Question 1

What is customer relationship management?

Accepted Answer

A)  the process of maintaining good relationships between all wholesalers and/or retailers in the distribution channel 
B)  a process used to retain customers when purchases are based on low price or convenience 
C)  a system for handling late deliveries and damaged product returns 
D)  the process of re-orienting a business to a concentrated focus on satisfying customers 
A)  the process of maintaining good relationships between all wholesalers and/or retailers in the distribution channel 
B)  a process used to retain customers when purchases are based on low price or convenience 
C)  a system for handling late deliveries and damaged product returns 
D)  the process of re-orienting a business to a concentrated focus on satisfying customers

Question 2

It is NOT unreasonable to think that in the future radio frequency identification (RFID) technology will allow retailers to tag individual store items in order to gather information about the purchaser.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is one of the advantages of national account selling?

Accepted Answer

A)  the buyer's ability to demonstrate its depth of commitment to the seller 
B)  a strengthened buyer-seller relationship through collaboration 
C)  demonstrated loyalty to a specific buyer through its favoured status 
D)  increased costs, but increased profits as well 
A)  the buyer's ability to demonstrate its depth of commitment to the seller 
B)  a strengthened buyer-seller relationship through collaboration 
C)  demonstrated loyalty to a specific buyer through its favoured status 
D)  increased costs, but increased profits as well

Question 4

The advantages of managing the supply chain include lower costs, improved communications, faster conflict resolution, and a higher level of innovation.

Accepted Answer

A) True 
 B)False

Question 5

Duncan Hines brownies made with Hershey's syrup and Diet Coke made with Splenda are both examples of co-branding.

Accepted Answer

A) True 
 B)False

Question 6

Why do customers prefer to have continuing relationships with businesses or suppliers?

Accepted Answer

A)  Humans like to repeat processes. 
B)  Businesses and suppliers always provide consistent high quality. 
C)  By reducing the number of choices, the decision-making process is made easier. 
D)  There are a limited number of suppliers in most industries. 
A)  Humans like to repeat processes. 
B)  Businesses and suppliers always provide consistent high quality. 
C)  By reducing the number of choices, the decision-making process is made easier. 
D)  There are a limited number of suppliers in most industries.

Question 7

In the context of the relationship marketing continuum, what is a drawback associated with the efforts that focus on pricing and other financial incentives to attract customers?

Accepted Answer

A)  It makes advertising and promotional expenses worthless. 
B)  It leads to hostile relationships with the suppliers. 
C)  It does not encourage creativity in advertising. 
D)  It is least likely to lead to a long-term relationship. 
A)  It makes advertising and promotional expenses worthless. 
B)  It leads to hostile relationships with the suppliers. 
C)  It does not encourage creativity in advertising. 
D)  It is least likely to lead to a long-term relationship.

Question 8

Pricing may lure a customer, but will not retain the customer in the long run because competitors can always duplicate pricing and discounts.

Accepted Answer

A) True 
 B)False

Question 9

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
-focuses on short-term, one-time exchanges.

Accepted Answer

The answer of Match each item to the statement or...

Question 10

The four types of partnerships in business-to-business markets are buyer, seller, internal, and lateral.

Accepted Answer

A) True 
 B)False

Question 11

One basic element of relationship marketing involves putting customers at the centre of a company's efforts. Companies are then required to gather information about customers, analyze the data, and monitor customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 12

What is often the cause of failure with customer relationship management (CRM)?

Accepted Answer

A)  inability to organize the organization's people and processes 
B)  a lack of interest from customers and potential customers 
C)  business processes that are changed to support a customer focus 
D)  competitors deciding to offer their own CRM system 
A)  inability to organize the organization's people and processes 
B)  a lack of interest from customers and potential customers 
C)  business processes that are changed to support a customer focus 
D)  competitors deciding to offer their own CRM system

Question 13

The results of database marketing create the basis for new advertising and other promotions targeted to carefully identified groups of customers.

Accepted Answer

A) True 
 B)False

Question 14

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

Accepted Answer

A) True 
 B)False

Question 15

An important part of an effective customer relationship management (CRM) strategy is the process of re-establishing lost relationships with customers.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A)  long-term orientation 
B)  emphasis on retaining customers 
C)  low-to-moderate customer contact 
D)  high degree of customer commitment 
A)  long-term orientation 
B)  emphasis on retaining customers 
C)  low-to-moderate customer contact 
D)  high degree of customer commitment

Question 17

Why are strategic alliances formed?

Accepted Answer

A)  to satisfy corporate officers 
B)  to avoid problems related to antitrust legislation 
C)  to create a competitive advantage 
D)  to present a united front to labour unions 
A)  to satisfy corporate officers 
B)  to avoid problems related to antitrust legislation 
C)  to create a competitive advantage 
D)  to present a united front to labour unions

Question 18

Firms with similar skills and resources form a partnership to reduce costs.

Accepted Answer

A) True 
 B)False

Question 19

Distinguish between co-branding and co-marketing. Give an example of each.

Accepted Answer

Co-branding is a co-operative arrangemen

Question 20

What kind of commitment is necessary in relationship marketing?

Accepted Answer

A)  a reduction in the use of technology in favour of one-on-one communication 
B)  an emphasis on new customers 
C)  a company-wide initiative 
D)  conflict between buyers and the company 
A)  a reduction in the use of technology in favour of one-on-one communication 
B)  an emphasis on new customers 
C)  a company-wide initiative 
D)  conflict between buyers and the company

What is customer relationship management?

It is NOT unreasonable to think that in the future radio frequency identification (RFID) technology will allow retailers to tag individual store items in order to gather information about the purchaser.

Which of the following is one of the advantages of national account selling?

The advantages of managing the supply chain include lower costs, improved communications, faster conflict resolution, and a higher level of innovation.

Duncan Hines brownies made with Hershey's syrup and Diet Coke made with Splenda are both examples of co-branding.

Why do customers prefer to have continuing relationships with businesses or suppliers?

In the context of the relationship marketing continuum, what is a drawback associated with the efforts that focus on pricing and other financial incentives to attract customers?

Pricing may lure a customer, but will not retain the customer in the long run because competitors can always duplicate pricing and discounts.

The four types of partnerships in business-to-business markets are buyer, seller, internal, and lateral.

One basic element of relationship marketing involves putting customers at the centre of a company's efforts. Companies are then required to gather information about customers, analyze the data, and monitor customer satisfaction.

What is often the cause of failure with customer relationship management (CRM)?

The results of database marketing create the basis for new advertising and other promotions targeted to carefully identified groups of customers.

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

An important part of an effective customer relationship management (CRM) strategy is the process of re-establishing lost relationships with customers.

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

Why are strategic alliances formed?

Firms with similar skills and resources form a partnership to reduce costs.

Distinguish between co-branding and co-marketing. Give an example of each.

What kind of commitment is necessary in relationship marketing?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Filters

Exam 17: Relationship Marketing and Customer Relationship Management CRM

What is customer relationship management?

It is NOT unreasonable to think that in the future radio frequency identification (RFID) technology will allow retailers to tag individual store items in order to gather information about the purchaser.

Which of the following is one of the advantages of national account selling?

The advantages of managing the supply chain include lower costs, improved communications, faster conflict resolution, and a higher level of innovation.

Duncan Hines brownies made with Hershey's syrup and Diet Coke made with Splenda are both examples of co-branding.

Why do customers prefer to have continuing relationships with businesses or suppliers?

In the context of the relationship marketing continuum, what is a drawback associated with the efforts that focus on pricing and other financial incentives to attract customers?

Pricing may lure a customer, but will not retain the customer in the long run because competitors can always duplicate pricing and discounts.

The four types of partnerships in business-to-business markets are buyer, seller, internal, and lateral.

One basic element of relationship marketing involves putting customers at the centre of a company's efforts. Companies are then required to gather information about customers, analyze the data, and monitor customer satisfaction.

What is often the cause of failure with customer relationship management (CRM)?

The results of database marketing create the basis for new advertising and other promotions targeted to carefully identified groups of customers.

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

An important part of an effective customer relationship management (CRM) strategy is the process of re-establishing lost relationships with customers.

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

Why are strategic alliances formed?

Firms with similar skills and resources form a partnership to reduce costs.

Distinguish between co-branding and co-marketing. Give an example of each.

What kind of commitment is necessary in relationship marketing?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Filters