Business and Marketing Quiz

Business and Marketing Quiz

11th Grade

20 Qs

quiz-placeholder

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Business and Marketing Quiz

Business and Marketing Quiz

Assessment

Quiz

Life Skills

11th Grade

Practice Problem

Hard

Created by

Jesalyn Bautista

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bapang Romy’s junkshop is located far from the town proper, causing potential customers to choose closer competitors. With this in mind, which of the following could be a significant external factor that might negatively affect his business?

His plan to expand to Sta. Ana

His junkshop's cleanliness and orderliness

Limited employees affecting customer service

The location of his junkshop far from the town proper

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Imagine you are managing a business and want to calculate the Customer Lifetime Value (CLV) to make informed decisions about marketing and customer retention strategies. How would you design a plan to utilize CLV data for balancing your investments in acquiring new customers versus retaining existing ones?

Focus primarily on acquiring new customers by offering large discounts.

Invest equally in customer acquisition and retention without considering CLV data.

Increase the price of products to enhance overall revenue without considering the CLV.

Use CLV data to identify the most profitable customers and focus on creating loyalty programs for retention.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After observing a company's efforts to build strong customer connections through personalized services and loyalty programs, which of the following would NOT be a likely outcome of such a strategy?

Generate new customers

Higher sales

Lower sales

Repeat customers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for businesses to focus on customer service when implementing relationship marketing?

To increase product prices

To reduce the need for advertisements

To improve customer loyalty and retention

To limit the number of customer interactions

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The athlete visits the spa three times a month and spends P3,000 per visit for a period of six years. How would you apply the CLV formula to calculate the new CLV?

Add the total spend per visit to the retention time in years.

Multiply the average spend per visit by the number of visits per month and the retention time in years.

Divide the total spend per visit by the number of months in a year and the retention time in years.

Multiply the average spend per visit by the number of visits per year and the retention time in years.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you were to open a new fast food restaurant, which customer service practice would be most important to offer to increase convenience for customers?

Drive-through

Free parking

Free appliance installation

Free alteration on garments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a utility company offers 24-hour customer hotline service, what is the likely purpose behind this practice?

To save the company money on operating hours

To reduce the number of calls received from customers

To encourage customers to visit the utility office in person

To ensure that customers can get help any time, enhancing customer satisfaction

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