MAR 3407- Final Exam UCF Questions and Answers Solved 100%

All successful salespeople are excellent networkers. - False Always have an "ask" in mind when you're networking. - False Capturing customer data is critical to customer retention. The RFM model is commonly used in the business world when considering essential customer data. What does RFM stand for? - Recency, Frequency, and Monetary Value Customer Lifetime Value allows you to know _____. how much you can spend to keep a customer what a customer is worth over time how much you can spend to get a customer - all of the above Even if you hate networking events, you should go to one a month. - False How do people typically interact with the content in your advertisements or on your landing pages? - People don't read everything, they scan the information. So less is more. If you are asking for a referral or other favor, it is a good idea to exchange that favor for a cup of coffee or other treat. - False If you're just getting started in sales, you're at a real disadvantage versus your more experienced counterparts. - FalseIt's a good idea to arrive hungry at a networking event. That way, if you have no one to talk to, you can hang out at the buffet table and look busy. - False It's often the case that customers who leave you will eventually come back on their own. - False Joining a formal networking group like BNI or Le Tip can be a great way to build your network. - True One of the benefits of internal automation of customer data is that you can be alerted to a change in customer behavior and take necessary action. - True One of the ways to calculate Customer Lifetime Value is to take the total profit of a client over the client's lifetime of buying from you, and then subtract Sales, Marketing, and _____. - Service Delivery Online data is captured through the use of _____ and _____. - cookies; pixels Online marketing is meant to be an _____ process. - iterative Targeted networking is more important than general networking. - False The more consistent you are in following up and maintaining relationships with your customers, the more likely they are to do business with you again. - True The more you send marketing and communications to your customer base, the more your customers will continue to buy from you. - False The Pick-3 Process involves engaging in three simple tasks related to customer retention each day. What is an example of the Pick-3 Process? Reach out to three lost clients.Send three unexpected gifts to your top clients. Send three handwritten notes. - all of the above To bring back a lost customer, what is one of the most valuable pieces of information you should know? - why the customer left in the first place To retain customers, you should avoid using automated efforts at all costs. - False