SI CHEN EXAM 2 MBA 706
COMPREHENSIVE QUESTIONS AND
SOLUTIONS
◉ Awareness Phase
Answer: The initial stage where target customers first encounter
the company's offering through marketing, point of sale, or
advocacy.
◉ Appeal Phase
Answer: This phase reflects customers shortlisting the most
appealing offerings from their initial awareness to form a
consideration set.
◉ Ask Phase
Answer: During this stage, customers actively seek additional
information about the offerings in their consideration set from
various sources.
◉ Act Phase
Answer: This marks the transition to action, which includes
purchase, consumption, and the post-consumption experience.
,◉ Advocate Phase
Answer: This phase describes customers' reactions after
consumption, ideally leading to loyalty, repurchasing, and even
recommending the offering to others.
◉ Customer Conversion Rate
Answer: The percentage of customers at one stage of the
acquisition funnel who move to the next stage.
◉ Customer Retention Rate
Answer: A measure of how many existing customers a company
keeps over a period of time.
◉ Customer Satisfaction
Answer: A person's feelings of pleasure or disappointment
resulting from comparing a product or service's perceived
performance with their expectations.
◉ High-Quality Company
Answer: A company that satisfies most of its customers' needs
most of the time.
◉ Performance (of a company)
Answer: The overall functionality of a company's products and
services.
, ◉ Consistency (of a company)
Answer: The degree to which a company's performance remains
at the same level over time.
◉ Customer Loyalty
Answer: A state where customers have positive reactions
following their consumption experience, ranging from
repurchasing to advocating for the company.
◉ Customer Defection (Customer Churn)
Answer: The phenomenon of customers leaving a company.
◉ Loyalty Programs
Answer: Promotional incentives designed to encourage customers
to continue patronizing a business and increase their purchase
frequency and quantity.
◉ Brand Community
Answer: A specialized community of consumers and employees
whose identification and activities revolve around a brand,
characterized by shared connection, rituals, and moral
responsibility.
◉ Customer Relationship Management (CRM)
COMPREHENSIVE QUESTIONS AND
SOLUTIONS
◉ Awareness Phase
Answer: The initial stage where target customers first encounter
the company's offering through marketing, point of sale, or
advocacy.
◉ Appeal Phase
Answer: This phase reflects customers shortlisting the most
appealing offerings from their initial awareness to form a
consideration set.
◉ Ask Phase
Answer: During this stage, customers actively seek additional
information about the offerings in their consideration set from
various sources.
◉ Act Phase
Answer: This marks the transition to action, which includes
purchase, consumption, and the post-consumption experience.
,◉ Advocate Phase
Answer: This phase describes customers' reactions after
consumption, ideally leading to loyalty, repurchasing, and even
recommending the offering to others.
◉ Customer Conversion Rate
Answer: The percentage of customers at one stage of the
acquisition funnel who move to the next stage.
◉ Customer Retention Rate
Answer: A measure of how many existing customers a company
keeps over a period of time.
◉ Customer Satisfaction
Answer: A person's feelings of pleasure or disappointment
resulting from comparing a product or service's perceived
performance with their expectations.
◉ High-Quality Company
Answer: A company that satisfies most of its customers' needs
most of the time.
◉ Performance (of a company)
Answer: The overall functionality of a company's products and
services.
, ◉ Consistency (of a company)
Answer: The degree to which a company's performance remains
at the same level over time.
◉ Customer Loyalty
Answer: A state where customers have positive reactions
following their consumption experience, ranging from
repurchasing to advocating for the company.
◉ Customer Defection (Customer Churn)
Answer: The phenomenon of customers leaving a company.
◉ Loyalty Programs
Answer: Promotional incentives designed to encourage customers
to continue patronizing a business and increase their purchase
frequency and quantity.
◉ Brand Community
Answer: A specialized community of consumers and employees
whose identification and activities revolve around a brand,
characterized by shared connection, rituals, and moral
responsibility.
◉ Customer Relationship Management (CRM)
