IMANET IMANET Certifications IMANET-CMA Questions & Answers

• Question 1151:

  Which level of relationship marketing entails continuous assistance to big customers?

  A. Reactive marketing.

  B. Proactive marketing.

  C. Accountable marketing.

  D. Partnership marketing.

  Correct Answer: D

  A firm must determine the appropriate investment in building customer relationships. The levels of investment depend on unit profit margins and the numbers of customers. According to Kilter, partnership marketing entails continuous assistance to big customers. This level of investment is appropriate when margins are high and customers are few.

• Question 1152:

  The likelihood that customer loyally is not based on any appraisal of the brand's value is

  A. Relationship equity.

  B. Value equity

  C. Customer equity.

  D. Brand equity.

  Correct Answer: A

  Relationship equity is one of the drivers of customer equity. It is the likelihood that customer loyalty is not based on any appraisal of the brand's value. Sub drivers are programs to build customer loyally, recognition, community, and knowledge. Relationship equity is most significant when the supplier-customer relationship 5 vital or when a customer may simply be habit-bound.

• Question 1153:

  Which of the following is not a reason firms should emphasize customer retention?

  A. Increasing the retention rate increases profits exponentially.

  B. Customer retention is far less costly than customer attraction.

  C. The longer the customer relationship, the more profitable it is.

  D. Long-time customers of firms are more costly than new customers.

  Correct Answer: D

  The firm should emphasize customer retention because the customer base is an important intangible asset. Among the reasons for greater retention are that loss of some customers is unavoidable, customer retention is far less costly than customer attraction, increasing the retention rate increases profits exponentially, and the longer the customer relationship, the more profitable it is.

• Question 1154:

  Which core business process seeks to increase the value of the customer base by such methods as customer service?

  A. Customer acquisition.

  B. Customer relationship management.

  C. Fulfillment management.

  D. Market sensing.

  Correct Answer: B

  Customer relationship management seeks to increase the value of the customer base by developing longterm relationships with individual customers by such methods as customer service, customized (if not personalized) offerings, and choice of marketing messages and media.

• Question 1155:

  The value creation chain

  A. Consists of activities of a firm that incur costs.

  B. Excludes support activities.

  C. Treats infrastructure activities as primary.

  D. Includes such outbound logistics activities as human resources.

  Correct Answer: A

  The value creation chain consists of the activities of a firm that create customer value and incur costs. The following are the primary activities and the four support activities in Michael E. Porter's model: (1) inbound logistics activities involve the firm's capture of materials to be processed; (2) operations activities are conversion 1processes; (3) outbound logistics activities include shipment of products; (4) marketing and sales activities are the promotion and sale of final products; (5) service activities provide customer service; and (6)the four support activities are infrastructure (e.g., administration, finance, and planning), procurement, human resources, and technology.

• Question 1156:

  Which of the following do not gather customer satisfaction information?

  A. Employee surveys.

  B. Customer surveys.

  C. Complaint and suggestion systems.

  D. Exit interviews.

  Correct Answer: A

  Customer satisfaction is the relation between the offering's perceived performance and the customer's expectations. High customer satisfaction tends to create high customer loyalty that results in repurchases. Customer satisfaction information is gathered by: (1) complaint and suggestion systems such as websites and hotlines; (2) customer surveys; (3) lost customer analysis (e.g., exit interviews and determination of the customer loss rate); and (4) testing of the treatment customers receive when purchasing the firm's (or competitors') products (ghost shopping).

• Question 1157:

  The customer value triad includes A. Loyalty.

  B. Cost.

  C. Quantity.

  D. Serco.

  Correct Answer: D

  Value is an aggregate of the elements of the customer value triad: quality, service, and price. It increases as quality and service increase and price decreases.

• Question 1158:

  In a market research application, which form of contact is the most costly and administratively complex but also the most versatile?

  A. Mail questionnaire.

  B. Online contacts.

  C. Telephone contact.

  D. Personal interviewing.

  Correct Answer: D

  Contacts may be via arranged interview, intercept interview (e.g., requesting an interview from a person on the street), telephone, the postal service, or online. Personal interviewing is the most versatile method. It provides opportunity for additional questions and observational advantages (such as viewing of body language and attire). However, it is costly and administratively complex.

• Question 1159:

  A sampling plan must determine the

  I. Size of the sample.

  II. Stratification method used. Ill. Random sampling method.

  IV.

  Sampling unit.

  A.

  II, Ill, and IV only.

  B.

  I and IV only.

  C.

  I, II, and Ill only.

  D.

  I and Ill only.

  Correct Answer: B

  The sampling plan is based on determination of the sampling unit (such as choice of lips of people to be interviewed), the size of the sample needed to achieve reliable results at reasonable cost, and the sampling method (e.g., simple random sampling, stratified sampling, or judgment sampling).

• Question 1160:

  Which type of question asks for personalized responses and is most useful when researchers are exploring thought processes?

  A. Multiple-choice.

  B. Yes/No.

  C. Rating-scale.

  D. Rating-scale.

  Correct Answer: D

  Closed-end questions yield results that are relatively simple to analyze because the range of answers is finite. Examples are yes/no, multiple-choice, agree/disagree on a given scale, intention-to-buy scale. semantic differential scale (big to little, competent to incompetent, etc.), importance scale, or rating scale. Open-end questions ask for personalized responses and are most useful when researchers are exploring thought processes. Examples are picture interpretation, word association, sentence or story completion, and thematic apperception jesting (creating a story about a ghen picture). -