Show:
Customer Acquisition
Funnel
Customer Satisfaction
Maintaining Relationships with customers
Customer Complaints
Customer Lifetime Value
100

How many steps are in the acquisition funnel?

There are 5 steps

100

___________ is a person's feelings of pleasure or disappointment resulting from comparing the perceived performance of a product or service with expectations.

Satisfaction

100

Making customers feel special through promotional incentives is called _____

Building loyalty programs

100

How many ways are there in dealing with customer complaints?

There are 5 ways of dealing with customer complaints.

100

How do you calculate Customer Lifetime Value?

To measure CLV, companies need to keep track of all costs incurred to serve each customer

200

Name 2 pros or cons of the acquisition funnel

Pros:

  • Clear analysis on buyer
  • Optimized Resource Allocations
  • Measurable Progress

Cons:

  • Static Nature 
  • Not universally applicable
  • Linear representation



200

What are the things that Customer opinions about a product depend on 

  • Customer's loyalty 
  • Past experiences
  • Performance
  • Expectations
200

What are the three ways a business keeps customer relationships?

- Interacting with customers

- Building loyalty programs 

- Building brand communities


200

What happens if a company takes too long to respond to a customer complaint?

The slower the company is to respond, the more dissatisfaction may grow which leads to negative word of mouth and decreases brand loyalty.

200

In the Amazon example, did the customer increase or decrease the CLV after they bought the controller and the headset?

CLV grows as the customer adds more value to the company without Amazon spending much more money

300

Name all of the steps in the customer acquisition funnel 

Awareness

Appeal

Ask

Act

Advocate


300

Customer expectations are shaped by (4 things)

  • past buying experiences,
  • advice from friends and associates,
  • public information, 
  • information from marketers and competitors
300

A business builds brand communities by sharing… (3 things)

  • First - share a sense of connection to the brand

  • Second - share rituals, stories, and traditions 

  • Third - share a moral responsibility

300

What makes Amazon's returns so easy?

The customer does not need to answer a multitude of questions and with a press of a button, they can process the return.

300

What percentage of customers usually make up most of a company's profit?

80% of most companies profits come from the top 20% of their customers