CREST method
C: "Calm the Customer"
R: "Repeat the Problem"
E: Use "Empathy Statements"
S: "Solve the Problem"
T: Make a "Timely Response"
- Good customer service increases customer loyalty and future sales.
Maslow's Hierarchy of Needs
physiological, safety, love/belonging, esteem, self...
MKT-315 GCU MIDTERM
CREST method - ANSWERC: "Calm the Customer"
R: "Repeat the Problem"
E: Use "Empathy Statements"
S: "Solve the Problem"
T: Make a "Timely Response"
- Good customer service increases customer loyalty and future sales.
Maslow's Hierarchy of Needs - ANSWERphysiological, safety, love/belonging, esteem,
self-actualization
Types of Purchases - ANSWERnew task, straight rebuy, modified rebuy
New task/buy - ANSWERPurchases of goods/services not previously bought from
organization
straight rebuy - ANSWERPurchases that are exactly the same
Modified rebuy - ANSWERpurchases that are similar buy have a small change (price,
etc)
Categories of competition - ANSWERpure competition, monopolistic competition,
oligopoly, Monopoly
Pure competition - ANSWERBroad array of competitors selling or producing the same
offering
Monopolistic competition - ANSWERMany sellers or producers with differentiated
offerings, products are different but essentially the same. Ex: toothpaste and soap
Oligopoly - ANSWERA few primary sellers or producers
Monopoly - ANSWEROne seller or producer
Generational Cohorts - ANSWERPeople born during the same period and who share
common life experiences.
Depression Era/WWII - ANSWER1922-1945
Baby Boomers - ANSWER1946-1964
Gen X - ANSWER1965-1982
Millennials or Gen Y's - ANSWER1983-2000
Gen Z's - ANSWER2001-present
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ALVINK2022. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.