Exam 11: Relationship Marketing and Customer Relationship Management Crm

Marketers have discovered that when they implement relationship marketing strategies,it is more expensive to retain satisfied customers than attracting new customers.​ Indicate the answer choice that best completes the statement or answers the question.

​You can easily identify the long-term customers who bring the most value to your babysitting service.They are the ones who:

Discuss national account selling.List some of its advantages.

Which of following statements is true about customer satisfaction?​

_____ is a cooperative arrangement in which two or more businesses jointly promote each other's products.

Relationship marketing focuses on developing long-term,high-value relationships with many different stakeholders including _______________.​

A leading detergent brand receives complaints from its customers that the chemicals used are too strong and dangerous,and they do not smell good.To counter this,the company runs a series of ads showing its experts approaching select customers with an improved detergent that addresses the concerns of the customers.The company is engaging in:

Direct TV and Dish Network often advertise ​introductory price promotions for new customers providing cost savings on satellite TV and/or Internet bundles.What type of relationship marketing strategy is used in this example?

_________________ are strategic alliances with other companies or with not-for-profit organizations.​

Jackie works in the custom lens department of Maui Jim sunglasses and prepares lenses for prescription sunglasses that the company receives from its network of specialty eyeglass retailers.Based on relationship marketing principles,which term best classifies Jackie?​

A _____ is a strategic relationship that extends to external entities but involves no direct buyer-seller interactions.

Customer satisfaction can be measured in terms of the gaps between what customers expect and what they perceive they have received.

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.

The relationship marketing continuum has three levels.With respect to the different levels,we know that:​

Match each item with the correct statement below. -_____ is a forecasting technique that assigns weights to historical sales data,giving the greatest weight to the most recent data.

A partnership is an affiliation of two or more companies that help each other achieve common goals.

You and your business partner own a chain of restaurants in the Midwest.You started out with one restaurant over twenty years ago,and thru smart acquisitions,you now own 35 establishments in the area.You are currently in discussions to buy a profitable steakhouse in the Chicago area from an owner who is getting ready to retire.One of the most important things you focus on when considering an acquisition is the customer base of the acquisition target company.You want to make sure that you are buying a business that has a loyal base of customers who have a long-term association with the business.You have instructed your financial advisors to give extra consideration to the quality and quantity of the customer base in their assessment of the business. ​ ​Given your acquisition strategy,which of the following metrics should you use to assess the quality of the acquisition target's customer base?

_____ describes the extent to which buyers of a product or a service are content with their purchases.

Transaction based marketing emphasizes retaining customers over making a sale.

The payback period in a customer relationship is the length of time it takes to break even on customer acquisition costs.