Continuing education quiz.

Tracking performance

By Steven Reider

1. A branch scorecard helps a bank only if the bank:

   [] Pays incentives for profitable products.

   [] Rewards individuals rather than branches.

   [] Has a formal sales training program.

   [] Has no cap on incentive payments.

2. An effective performance scorecard should be all of the following things EXCEPT for: [] Being easily understandable.

   [] Having a wide variety of measured categories.

   [] Having goals that are attainable.

   [] Having categories of measurement that remain constant over time.

3. The fairest way to measure account acquisition is:

   [] Absolute units sold.

   [] Performance against historic benchmarks.

   [] Performance against market-based sales goals.

   [] Dollar volume of new balances.

   The "Chicken Salad" Strategy by Virginia Graves

4. F&M offered lunch to targeted women customers for all of the following reasons EXCEPT:

   [] Women are more likely to enjoy lunch at a fancy restaurant

   [] Women opened and controlled a high percentage of household banking relationships.

   [] It was a high-touch way to pursue deposit growth.

   [] It was a low-cost marketing strategy.

5. F&M's marketing strategy is based on the idea that customers:

   [] Care only about rate.

   [] Prefer electronic convenience.

   [] Like party invitations.

   [] Each have their unique reasons for choosing the bank.

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6. In today's "experience economy," consumers increasingly bypass commoditized goods and services to:

   [] Find the lowest price.

   [] Engage with companies that advertise widely.

   [] Spend time with companies that stage engaging experiences.

   [] Do business with a name that is well known in the community.

7. Nothing makes a branding effort fail faster than:

   [] A phony product or service.

   [] A lack of a good tagline.

   [] A spokesman who projects the wrong image.

   [] Poorly conceived advertising.

8. The goal of rendering "authenticity" is to get people to:

   [] Notice your name.

   [] Pay attention to your benefits.

   [] Perceive your offerings as real.

   [] Accept you as...