You Turn on the News to Discover That CIBC Has

question 78

Multiple Choice

You turn on the news to discover that CIBC has failed. Your parents have their life savings of $220,000 in an account at CIBC. Just then, the phone rings. Your mom is in a panic. What should you tell her?

• A) to get to the bank right away to see if she can get some, if not all, of their money withdrawn
• B) because the bank is CDIC insured, she and your dad will be able to recover $100,000 of their savings
• C) not to worry: even though CIBC is not CDIC insured, the bank is required to give them their money
• D) because the bank is CDIC insured, she and your dad will receive a cheque for the total amount of their savings

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Definitions:

Services

Intangible products provided to consumers, such as repairs, entertainment, or consultation, which do not result in ownership of anything physical.

Customer Experience Management

The method of creating and responding to interactions with customers in a way that fulfills or surpasses their expectations, aiming to boost satisfaction, loyalty, and support among them.

Internal Marketing

The promotion of a company’s objectives, products, and services to its employees, aiming to align customer and employee satisfaction.

Services Marketing

Marketing practices tailored to promote and sell intangible services, as opposed to tangible products.