Question 1

What is one of the major forces driving the movement toward relationship marketing?

Accepted Answer

A)  the realization that retaining customers is far more profitable than losing them 
B)  the need to reduce expenditures on marketing 
C)  increased pressure from consumer lobby groups 
D)  new customer prospects are more important than existing customers 
A)  the realization that retaining customers is far more profitable than losing them 
B)  the need to reduce expenditures on marketing 
C)  increased pressure from consumer lobby groups 
D)  new customer prospects are more important than existing customers

Question 2

The reactive approach to customer feedback avoids interfacing with the consumer unless absolutely necessary. Information is gathered from monitoring blogs, message boards, or discussion groups in which the company can remain anonymous.

Accepted Answer

A) True 
 B)False

Question 3

How does relationship marketing view customers?

Accepted Answer

A)  as short-term buyers that provide quick profits 
B)  as part of a one-time buyer-seller relationship 
C)  as equal partners in a buyer-seller transaction 
D)  as potential employees 
A)  as short-term buyers that provide quick profits 
B)  as part of a one-time buyer-seller relationship 
C)  as equal partners in a buyer-seller transaction 
D)  as potential employees

Question 4

What type of marketing effort is sponsored by an organization that solicits responses from individuals who share common interests and activities?

Accepted Answer

A)  frequency 
B)  affinity 
C)  internal 
D)  database 
A)  frequency 
B)  affinity 
C)  internal 
D)  database

Question 5

Timely, appropriate response to customer complaints can actually build more loyalty than if the customer had never complained at all.

Accepted Answer

A) True 
 B)False

Question 6

Electronic data interchange has been less popular among businesses because it is an aging technology, does not work with incompatible computer systems, and is prone to errors.

Accepted Answer

A) True 
 B)False

Question 7

First-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

Accepted Answer

A) True 
 B)False

Question 8

Social interaction with the customer is the second step on the relationship marketing continuum. It can be formal or informal and occur at any level with an organization.

Accepted Answer

A) True 
 B)False

Question 9

One reason a firm might choose to partner with a certain supplier might be to ward off the threat of future competition.

Accepted Answer

A) True 
 B)False

Question 10

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
-Revenues and intangible benefits that a customer brings to a seller, minus the amount the company spent to acquire, market to, and service the customer, are called the _____.

Accepted Answer

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

Question 11

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
-Airline frequent-flyer programs are examples of _____ programs.

Accepted Answer

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

Question 12

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
-The _____ is a sequence of suppliers that contribute to the creation and delivery of a product.

Accepted Answer

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

Question 13

Enhancing customer satisfaction is a three-step process of understanding customer needs, obtaining customer feedback, and implementing a system to ensure that satisfaction remains positive.

Accepted Answer

A) True 
 B)False

Question 14

What do lifetime-value-of-a-customer and payback calculations recognize?

Accepted Answer

A)  that customers will always be there, regardless of the industry or product 
B)  that customer complaints have little relevance to how people actually behave 
C)  that long-term customers are usually more valuable than new ones 
D)  that customer satisfaction is not the determinant of how loyal the customer will be 
A)  that customers will always be there, regardless of the industry or product 
B)  that customer complaints have little relevance to how people actually behave 
C)  that long-term customers are usually more valuable than new ones 
D)  that customer satisfaction is not the determinant of how loyal the customer will be

Question 15

Because customer complaints erode loyalty and increase operating expenses, firms should limit the use of different customer feedback methods.

Accepted Answer

A) True 
 B)False

Question 16

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 marketing efforts that connect directly with existing and potential customers through nonmainstream channels.

Accepted Answer

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

Question 17

In the business-to-business market, cooperative buyer-seller efforts seldom bring much improvement in the efficiency and effectiveness of both partners in a national account selling arrangement.

Accepted Answer

A) True 
 B)False

Question 18

Lateral partnership is a relationship that involves customers within an organization.

Accepted Answer

A) True 
 B)False

Question 19

Customer satisfaction is defined as the psychological difference between what a customer expects and what he or she perceives he or she needs.

Accepted Answer

A) True 
 B)False

Question 20

Transaction-based marketing recognizes and builds on the concept that providing added value to customer transactions through superior customer service improves customer retention and referrals.

Accepted Answer

A) True 
 B)False

What is one of the major forces driving the movement toward relationship marketing?

The reactive approach to customer feedback avoids interfacing with the consumer unless absolutely necessary. Information is gathered from monitoring blogs, message boards, or discussion groups in which the company can remain anonymous.

How does relationship marketing view customers?

What type of marketing effort is sponsored by an organization that solicits responses from individuals who share common interests and activities?

Timely, appropriate response to customer complaints can actually build more loyalty than if the customer had never complained at all.

Electronic data interchange has been less popular among businesses because it is an aging technology, does not work with incompatible computer systems, and is prone to errors.

First-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

Social interaction with the customer is the second step on the relationship marketing continuum. It can be formal or informal and occur at any level with an organization.

One reason a firm might choose to partner with a certain supplier might be to ward off the threat of future competition.

Enhancing customer satisfaction is a three-step process of understanding customer needs, obtaining customer feedback, and implementing a system to ensure that satisfaction remains positive.

What do lifetime-value-of-a-customer and payback calculations recognize?

Because customer complaints erode loyalty and increase operating expenses, firms should limit the use of different customer feedback methods.

In the business-to-business market, cooperative buyer-seller efforts seldom bring much improvement in the efficiency and effectiveness of both partners in a national account selling arrangement.

Lateral partnership is a relationship that involves customers within an organization.

Customer satisfaction is defined as the psychological difference between what a customer expects and what he or she perceives he or she needs.

Transaction-based marketing recognizes and builds on the concept that providing added value to customer transactions through superior customer service improves customer retention and referrals.

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 one of the major forces driving the movement toward relationship marketing?

The reactive approach to customer feedback avoids interfacing with the consumer unless absolutely necessary. Information is gathered from monitoring blogs, message boards, or discussion groups in which the company can remain anonymous.

How does relationship marketing view customers?

What type of marketing effort is sponsored by an organization that solicits responses from individuals who share common interests and activities?

Timely, appropriate response to customer complaints can actually build more loyalty than if the customer had never complained at all.

Electronic data interchange has been less popular among businesses because it is an aging technology, does not work with incompatible computer systems, and is prone to errors.

First-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

Social interaction with the customer is the second step on the relationship marketing continuum. It can be formal or informal and occur at any level with an organization.

One reason a firm might choose to partner with a certain supplier might be to ward off the threat of future competition.

Enhancing customer satisfaction is a three-step process of understanding customer needs, obtaining customer feedback, and implementing a system to ensure that satisfaction remains positive.

What do lifetime-value-of-a-customer and payback calculations recognize?

Because customer complaints erode loyalty and increase operating expenses, firms should limit the use of different customer feedback methods.

In the business-to-business market, cooperative buyer-seller efforts seldom bring much improvement in the efficiency and effectiveness of both partners in a national account selling arrangement.

Lateral partnership is a relationship that involves customers within an organization.

Customer satisfaction is defined as the psychological difference between what a customer expects and what he or she perceives he or she needs.

Transaction-based marketing recognizes and builds on the concept that providing added value to customer transactions through superior customer service improves customer retention and referrals.

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