CBA CBA Marketing & Customer Relations 2 — Questions and Answers
Question 1: What is the Net Promoter Score (NPS) used to measure?
- Website traffic from referral sources
- Customer loyalty and the likelihood of customers recommending a company to others (Correct answer)
- Social media follower growth rate
- Revenue generated per marketing campaign
Correct answer: Customer loyalty and the likelihood of customers recommending a company to others
NPS measures customer loyalty by asking customers how likely they are to recommend a company to others on a 0–10 scale.
Question 2: Which pricing strategy involves setting a high initial price for a new product and gradually lowering it over time?
- Penetration pricing
- Value-based pricing
- Price skimming (Correct answer)
- Cost-plus pricing
Correct answer: Price skimming
Price skimming sets a high initial price to capture maximum revenue from early adopters before lowering it to attract price-sensitive consumers.
Question 3: What is the main goal of a customer relationship management (CRM) system?
- To automate product manufacturing processes
- To manage and analyze customer interactions to improve business relationships and drive sales (Correct answer)
- To track employee performance metrics
- To handle payroll and benefits administration
Correct answer: To manage and analyze customer interactions to improve business relationships and drive sales
A CRM system helps businesses manage customer data, track interactions, and improve relationships to increase customer retention and sales.
Question 4: What is 'push marketing' in a distribution strategy?
- Using digital advertising to pull consumers toward a product
- Promoting a product directly to consumers through social media
- Pushing products through the distribution channel by offering incentives to intermediaries (Correct answer)
- Encouraging word-of-mouth referrals among customers
Correct answer: Pushing products through the distribution channel by offering incentives to intermediaries
Push marketing involves promoting products to wholesalers, retailers, or distributors who then push the product to end consumers.
Question 5: What does 'positioning' mean in a marketing strategy?
- Determining where to place physical store locations
- How a company wants its product to be perceived in the minds of target customers relative to competitors (Correct answer)
- Deciding which advertising channels to use
- Setting the geographic boundaries of a sales territory
Correct answer: How a company wants its product to be perceived in the minds of target customers relative to competitors
Positioning defines the unique space a brand or product occupies in the target customer's mind compared to competing offerings.
Question 6: Which customer service metric measures the average time it takes for a support team to resolve a customer's issue?
- First contact resolution rate
- Average handle time
- Mean time to resolution (MTTR) (Correct answer)
- Customer satisfaction score (CSAT)
Correct answer: Mean time to resolution (MTTR)
Mean time to resolution (MTTR) measures the average elapsed time from when a customer issue is reported until it is fully resolved.
CBA CBA Marketing & Customer Relations 2
What is the Net Promoter Score (NPS) used to measure?