Behavior-Based Customer Value Analysis
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Questions and Answers

What is employer branding primarily concerned with?

  • An organization's reputation as an employer and its value proposition to its employees (correct)
  • Defining a company's unique selling proposition
  • Building a strong brand image for customers
  • Developing a company's social media presence
  • What does a positive correlation between two variables indicate?

  • One variable is dependent on the other
  • The variables have no relationship
  • The variables move in opposite directions
  • The variables move in the same direction (correct)
  • What is the primary goal of positioning a brand?

  • To appeal to every customer
  • To make the product superior
  • To create a clever slogan
  • To find a unique position in the customer's mind (correct)
  • What is brand image?

    <p>The impression of a product held by customers</p> Signup and view all the answers

    What does prediction involve in the context of correlations?

    <p>Making predictions about one variable based on another</p> Signup and view all the answers

    What is brand awareness?

    <p>How easily a brand comes to a customer's mind</p> Signup and view all the answers

    What is the main goal of a behavior-based customer value approach?

    <p>To identify the importance of customer characteristics</p> Signup and view all the answers

    What is the difference between customer value and perceived value?

    <p>Customer value is the total value of a product, while perceived value is the customer's perceived worth of a product</p> Signup and view all the answers

    What is the RFM model used for?

    <p>To segment customers based on their recency, frequency, and monetary value</p> Signup and view all the answers

    What is the formula for calculating customer lifetime value?

    <p>CLV = Average purchase value * average purchase frequency * customer lifespan</p> Signup and view all the answers

    What is the main difference between a binary choice and a multinomial choice?

    <p>Binary choice is used for yes/no questions, while multinomial choice is used for multiple-choice questions</p> Signup and view all the answers

    How can a company generate 'value from customers'?

    <p>By understanding the customer's perceived value and creating value accordingly</p> Signup and view all the answers

    What is an example of unstructured data?

    <p>Natural language processing</p> Signup and view all the answers

    What is the primary objective of sustaining customer relationships?

    <p>To build trust and commitment</p> Signup and view all the answers

    What is the key concept in determining customer value?

    <p>Customer's willingness to pay</p> Signup and view all the answers

    What is an example of a structured data tool?

    <p>Microsoft Power BI</p> Signup and view all the answers

    What is the formula to determine customer value?

    <p>Value - Price &gt; Alternative</p> Signup and view all the answers

    What is the term for the hypothetical price at which a customer would be at overall economic break-even relative to the best alternative available?

    <p>Objective Customer Value</p> Signup and view all the answers

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