MGMA01H3 Chapter 6: Chapter 6

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silverspider433

15 Apr 2011

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Here are some answers: customers do not care about your system. They care about satisfaction; having problems handled: customers do not care how you track his order. They don"t care about how you execute, but that it gets done. Lifetime-customer value (lcv: total customer satisfaction leads to customer loyalty and a focus on existing customer loyalty can generate spectacular gains. The value of customers: a totally satisfied customers contributes 2. 6 times as much revenue to a company as a. Somewhat satisfied customer: a totally satisfied customer contributes 14 times as much revenue as a somewhat. Dissatisfied customer: a totally dissatisfied customer actually decreases revenue at a rate equal to 1. 8 times what a. example: an average driver buys ten cars in lifetime. You sell a young woman her first car for profit of , your lcv of that customer is potentially. Assume the loyal customer will recommend your business to 5 others.

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12) Perfectly competitive markets exist when a) b) there is no particular advantage to being a large supplier capital investment allows one supplier to satisfy much of the market customers demand national brands the government eliminates incentives for private profits d)

Which of the following is the best example of a well-stated strategic objective?

A)Increase revenues by more than the industry average.

B)Be among the top 5 five companies in the industry on customer service.

C)Overtake key competitors on product quality within three years.

D)Improve manufacturing performance by 5% within 12 months.

E)Obtain 150 new customers during the current fiscal year.

olivesquirrel267

11) Which of the following is a reason why an industry might have become an oligopoly: a) b) a highly educated labour force is necessary for firms to gain competitive advantage there are barriers to entry, such as large amount of capital needed the supply of natural resources is plentiful, and they are inexpensive to obtain customers seek products with national distribution

MGMA01H3 Chapter 6: Chapter 6

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