Question 1

Relationship marketing views the buyer-seller relationship as equal partners, thus motivating customers to enter into a long-term cycle of repeat purchases, customer satisfaction, and profitability.

Accepted Answer

A) True 
 B)False  True

Question 2

Application service providers (ASPs) monitor the activities of marketers in capturing, manipulating, and analyzing masses of consumer data so that the privacy of the data providers is not compromised.

Accepted Answer

A) True 
 B)False  False

Question 3

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
-manage the software that marketers need to turn raw data collected about consumers into meaningful reports.

Accepted Answer

g

Question 4

What do databases have the capacity to do when used properly?

Accepted Answer

A)   calculate the amount of a customer's next purchase
B)   force customers or targeted customer groups to buy more
C)   reduce customer retention and referral rates
D)   identify a firm's most profitable customers

Question 5

Clayten Technologies has set up a sales team exclusively to serve one of its clients who account for a major share of its business. What is this strategy is an example of?

Accepted Answer

A)   vertical supply chain integration
B)   vendor-managed selling
C)   quick-response merchandising
D)   national account selling

Question 6

Internal partnerships are the foundation of an organization and its ability to meet its commitments to external entities.

Accepted Answer

A) True 
 B)False

Question 7

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
-programs are marketing efforts sponsored by organizations that solicit responses from individuals who share common interests and activities.

Accepted Answer

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

Question 8

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
-involves a combination of strategies and tools that drives relationship programs.

Accepted Answer

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

Question 9

The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

Accepted Answer

A) True 
 B)False

Question 10

Quintal Communications contributes $100 million and two patents to a joint venture. Systemware, a software giant, in turn contributes $60 million, one patent, and a facility for operations. Each company knows what technical support, resources, and personnel are required of each business. This arrangement is most likely a cooperative alliance.

Accepted Answer

A) True 
 B)False

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
-A(n) _____ is a computer-to-computer exchange of various business documents.

Accepted Answer

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

Question 12

What type of marketing involves the development, growth, and maintenance of cost-effective, high-value interactions with individual customers, suppliers, and other partners over time?

Accepted Answer

A)   relationship
B)   transaction-based
C)   internal
D)   community

Question 13

An added bonus of electronic data interchange (EDI) is that, in addition to automating the buying process, it has also opened new channels for gathering marketing information.

Accepted Answer

A) True 
 B)False

Question 14

What are application service providers (ASPs)?

Accepted Answer

The answer of What are application service providers (ASPs)?...

Question 15

Marketers can use grassroots marketing approach to develop long-lasting, individual relationships with loyal customers.

Accepted Answer

A) True 
 B)False

Question 16

In business-to-business markets, legal contracts form the basis of relationship marketing.

Accepted Answer

A) True 
 B)False

Question 17

Strategic alliances are long-term business-to-business partnerships formed to create a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 18

The first step in measuring customer satisfaction involves comparing actual sales to forecasted sales.

Accepted Answer

A) True 
 B)False

Question 19

A long-term relationship between a buyer and a seller is often based entirely on low prices and other financial incentives.

Accepted Answer

A) True 
 B)False

Question 20

A horizontal strategic alliance is between firms at different levels of the supply chain.

Accepted Answer

A) True 
 B)False

Exam 17: Relationship Marketing and Customer Relationship Management CRM

Relationship marketing views the buyer-seller relationship as equal partners, thus motivating customers to enter into a long-term cycle of repeat purchases, customer satisfaction, and profitability.

Application service providers (ASPs) monitor the activities of marketers in capturing, manipulating, and analyzing masses of consumer data so that the privacy of the data providers is not compromised.

What do databases have the capacity to do when used properly?

Clayten Technologies has set up a sales team exclusively to serve one of its clients who account for a major share of its business. What is this strategy is an example of?

Internal partnerships are the foundation of an organization and its ability to meet its commitments to external entities.

The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

What type of marketing involves the development, growth, and maintenance of cost-effective, high-value interactions with individual customers, suppliers, and other partners over time?

An added bonus of electronic data interchange (EDI) is that, in addition to automating the buying process, it has also opened new channels for gathering marketing information.

What are application service providers (ASPs)?

Marketers can use grassroots marketing approach to develop long-lasting, individual relationships with loyal customers.

In business-to-business markets, legal contracts form the basis of relationship marketing.

Strategic alliances are long-term business-to-business partnerships formed to create a competitive advantage.

The first step in measuring customer satisfaction involves comparing actual sales to forecasted sales.

A long-term relationship between a buyer and a seller is often based entirely on low prices and other financial incentives.

A horizontal strategic alliance is between firms at different levels of the supply chain.