How to Build Customer Relationships: Crash Course Entrepreneurship

How to Build Customer Relationships: Crash Course Entrepreneurship

Assessment

Interactive Video

Business

11th Grade - University

Medium

Created by

Wayground Content

Used 4+ times

FREE Resource

The video discusses the importance of nurturing customer relationships for business success. It explores various types of relationships, from transactional to long-term, and how businesses can choose the right strategy. Examples include loyalty programs and community building. The video also highlights the need for businesses to adapt their strategies based on customer feedback and evolving needs.

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why are customer relationships crucial for a successful business?

They help in reducing product costs.

They ensure customer expectations are met.

They allow businesses to avoid legal issues.

They help in increasing employee satisfaction.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a transactional relationship in business?

A relationship where interaction occurs only during purchase.

A relationship with no direct contact between business and customer.

A relationship that involves co-creation of products.

A relationship where customers and businesses interact frequently.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a self-service relationship?

A dedicated account manager for each client.

A loyalty program offering discounts.

A personal assistant helping customers in-store.

A self-pump gas station.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do loyalty programs benefit businesses?

They increase the cost of switching for customers.

They reduce the need for customer feedback.

They allow businesses to avoid customer complaints.

They eliminate the need for marketing.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What characterizes a long-term customer relationship?

Automated services with no human contact.

Regular interactions with emotional connections.

Frequent but impersonal interactions.

One-time transactions with high value.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a co-creation relationship, what role do customers play?

They help develop new products with the company.

They provide feedback on existing products.

They act as brand ambassadors.

They manage customer service inquiries.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can businesses benefit from building communities?

By gaining insights into customer needs and feedback.

By reducing the need for customer service staff.

By eliminating the need for marketing strategies.

By increasing product prices without losing customers.

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