Exam 17: Relationship Marketing and Customer Relationship Management CRM

What is internal marketing? Why is internal marketing important for a firm?

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 -is a just-in-time strategy that reduces the time for which products are held in inventory, resulting in substantial cost savings.

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 cooperative arrangement in which two businesses jointly market each other's products is called _____.

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 -are platform-independent information exchange systems that use the Internet to allow interaction between the firms.

How does a cooperative relationship formed between businesses compare to a joint venture?

The level 1 purchasers on a company's relationship marketing continuum receive specialized services and value-added benefits that may not be available from another firm.

Discuss several ways in which database marketing can help a company.

The human resources director at Lowe Locks, Inc. has decided to restructure the evaluation process. She recommends that a percentage of feedback come from input provided by suppliers and distributors of their products. This restructuring process indicates that the focus of Lowe Locks is on transaction-based marketing.

Customer satisfaction surveys represent proactive methods of assessing customer satisfaction.

The customer payback is a determination of when a firm will recoup or, at the very least, break even on the costs of customer acquisition.

When a company becomes a buyer partner in a relationship, it has a unique set of needs and requirements that vendors must meet to make the relationship successful over a long period of time.

The supply chain relationship affects only the upstream relationship between a company and its suppliers.

In third-level relationship marketing, buyer-seller relationships are transformed structurally into business partnerships.

By assembling a team of individuals to service just one account in national account selling, the seller demonstrates the depth of its commitment to the customer.

Which of the following implies the highest form of buyer-seller interactions?

What is one of the most important measures for evaluating customer relationship programs?

Internal marketing is equally as important as external marketing because studies show that 40 percent of all consumer product sales come from employees and their extended families.

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 cooperative arrangement in which two or more businesses team up to closely link their names on a single product is called _____.

Which marketing exchange remains largely transaction based?

The job of application service providers is to assist marketers in turning the data into meaningful information.