Exam 17: Relationship Marketing and Customer Relationship Management CRM

What is the first step in measuring customer satisfaction?

The difference between viral marketing and buzz marketing is that buzz marketing is orchestrated on a more formal basis by influencers that disseminate their positive experience with the product or company.

What are the problems associated with customer relationship management systems?

Databases allow sellers to identify their most profitable customers, but usually at the expense of increasing marketing and promotional costs.

Business partners can communicate with each other through web services only if they are using the same software and network platforms.

Creating long-term relationships with customers leads to improved products and better sales, but it comes at a high price for the company and, ultimately, the consumer.

Which of the following is NOT a characteristic of the third level of relationship marketing?

Businesses create partnerships for a variety of reasons that might include market expansion domestically or internationally, product expansion or innovation, and economies of scale.

What is a potential drawback of a company focusing on price?

National account selling technique is used by marketers to serve their largest and most profitable customers.

What needs do seller partnerships in the business-to-business market reflect?

Responding to customer complaints is a proactive approach to customer feedback.

Transaction based marketing emphasizes retaining customers over making a sale.

Customer relationship management leverages technology to integrate all stakeholders into a company's product design and development, manufacturing, marketing, sales, and customer service processes.

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 -Managerial actions that help all members of an organization accept their roles in implementing a marketing strategy are called _____.

What is electronic data interchange, and how is it used?

What is involved in the joint venture option for structuring a strategic alliance?

Widgets have become popular marketing tools as they can be easily passed on from one person to another through social networking sites.