Question 1

What are the different methods employed by marketers to obtain customer feedback?

Accepted Answer

Marketers try to compile feedback from c

Question 2

Which of the following is a just-in-time strategy that helps in reducing the time a retailer must hold products in the inventory?

Accepted Answer

A)  Lateral partnership 
B)  Quick-response merchandising 
C)  Symbiotic merchandising 
D)  Vertical strategic alliance 
A)  Lateral partnership 
B)  Quick-response merchandising 
C)  Symbiotic merchandising 
D)  Vertical strategic alliance

Question 3

The term "buzz marketing" refers to a promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is a feature of marketing efforts at the third level of relationship marketing continuum?

Accepted Answer

A)  They are least likely to lead to a long-term relationship between the buyer and seller. 
B)  They are more likely to be focused on geographic segmentation rather than psychographic segmentation. 
C)  They try to motivate consumers to buy products by offering financial incentives. 
D)  They focus on developing a dependence between buyers and sellers. 
A)  They are least likely to lead to a long-term relationship between the buyer and seller. 
B)  They are more likely to be focused on geographic segmentation rather than psychographic segmentation. 
C)  They try to motivate consumers to buy products by offering financial incentives. 
D)  They focus on developing a dependence between buyers and sellers.

Question 5

Database marketing is not effective in identifying potential customers as it increases the marketing and promotion costs.

Accepted Answer

A) True 
 B)False

Question 6

_____ involves connecting directly with existing and potential customers through nonmainstream channels.

Accepted Answer

A)  Viral marketing 
B)  Interactive marketing 
C)  Grassroots marketing 
D)  Buzz marketing 
A)  Viral marketing 
B)  Interactive marketing 
C)  Grassroots marketing 
D)  Buzz marketing

Question 7

The buyer and seller exchanges in transaction-based marketing are characterized by limited communications and little or no ongoing relationships.

Accepted Answer

A) True 
 B)False

Question 8

Arion,a firm that manufactures gaming consoles has partnered with Oura Arts to create software and games for its gaming consoles.This partnership is an example of _____.

Accepted Answer

A)  a buyer partnership 
B)  internal marketing 
C)  a vertical strategic alliance 
D)  a lateral partnership 
A)  a buyer partnership 
B)  internal marketing 
C)  a vertical strategic alliance 
D)  a lateral partnership

Question 9

The marketing efforts at the first level of the relationship marketing continuum:

Accepted Answer

A)  treat the buyers as true business partners while marketing products. 
B)  focus on effective communication and customer service for the products. 
C)  rely on pricing and other financial incentives to motivate consumers to buy products. 
D)  focus on creating long-term buyer relationships. 
A)  treat the buyers as true business partners while marketing products. 
B)  focus on effective communication and customer service for the products. 
C)  rely on pricing and other financial incentives to motivate consumers to buy products. 
D)  focus on creating long-term buyer relationships.

Question 10

_____ marketing programs are designed to reward top customers with cash,rebates,merchandise,or other premiums.

Accepted Answer

A)  Frequency 
B)  Social 
C)  Internal 
D)  Affinity 
A)  Frequency 
B)  Social 
C)  Internal 
D)  Affinity

Question 11

While forming partnerships in business-to-business markets,organizations primarily look for companies that:

Accepted Answer

A)  are focused on product-orientation. 
B)  have shorter distribution channels than their competitors. 
C)  can add value to the relationship. 
D)  differ from them in the core values and goals. 
A)  are focused on product-orientation. 
B)  have shorter distribution channels than their competitors. 
C)  can add value to the relationship. 
D)  differ from them in the core values and goals.

Question 12

A fast food restaurant is offering various meal options at discounted prices to attract new customers.This marketing effort indicates that the company is in the _____ stage of relationship marketing continuum.

Accepted Answer

A)  third 
B)  first 
C)  fourth 
D)  second 
A)  third 
B)  first 
C)  fourth 
D)  second

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Discuss national account selling.List some of its advantages.

Accepted Answer

National account selling is a promotiona

Question 15

List out the four basic elements that help firms to build long-term relationships.

Accepted Answer

Firms build long-term relationships with

Question 16

Electronic data interchange (EDI)involves computer-to-computer exchanges of invoices,orders,and other business documents.

Accepted Answer

A) True 
 B)False

Question 17

Strategic alliances are partnerships formed among firms in B2B markets to:

Accepted Answer

A)  decrease the value of debt service coverage ratio. 
B)  avoid problems related to anti-trust legislation. 
C)  create a competitive advantage. 
D)  present a united front to labor unions. 
A)  decrease the value of debt service coverage ratio. 
B)  avoid problems related to anti-trust legislation. 
C)  create a competitive advantage. 
D)  present a united front to labor unions.

Question 18

Application service providers (ASPs)assist marketers by providing software when it is needed to capture,manipulate,and analyze masses of consumer data.

Accepted Answer

A) True 
 B)False

Question 19

Reviewing customer comments and feedback and monitoring the click-through behavior on websites help companies to set appropriate,measurable goals for relationship programs.

Accepted Answer

A) True 
 B)False

Question 20

Transaction-based marketing differs from relationship marketing as transaction-based marketing:

Accepted Answer

A)  ranks customer service as a high priority. 
B)  encourages frequent customer contact. 
C)  emphasizes on individual sales rather than long-term relationships. 
D)  views customers as equal partners in buyer-seller transactions. 
A)  ranks customer service as a high priority. 
B)  encourages frequent customer contact. 
C)  emphasizes on individual sales rather than long-term relationships. 
D)  views customers as equal partners in buyer-seller transactions.

Exam 11: Relationship Marketing and Customer Relationship Management (CRM)

What are the different methods employed by marketers to obtain customer feedback?

Which of the following is a just-in-time strategy that helps in reducing the time a retailer must hold products in the inventory?

The term "buzz marketing" refers to a promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

Which of the following is a feature of marketing efforts at the third level of relationship marketing continuum?

Database marketing is not effective in identifying potential customers as it increases the marketing and promotion costs.

_____ involves connecting directly with existing and potential customers through nonmainstream channels.

The buyer and seller exchanges in transaction-based marketing are characterized by limited communications and little or no ongoing relationships.

Arion,a firm that manufactures gaming consoles has partnered with Oura Arts to create software and games for its gaming consoles.This partnership is an example of _____.

The marketing efforts at the first level of the relationship marketing continuum:

_____ marketing programs are designed to reward top customers with cash,rebates,merchandise,or other premiums.

While forming partnerships in business-to-business markets,organizations primarily look for companies that:

A fast food restaurant is offering various meal options at discounted prices to attract new customers.This marketing effort indicates that the company is in the _____ stage of relationship marketing continuum.

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

Discuss national account selling.List some of its advantages.

List out the four basic elements that help firms to build long-term relationships.

Electronic data interchange (EDI)involves computer-to-computer exchanges of invoices,orders,and other business documents.

Strategic alliances are partnerships formed among firms in B2B markets to:

Application service providers (ASPs)assist marketers by providing software when it is needed to capture,manipulate,and analyze masses of consumer data.

Reviewing customer comments and feedback and monitoring the click-through behavior on websites help companies to set appropriate,measurable goals for relationship programs.

Transaction-based marketing differs from relationship marketing as transaction-based marketing:

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters