Customer Lifecycle and Acquisition

What is the term used to describe the stages a customer goes through when interacting with a company?

• Customer Journey

• Customer Lifecycle

• Customer Engagement

• Customer Experience

Which of the following is a strategy for recruiting new customers?

• Limiting advertising

• Customer referrals

• Increasing product quality

• Reducing product prices

What type of customer is defined as new to the product category?

• New-to-brand

• New-to-category

• New-to-market

• New-to-company

What is a key performance indicator for customer acquisition?

• Cost per acquired customer

• Customer satisfaction rate

• Employee turnover rate

• Market share growth

In a B2B context, what is the first step in the prospecting process?

• Following up with customers

• Generating leads

• Closing sales

• Qualifying leads

What does strategic switching refer to?

• Changing suppliers for better deals

• Switching from one product to another

• Changing marketing strategies

• Switching customer segments

Which of the following is NOT a method of customer acquisition in B2C?

• Social media

• Advertising

• Sales promotion

• Direct mail

What is the ideal outcome for a customer acquisition program?

• Low-cost program with no valuable customers

• High-cost program generating many customers

• Low-cost program generating valuable customers

• High-cost program with few customers

What is a new-to-company customer?

• A customer who has never purchased before

• A customer who has switched brands

• A customer acquired from a competitor

• A customer who is new to the product category

Which question is NOT part of Hofmeyr's model for measuring customer commitment?

• How different is the other option?

• What is the price of the product?

• Is this relationship something that you care about?

• How happy are you with the product?