent monetary value of the bundle of functional, psychological and economic advantages consumers expect from a given market offering because of the products, services, personnel and image involved.

a) Customer-perceived value
b) Total customer cost
c) Total customer benefit
d) None of the above

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6. ____________ is the perceived package of costs customers anticipate to incur in assessing, obtaining, utilizing and disposing of the given market offering, including time, monetary, energy and psychological costs.

a) Customer-perceived value
b) Total customer cost
c) Total customer benefit
d) None of the above

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7. A customer adds up all the functional, psychological and economic benefits from ________sources.

a) Products, services, personnel and image
b) Products and services
c) Products and personnel
d) Only personnel

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8. Total customer cost is made up of

a) Monetary cost and time cost
b) Energy cost and psychological cost
c) Both a and b
d) None of the above

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9. Managers conduct a _________ to know the company’s weakness and strengths relative to those of various peers.

a) Product value analysis
b) Service value analysis
c) Customer value analysis
d) None of the above

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10. The seller must evaluate__________ related with each peer company’s offer in order to know how their offer rates in the buyer’s mind.

a) Total customer benefit
b) Total customer cost
c) Both a & B
d) None of the above

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