IBM Exam 3 2024

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The metric that measures the ability of the order system to react to customer orders is the A. perfect order rate. B. order cycle time. C. on-time delivery. D. item fill rate. E. accuracy rat ... e - Answer B. order cycle time. When a business allows employees to make decisions about how service is provided to customers it is practicing A. quality control. B. employee equity. C. standardization. D. empowerment. E. relationship management. - Answer D. empowerment. According to your text, empowerment programs have the benefit of A. fostering employee satisfaction. B. reducing delivery delays. C. increasing brand recognition. D. increasing production efficiency. E. eliminating customer service departments. - Answer A. fostering employee satisfaction. A firm that uses CRM data to generate coupons for customers based on their past purchases is using the CRM data to A. reduce cognitive dissonance. B. reduce order cycle time. C. understand how customers interact. D. build customer equity. E. tailor customer promotions. - Answer E. tailor customer promotions. The measure of the quantity of purchase dollars each customer spends on the company's products is referred to as share of A. market. B. customer. C. purse D. equity. E. product. - Answer B. customer. A firm that uses data to compare the costs of retaining customers and the costs of acquiring new customers with the goal of determining how much money each type of customer requires is using A. lifetime value analysis. B. customer segmentation analysis. C. predictive modeling. D. demographic value analysis. E. recency-frequency-monetary analysis. - Answer A. lifetime value analysis. A business has a large customer base each with specific needs. In order to improve customer satisfaction and loyalty, the best approach to use to interact with its customers is a A. one-size fits all marketing approach. B. universal marketing approach. C. direct marketing approach. D. generalized marketing approach. E. wide-ranging marketing approach. - Answer C. direct marketing approach. Marketing ROI is a measurement that is used to determine the effectiveness of A. personal selling. B. manufacturing procedures. C. social media tools. D. marketing expenditures. E. distribution techniques. - Answer D. marketing expenditures. Which of the following is a measure that reflects a firm's sales as a percentage of total market sales? A. market share analysis B. revenue analysis C. profitability analysis D. marketing ROI E. gross margin - Answer A. market share analysis According to your text, the two most common elements of the promotional mix that firms measure during a marketing audit are A. advertising and personal selling. B. advertising and sales promotion. C. personal selling and public relations. D. public relations and advertising. [Show More]

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