Question 1

Most agree that CRM and relationship marketing are the same things.

Accepted Answer

A) True 
 B)False

Question 2

Relationship marketing focuses on maintaining a continuous relationship with customers by providing value that increases their commitment to the company leading to increases in customer retention, customer lifetime value and greater share of wallet.

Accepted Answer

A) True 
 B)False

Question 3

Relationship marketing strategies benefit companies most if they engage in exchanges with customers that are transactional in nature.

Accepted Answer

A) True 
 B)False

Question 4

A good way to deal with low and no-profit customers is simply provide them with lesser service.

Accepted Answer

A) True 
 B)False

Question 5

The marketing function used to be centralized and now is becoming more and more decentralized. What is a major reason for this?

Accepted Answer

A) line managers are closer to the customer 
B) line managers became transaction oriented through use of transactional databases 
C) line managers experimented successfully with direct-marketing approaches 
D) A, B and C are all correct 
E) Only A and C are correct 
A) line managers are closer to the customer 
B) line managers became transaction oriented through use of transactional databases 
C) line managers experimented successfully with direct-marketing approaches 
D) A, B and C are all correct 
E) Only A and C are correct

Question 6

"Barnacles"

Accepted Answer

A) are the most loyal customer base because they stick with a company . 
B) are a long-term and low-profit customer segment. 
C) are a short-term customer base that has long-term potential. 
D) are turned into butterflies as soon as possible . 
E) The cash cows for most organizations 
A) are the most loyal customer base because they stick with a company . 
B) are a long-term and low-profit customer segment. 
C) are a short-term customer base that has long-term potential. 
D) are turned into butterflies as soon as possible . 
E) The cash cows for most organizations

Question 7

CRM looks at market share as one of the major keys to company profits.

Accepted Answer

A) True 
 B)False

Question 8

Companies have found that it costs more to retain old customers than to acquire new ones.

Accepted Answer

A) True 
 B)False

Question 9

Which is not a reason for marketing becoming more decentralized?

Accepted Answer

A) cross-functional in-house venture groups have been found to be successful in developing new products 
B) the U.S. recession of the early 1990s caused companies to question the effectiveness of their mass marketing efforts. 
C) the growth of the CCC and the fact their market information is applicable to all departments, not just marketing 
D) marketing researchers' abilities to data mine the vast amounts of customer data in data warehouses and data marts 
E) all of the above 
A) cross-functional in-house venture groups have been found to be successful in developing new products 
B) the U.S. recession of the early 1990s caused companies to question the effectiveness of their mass marketing efforts. 
C) the growth of the CCC and the fact their market information is applicable to all departments, not just marketing 
D) marketing researchers' abilities to data mine the vast amounts of customer data in data warehouses and data marts 
E) all of the above

Question 10

Some consumers satisfy their social needs dealing with company clerks and sales people.

Accepted Answer

A) True 
 B)False

Question 11

Butterflies are opinion leaders who spread the word about a company as well as being high-profit themselves.

Accepted Answer

A) True 
 B)False

Question 12

Findings have shown that despite their intention, loyalty programs are an offensive strategy aimed at increasing a company's customer base.

Accepted Answer

A) True 
 B)False

Question 13

Relationship marketing focuses on all but which one of the following?

Accepted Answer

A) prospects as opposed to customers 
B) individuals as opposed to masses 
C) developing a learning relationship 
D) creating a bond between customers and brands 
E) all of the above 
A) prospects as opposed to customers 
B) individuals as opposed to masses 
C) developing a learning relationship 
D) creating a bond between customers and brands 
E) all of the above

Question 14

Relational exchanges do NOT take place between a firm and its

Accepted Answer

A) service providers. 
B) government entities. 
C) ultimate consumers. 
D) intermediate customers. 
E) all are possible relational exchange partners 
A) service providers. 
B) government entities. 
C) ultimate consumers. 
D) intermediate customers. 
E) all are possible relational exchange partners

Question 15

Relationship marketing includes affinity marketing, loyalty marketing and key account management.

Accepted Answer

A) True 
 B)False

Question 16

Relational exchanges do NOT take place between a firm and its

Accepted Answer

A) competitors . 
B) non-profit organizations. 
C) functional departments. 
D) employees. 
E) all are possible relational exchange partners. 
A) competitors . 
B) non-profit organizations. 
C) functional departments. 
D) employees. 
E) all are possible relational exchange partners.

Question 17

Findings have shown that

Accepted Answer

A) by dealing with a limited number of companies, consumers achieve cognitive consistency. 
B) consumers prefer diversity, they like choice, and they prefer dealing with a large number of companies. 
C) loyalty programs are an offensive strategy aimed at increasing the customer base. 
D) loyalty programs, surprisingly, are not as developed in global companies as they are in large domestic companies. 
E) loyalty programs are on the decrease world-wide. 
A) by dealing with a limited number of companies, consumers achieve cognitive consistency. 
B) consumers prefer diversity, they like choice, and they prefer dealing with a large number of companies. 
C) loyalty programs are an offensive strategy aimed at increasing the customer base. 
D) loyalty programs, surprisingly, are not as developed in global companies as they are in large domestic companies. 
E) loyalty programs are on the decrease world-wide.

Question 18

When exchange partners reach this, other primary exchange partners are virtually excluded from consideration.

Accepted Answer

A) trust 
B) satisfaction 
C) commitment 
D) cognitive consistency 
E) integration rationalization 
A) trust 
B) satisfaction 
C) commitment 
D) cognitive consistency 
E) integration rationalization

Question 19

One of the reasons marketing has become more decentralized is that cross-functional in-house venture groups have been found to be successful in developing new products.

Accepted Answer

A) True 
 B)False

Question 20

Relationship marketing has three basic features. Which of the following lists all three correctly?

Accepted Answer

A) relational databases, integrated marketing communications, capabilities for dialogue 
B) relational databases, data silos, capabilities for dialogue 
C) data silos, integrated marketing communications, capabilities for dialogue 
D) relational databases, integrated marketing communications, call centers 
E) relational databases, data silos, call centers 
A) relational databases, integrated marketing communications, capabilities for dialogue 
B) relational databases, data silos, capabilities for dialogue 
C) data silos, integrated marketing communications, capabilities for dialogue 
D) relational databases, integrated marketing communications, call centers 
E) relational databases, data silos, call centers

Most agree that CRM and relationship marketing are the same things.

Relationship marketing focuses on maintaining a continuous relationship with customers by providing value that increases their commitment to the company leading to increases in customer retention, customer lifetime value and greater share of wallet.

Relationship marketing strategies benefit companies most if they engage in exchanges with customers that are transactional in nature.

A good way to deal with low and no-profit customers is simply provide them with lesser service.

The marketing function used to be centralized and now is becoming more and more decentralized. What is a major reason for this?

"Barnacles"

CRM looks at market share as one of the major keys to company profits.

Companies have found that it costs more to retain old customers than to acquire new ones.

Which is not a reason for marketing becoming more decentralized?

Some consumers satisfy their social needs dealing with company clerks and sales people.

Butterflies are opinion leaders who spread the word about a company as well as being high-profit themselves.

Findings have shown that despite their intention, loyalty programs are an offensive strategy aimed at increasing a company's customer base.

Relationship marketing focuses on all but which one of the following?

Relational exchanges do NOT take place between a firm and its

Relationship marketing includes affinity marketing, loyalty marketing and key account management.

Relational exchanges do NOT take place between a firm and its

Findings have shown that

When exchange partners reach this, other primary exchange partners are virtually excluded from consideration.

One of the reasons marketing has become more decentralized is that cross-functional in-house venture groups have been found to be successful in developing new products.

Relationship marketing has three basic features. Which of the following lists all three correctly?

Introduction to Customer Relationship Management

The History and Development of CRM

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Business-To-Business CRM

Understanding the Customercompany Profit Chain: Satisfaction, Loyalty, Retention, and Profits

The CRM Strategy Cycle: Acquisition, Retention

Privacy and Ethics Considerations

CRM Program Measurement and Tools

Social Networking and CRM

CRM Trends, Challenges, and Opportunities

Filters

Exam 3: Relationship Marketing and CRM

Most agree that CRM and relationship marketing are the same things.

Relationship marketing focuses on maintaining a continuous relationship with customers by providing value that increases their commitment to the company leading to increases in customer retention, customer lifetime value and greater share of wallet.

Relationship marketing strategies benefit companies most if they engage in exchanges with customers that are transactional in nature.

A good way to deal with low and no-profit customers is simply provide them with lesser service.

The marketing function used to be centralized and now is becoming more and more decentralized. What is a major reason for this?

"Barnacles"

CRM looks at market share as one of the major keys to company profits.

Companies have found that it costs more to retain old customers than to acquire new ones.

Which is not a reason for marketing becoming more decentralized?

Some consumers satisfy their social needs dealing with company clerks and sales people.

Butterflies are opinion leaders who spread the word about a company as well as being high-profit themselves.

Findings have shown that despite their intention, loyalty programs are an offensive strategy aimed at increasing a company's customer base.

Relationship marketing focuses on all but which one of the following?

Relational exchanges do NOT take place between a firm and its

Relationship marketing includes affinity marketing, loyalty marketing and key account management.

Relational exchanges do NOT take place between a firm and its

Findings have shown that

When exchange partners reach this, other primary exchange partners are virtually excluded from consideration.

One of the reasons marketing has become more decentralized is that cross-functional in-house venture groups have been found to be successful in developing new products.

Relationship marketing has three basic features. Which of the following lists all three correctly?

Introduction to Customer Relationship Management

The History and Development of CRM

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Business-To-Business CRM

Understanding the Customercompany Profit Chain: Satisfaction, Loyalty, Retention, and Profits

The CRM Strategy Cycle: Acquisition, Retention

Privacy and Ethics Considerations

CRM Program Measurement and Tools

Social Networking and CRM

CRM Trends, Challenges, and Opportunities

Filters