Exam 17: Relationship Marketing and Customer Relationship Management CRM

Relationship marketing views the buyer-seller relationship as equal partners, thus motivating customers to enter into a long-term cycle of repeat purchases, customer satisfaction, and profitability.

Application service providers (ASPs) monitor the activities of marketers in capturing, manipulating, and analyzing masses of consumer data so that the privacy of the data providers is not compromised.

Match each item to the statement or sentence listed below. a.transaction-based marketing b.relationship marketing c.internal marketing d.frequency marketing e.affinity marketing f.database marketing g.application service providers (ASPs) h.customer relationship management i.partnership j.co-branding k.co-marketing l.electronic data interchange (EDI) m.supply chain n.lifetime value of a customer o.strategic alliance p.value chain q.web services r.internal customers s.seller partnership t.national account selling u.grassroots marketing v.quick-response merchandising -manage the software that marketers need to turn raw data collected about consumers into meaningful reports.

What do databases have the capacity to do when used properly?

Clayten Technologies has set up a sales team exclusively to serve one of its clients who account for a major share of its business. What is this strategy is an example of?

Internal partnerships are the foundation of an organization and its ability to meet its commitments to external entities.

Match each item to the statement or sentence listed below. a.transaction-based marketing b.relationship marketing c.internal marketing d.frequency marketing e.affinity marketing f.database marketing g.application service providers (ASPs) h.customer relationship management i.partnership j.co-branding k.co-marketing l.electronic data interchange (EDI) m.supply chain n.lifetime value of a customer o.strategic alliance p.value chain q.web services r.internal customers s.seller partnership t.national account selling u.grassroots marketing v.quick-response merchandising -programs are marketing efforts sponsored by organizations that solicit responses from individuals who share common interests and activities.

Match each item to the statement or sentence listed below. a.transaction-based marketing b.relationship marketing c.internal marketing d.frequency marketing e.affinity marketing f.database marketing g.application service providers (ASPs) h.customer relationship management i.partnership j.co-branding k.co-marketing l.electronic data interchange (EDI) m.supply chain n.lifetime value of a customer o.strategic alliance p.value chain q.web services r.internal customers s.seller partnership t.national account selling u.grassroots marketing v.quick-response merchandising -involves a combination of strategies and tools that drives relationship programs.

The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

Quintal Communications contributes $100 million and two patents to a joint venture. Systemware, a software giant, in turn contributes $60 million, one patent, and a facility for operations. Each company knows what technical support, resources, and personnel are required of each business. This arrangement is most likely a cooperative alliance.

Match each item to the statement or sentence listed below. a.transaction-based marketing b.relationship marketing c.internal marketing d.frequency marketing e.affinity marketing f.database marketing g.application service providers (ASPs) h.customer relationship management i.partnership j.co-branding k.co-marketing l.electronic data interchange (EDI) m.supply chain n.lifetime value of a customer o.strategic alliance p.value chain q.web services r.internal customers s.seller partnership t.national account selling u.grassroots marketing v.quick-response merchandising -A(n) _____ is a computer-to-computer exchange of various business documents.

What type of marketing involves the development, growth, and maintenance of cost-effective, high-value interactions with individual customers, suppliers, and other partners over time?

An added bonus of electronic data interchange (EDI) is that, in addition to automating the buying process, it has also opened new channels for gathering marketing information.

What are application service providers (ASPs)?

Marketers can use grassroots marketing approach to develop long-lasting, individual relationships with loyal customers.

In business-to-business markets, legal contracts form the basis of relationship marketing.

Strategic alliances are long-term business-to-business partnerships formed to create a competitive advantage.

The first step in measuring customer satisfaction involves comparing actual sales to forecasted sales.

A long-term relationship between a buyer and a seller is often based entirely on low prices and other financial incentives.

A horizontal strategic alliance is between firms at different levels of the supply chain.