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

Which of the following terms refers to the entire sequence of suppliers that contribute to the creation and delivery of a product?

Affinity marketing is a cooperative arrangement in which two or more organizations join to sell their products in an allied marketing campaign.

Which of the following is an important goal of internal marketing?

_____ is the development,growth,and maintenance of cost-effective,high-value relationships with individual customers,suppliers,distributors,retailers,and other partners for mutual benefit over time.

In relationship marketing,the focus is on enticing a buyer to make an immediate purchase based on factors such as low price,convenience,or packaging.

Building and managing long-term relationships between buyers and sellers are the hallmarks of transaction-based marketing.

Which of the following is true of long-term customers?

Viral marketing involves efforts that allow satisfied customers to spread the word about products to other customers.

Whirlpool and Sears are working in collaboration with each other in order to forecast,plan,and replenish the merchandise in the store.This strategy is referred to as:

A major drawback associated with customer relationship management systems is that:

What is electronic data interchange? What are its applications?

_____ is a promotional effort that involves assigning a dedicated sales teams to a firm's major customers to provide sales and service.

The employees or departments within an organization whose success depends on the work of other employees or departments are referred to as _____.

A _____ partnership is a relationship in which the firm purchases goods and services from one or more providers who meet the unique needs of the firm.

What is a strategic alliance? Explain the two ways in which strategic alliances are structured.

What is internal marketing? Why is internal marketing important for a firm?

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

Companies focus on building loyal relationships with existing customers as retaining customers costs must less than acquiring new ones.

Organizations must share similar values and goals for a partnership to succeed in the long run.

_____ is a relationship involving long-term exchanges of goods or services in return for cash or other valuable consideration.