Podcast
Questions and Answers
Which of the following are considered forms of Customer Evaluation?
Which of the following are considered forms of Customer Evaluation?
What are the steps in the hierarchy of Customer Behavior? (Select all that apply)
What are the steps in the hierarchy of Customer Behavior? (Select all that apply)
How do consumers primarily evaluate products?
How do consumers primarily evaluate products?
Consumers evaluate products based on their expectations of the product.
Which of the following are considered sources of expectations in evaluating products?
Which of the following are considered sources of expectations in evaluating products?
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Identify the types of purchases within the customer evaluation framework.
Identify the types of purchases within the customer evaluation framework.
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Customer evaluations can be influenced by factors such as Experience and Expectations.
Customer evaluations can be influenced by factors such as Experience and Expectations.
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What is typically used to measure quality and customer satisfaction?
What is typically used to measure quality and customer satisfaction?
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What is Customer Relationship Management (CRM)?
What is Customer Relationship Management (CRM)?
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What is the purpose of a Loyalty Program?
What is the purpose of a Loyalty Program?
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What are some key elements that contribute to a strong Customer Relationship?
What are some key elements that contribute to a strong Customer Relationship?
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Study Notes
Customer Relationship Management (CRM)
- Companies interact with existing customers through various methods
- Key components include satisfaction, support service, quality, marketing, and research
- Customer evaluations are crucial for understanding customer satisfaction and quality, encompassing different types
- Customer loyalty is a vital aspect of customer relationships
Forms of Customer Evaluation
- Customer Satisfaction: Assessing customer contentment with products or services
- Perceptions of Quality: Evaluating the perceived quality of products or services
- Customer Repurchase Intentions: Determining likelihood of repeat purchases from the same brand or provider
- Word of Mouth: The favorable reviews shared with friends, family and colleagues
Hierarchy of Customer Behavior
- Awareness: Initial knowledge of a product or service
- Trial: Experimentation with the product or service
- Repeat: Recurring purchases after trial
- Loyalty: Consistent preference and commitment to a brand
How Consumers Evaluate Products
- Consumers assess products based on expectations compared to the actual experience
- Sources of expectations include personal experiences, recommendations from friends/experts, and company marketing messages
Types of Customer Purchases
- Low involvement purchases: Routine, less important
- High involvement purchases: Significant decision-making
- Credence purchases: Involving products of which customers have difficulty judging quality
- Experiential purchases: Purchases based on the overall experience
Measuring Quality and Customer Satisfaction
- Surveys are effective tools for gathering customer perceptions of quality and satisfaction.
Loyalty and Customer Relationship Management (CRM)
- A loyalty program encourages repeat customers by providing exclusive benefits
- CRM systems track customer spending and segment customers, leading to targeted strategies, and identifying and maintaining customer contact information.
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Description
This quiz covers essential concepts of Customer Relationship Management (CRM), focusing on customer evaluations and satisfaction. Key components like quality perceptions, customer loyalty, and behavior hierarchy are explored in detail. Test your understanding of how CRM strategies impact customer interactions and repeat purchases.
