What does the letter “I” stand for in the LIFE acronym?

MKT 121 – Customer Service Unit 2 Examination

April 10, 2017

Subject: Business    / General Business
MKT 121 Customer Service Unit 2 Examination

13. What does the letter “I” stand for in the LIFE acronym?
a. Interaction (with customers)
b. Inconsistency
c. Interview (to gather good information from customers)
d. Insight (into customer turnoffs and changing trends)

14. Value can be defined as:
a. quality relative to price paid.
b. how well a product holds together.
c. what you believe a product is worth.
d. All of the above.
15. Communication turnoffs often occur when employees are ignorant of the:
a. store’s policies.
b. customer’s needs.
c. messages they are sending.
d. company’s mission statement.
16. What percentage of its customers will a company lose per year due to turnoffs?
a. 4–15%
b. 40–60%
c. 10–30%
d. 20–50%
17. Customer satisfaction simply means:
a. lack of motivation.
b. nowhere else to go.
c. long-term buying commitment.
d. absence of dissatisfaction.
18. The simplest way to get information about potential customer turnoffs is:
a. a customer response card at the point of sale.
b. telephone surveys within 48 hours of the transaction.
c. follow-up surveys in the mail.
d. simply listen.
19. According to consultant David Freemantle, what is at the center of excellent customer service? 67 a. good listening
b. emotional connectivity
c. customer engagement
d. All of the above.

MKT 121 Customer Service Unit 2 Examination

20. The future of customer service is likely to focus on:
a. increased personalization and awareness of changing demographics.
b. increased mechanization.
c. decreased individualization.
d. None of the above.
21. Point-of-sale electronic data-gathering devices allow:
a. tracking of individual preferences.
b. customizing services and products to meet customer needs.
c. neither A nor B
d. both A and B
22. What is an example of customized messages?
a. indvidualized marketing
b. mass marketing
c. a and b
d. None of the above.
23. Some call share of the customer:
a. portion of the market
b. share of the wallet
c. portion of spending
d. None of the above.
24. Today’s workforce has:
a. more two-income families.
b. more single parents.
c. higher education.
d. All of the above.
25. Females are estimated to account for what percentage of buying decisions?
a. 15%
b. 38%
c. 69%
d. 85% 68



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