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An acquisition/defection matri...View Answer
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A) Measures of overall loyalty
B) Measures of yield rate
C) Capture rate ratios
D) All of the above
E) Only A and B
G) B) and D)
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Size of wallet is the total amount of bu...View Answer
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A) Average defection rate
B) Average lifetime value
C) Survival rate
D) Yield rate
E) All are useful measures of retention efforts
G) B) and D)
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A) Which type of customer is entering and leaving
B) Which VAN members are short vs. long term
C) Who a company is losing their customers to and gaining them from
D) The relationship between satisfaction scores and retention
E) None of the above
G) A) and B)
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Acquisition rate, yield rate, ...View Answer
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A) It can't be determined since the initial 100,000 have not been segmented into cohorts.
B) 40%
C) 1 × .9 × .6 = 54%
D) 60%
E) None of the above
G) B) and D)
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To focus its resources on high-value cus...View Answer
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Never equate the two. He reports that: "...View Answer
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A) Using behavioral proxies for psychological variables
B) Measuring retention
C) Monitoring the number of customer complaints
D) All of the above
E) All of the above except C and D
G) C) and D)
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Average retention ra...View Answer
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Measures of downward migration, days sin...View Answer
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CLV is a measure of the future financial value of the customer's purchases with an organization. It takes into account the following aspects:
How much the customer spends on each purchase with the firm and the resulting profit How often the customer purchases from the firm
How likely the customer is to remain a customer in the future
How much it costs to serve the customer
The organization's discount rate for calculating the net present value of the future purchases
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Tangibles: Physical facilities, equipment, and appearance of personnel Reliability: Ability to perform the promised service dependably and accurately Responsiveness: Willingness to help customers and provide prompt service Assurance: Knowledge and courtesy of employees and their ability to inspire trust and confidence Empathy: Caring, individualized attention the firm provides its customers
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1. To measure changes in an organization...View Answer
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A) Given today's scientific measures, it is quite easy
B) This is the one area of CRM that all companies consistently dp
C) There are 5 key effectives measure everyone agrees on
D) It is much easier for small companies than for large companies
E) All the above are false.
G) B) and E)
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Size of wallet, shar...View Answer
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Second customer lifetime value refers to the CLV for customers who defect but are won back. It is important because it costs far less to win customers back than to attract those who have never been a customer in the first place. Of course it is important to factor in the costs of winning back lost customers.
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