Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question.
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1.
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The
process of moving raw materials from extraction to final consumptions is called: a. | The consumption
chain. | c. | The value
chain. | b. | The materials chain. | | | | |
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2.
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Activities concerned with receiving, storing and distributing raw materials and
components are called: a. | Operations. | c. | Inbound logistics. | b. | Outbound
logistics. | | | | |
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3.
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Which
of the following is NOT a core activity of the value chain? a. | Procurement. | c. | Product
development. | b. | Infrastructure. | | | | |
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4.
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What
proportion of the cost of selling to a new customer is the cost of selling to an existing
consumer? a. | One-tenth. | c. | One-third. | b. | One-sixth. | | | | |
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5.
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What
does KAM stand for? a. | Key Area Maintenance. | c. | Keen Action Matching. | b. | Key Account
Management. | | | | |
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6.
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If
Government monopoly regulators ruled that an alliance between two companies had to be dissolved, this
would be an example of: a. | Sudden ending of the
relationship. | c. | Involuntary
ending of the relationship. | b. | Forced ending of the relationship. | | | | |
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7.
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Quality is: a. | The relationship between what people expect and what they
get. | c. | The relationship
between value gained and cost paid. | b. | The relationship between price paid and product
received. | | | | |
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8.
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Comparing each element of the value chain with the most successful equivalent element
in an equivalent value chain is called: a. | Quality control. | c. | Zero defects. | b. | Benchmarking. | | | | |
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9.
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Which
of the following is NOT a basic type of loyalty? a. | Price loyalty. | c. | Product loyalty. | b. | Monopoly
loyalty. | | | | |
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10.
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If a
service promise fails to materialise, this is called: a. | Value
breakdown. | c. | Termination. | b. | Service breakdown. | | | | |
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11.
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What
does SLTV stand for? a. | Standard Loyalty Test Vehicle. | c. | Second Lifetime Value. | b. | Single Loyalty
Television. | | | | |
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12.
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Losing customers who are really more trouble than they are worth would categorise
as: a. | Intentionally
pushed away. | c. | Bought
away. | b. | Unintentionally pushed away. | | | | |
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13.
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How
much will a 1% improvement in customer retention add to a firm’s value?
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14.
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A
system in which firms contribute at different stages in the process is called: a. | A value
chain. | c. | A value
system. | b. | A value network. | | | | |
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15.
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A
key-account relationship which is characterised by continuous improvement, shared rewards and
quasi-integration would be called: a. | Partnership KAM. | c. | Synergystic KAM. | b. | Mid-KAM. | | | | |
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