Ben Is Responsible for Managing the Customer Satisfaction of Hampton

question 130

Multiple Choice

Ben is responsible for managing the customer satisfaction of Hampton Inn motel guests. Ben is currently analyzing the customer relationship management (CRM) program at Hampton Inn and is contemplating where he should begin making changes. Which of the following would be the beginning of a CRM program, and therefore the area Ben should consider first?

• A) getting rid of the most unprofitable customers.
• B) offering new types of hotel rooms for frequent guests.
• C) expanding the number and locations of Hampton Inns.
• D) providing information to customers through the Web, Facebook, or in person.
• E) increasing the promotion budget with a new sweepstakes for frequent customers.

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Definitions:

Market Interest Rate

The prevailing rate of interest determined by supply and demand in the money market that borrowers must pay to obtain funds.

Recognized Gain

The profit realized from the sale of an asset, calculated by subtracting the asset's cost from its selling price and officially recorded in financial statements.

Boot

Additional value or cash that is exchanged in a transaction to even out a trade or sale.

Book Value

The net value of an asset or a company calculated by total assets minus liabilities and intangible assets such as goodwill.