Chapter 5. Creating Long-term Loyaly Relationships

Question 1: Value for customers is:

A. The value the customer receives from the seller.

B. The value that customers receive from consuming the product.

C. The difference between the total value received by the customer from the product/service or/and the seller and the total cost of the customer.

D. All is not true.

• A

• B

• C

• D

Question 2: Customer loyalty is:

A. Trust in the product, buy when there is a need.

B. Willing to recommend to others.

C. Ignore or accept temporary product/service declines.

D. Willingness to choose the manufacturer's products and brands before the temptations of competitors.

• A

• B

• C

• D

Question 3: Satisfaction is a person's feeling level derived from work to compare the results obtained from a job's consumption of a ..... with their own expectations:

A. Products/services.

B. Demand.

C. Desire.

D. All three ideas above.

• A

• B

• C

• D

Question 4: Which of the following statements is false about loyalty programs?

A. Customers are not allowed to accumulate points to exchange gifts, refunds, accumulate points for purchases, re-evaluate...

B. Allow customers to accumulate points to exchange gifts, refunds, accumulate points for purchases, re-evaluate...

C. Both of the above statements are correct.

D. Both of the above statements are incorrect.

• A

• B

• C

• D

Question 5: How to calculate Customer Lifetime Value

A. CLV = Customer Value * Average Customer Lifetime.

B. CLV = Average Purchase Value * Average Purchase Frequency Rate.

C. CLV = Number of Purchases / Number of Purchases by Customers.

D. CLV = Customer Value / Average Customer Lifetime.

• A

• B

• C

• D

Question 6: AOV formula.

A. AOV = Sales / Order Quantity.

B. AOV = Revenue * number of orders.

C. AOV = Revenue + Number of Customers.

D. AOV = Revenue - number of customers.

• A

• B

• C

• D

Question 7: CLV = 18,000,000 VND (average sale) x 100 (annual visits) x 7 (years) =

A. 12,400,000,000 VND

B. 12,700,000,000 VND

C. 12,600,000,000 VND

D. 12,500,000,000 VND

• A

• B

• C

• D

Question 8: Choose the correct sentence:

A. Customer relationships are activities that are not between a buyer and a seller to create and maintain connections with each other.

B. Customer relationship is the activities between a buyer and a buyer to create and maintain a connection with each other.

C. Customer relationships are the activities between non-buyers and non-sellers to create and maintain connections with each other.

D. Customer relationship is the activities between buyer and seller to create and maintain connection with each other.

• A

• B

• C

• D

Question 9: What is the loyalty program?

A. Fundraising program to support the poor.

B. Dream relay program.

C. Subscription-based loyalty program.

D. All of the above.

• A

• B

• C

• D

Question 10: Which of the following is true about subscription-based loyalty:

A. Loyalty customers do not need to register.

B. Requires customers to pay a monthly or annual fee in advance to join.

C. Customers who do not need to buy will become loyal customers.

D. No upfront monthly or yearly fees are required to participate.

• A

• B

• C

• D