Customer relationship groups ( butterflies, barnacles, true friends, and strangers) , and customer equity in marketing
Quiz by Sarah Ayyad
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10 questions
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- Q1Which customer relationship group is characterized by customers who are high in profitability but low in loyalty?ButterfliesBarnaclesTrue FriendsStrangers30s
- Q2What term describes customers who are both high in loyalty and high in profitability in customer relationship management?ButterfliesStrangersBarnaclesTrue Friends30s
- Q3Which customer group in the customer relationship model is least likely to contribute to revenue?BarnaclesStrangersButterfliesTrue Friends30s
- Q4What is the primary goal of managing customer equity in marketing?Maximizing the value of customers over timeMinimizing marketing costsIncreasing product pricesFocusing solely on new customers30s
- Q5In customer relationship management, which group is characterized by customers who are fleeting and have the potential for high profitability?StrangersTrue FriendsBarnaclesButterflies30s
- Q6Which customer relationship group consists of customers who have low profitability and low loyalty?ButterfliesTrue FriendsBarnaclesStrangers30s
- Q7What is a key characteristic of 'True Friends' in customer relationship management?They are both loyal and highly profitable customersThey are rarely engaged with the brandThey only make occasional purchasesThey have low spending habits30s
- Q8What is the significance of customer equity in marketing strategies?It emphasizes price reduction strategiesIt helps businesses determine the overall value of their customer baseIt minimizes the role of customer feedbackIt focuses on short-term sales only30s
- Q9Which customer group typically requires more investment in retention efforts despite having low profitability?ButterfliesStrangersTrue FriendsBarnacles30s
- Q10In customer relationship marketing, which group is known for benefiting from targeted marketing but might not be reliable in terms of ongoing sales?True FriendsButterfliesStrangersBarnacles30s