Question 1

In addition to examining the lifetime value of a customer and the payback from a customer relationship, what other techniques can a firm use to evaluate its relationship marketing programs?

Accepted Answer

The answer of In addition to examining the lifetime value...

Question 2

The amount of value a firm brings to a partnership has no bearing on the strength and longevity of the relationship.

Accepted Answer

A) True 
 B)False

Question 3

Strategic alliances typically include only the largest firms in any industry because of the amount of capital required to invest in shared facilities.

Accepted Answer

A) True 
 B)False

Question 4

Explain grassroots marketing.

Accepted Answer

The answer of Explain grassroots marketing....

Question 5

An internal partnership consists of a relationship that involves long-term exchanges of goods or services in return for cash.

Accepted Answer

A) True 
 B)False

Question 6

Columbia is a sporting goods store and Jeep is an automobile. What is the Columbia edition of the Jeep Liberty an example of?

Accepted Answer

A)  co-branding 
B)  co-marketing 
C)  lateral partnership 
D)  internal partnership

Question 7

At the second level of the development of a buyer-seller relationship, what is the interaction focused on?

Accepted Answer

A)  price and other financial incentives 
B)  personalizing the relationship by reaching out to the customer with social interaction 
C)  transforming structurally into an interdependent partnership 
D)  analyzing data from the initial purchase to determine the chance of a repeat sale

Question 8

Which statement best describes relationship marketing?

Accepted Answer

A)  It focuses on short-term, one-time exchanges with limited communications. 
B)  Its only goal is "sell something-now." 
C)  It views customers as equal partners in buyer-seller transactions. 
D)  It involves little or no ongoing relationship between the buyers and sellers.

Question 9

What makes customer relationship management possible?

Accepted Answer

A)  the loyalty of consumers to businesses that manufacture their favourite products 
B)  the adoption of the marketing concept by a majority of businesses worldwide 
C)  the technological advances that result in strategic integration 
D)  the increasing demands made by the legal system on business operators

Question 10

Point-of-sale register scanners, customer opinion surveys, and sweepstakes entry forms are information sources that organizations can use to create and add to their database.

Accepted Answer

A) True 
 B)False

Question 11

Retailers using electronic data interchange can implement quick-response merchandising strategies or just-in-time strategies that reduce the time they hold merchandise in inventory.

Accepted Answer

A) True 
 B)False

Question 12

Companies that excel at satisfying customers provide their employees with the necessary tools to address customer requests and problems in a timely manner.

Accepted Answer

A) True 
 B)False

Question 13

The Best Buy Rewards Program tracks customer sales and periodically issues coupons to customers based on prior purchases. What kind of marketing is this program classified as?

Accepted Answer

A)  affinity 
B)  database 
C)  user segmentation 
D)  frequency

Question 14

The service department of an automobile firm calls its customers regularly after service to check the performance of the car. This is an example of the first level of interaction in the relationship marketing continuum.

Accepted Answer

A) True 
 B)False

Question 15

Assume that Ford has established a strategic alliance with Michelin to design an exclusive line of tires for Ford automobiles. The Ford-Michelin strategic alliance would be a horizontal alliance.

Accepted Answer

A) True 
 B)False

Question 16

Word-of-mouth advertising via technological devices is referred to as viral marketing.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is an example of a typical third-level relationship marketing program?

Accepted Answer

A)  a newspaper ad trying to stimulate sales of health foods 
B)  a frequent-user or frequent-flyer program 
C)  an extensive training program for retailers of a manufacturer's goods 
D)  a giveaway of tickets to a trade show

Question 18

The sale of a product to a customer via a vending machine is typical of a transaction-based relationship.

Accepted Answer

A) True 
 B)False

Question 19

What is a characteristic of relationship marketing?

Accepted Answer

A)  the short-term goal of creating an immediate sale 
B)  orientation toward added value through superior customer service 
C)  making purchases based on promotions and other inducements 
D)  limited communication between buyer and seller

Question 20

Database marketing involves the use of information technology to analyze data about customers and their transactions.

Accepted Answer

A) True 
 B)False

Exam 17: Relationship Marketing and Customer Relationship Management CRM

In addition to examining the lifetime value of a customer and the payback from a customer relationship, what other techniques can a firm use to evaluate its relationship marketing programs?

The amount of value a firm brings to a partnership has no bearing on the strength and longevity of the relationship.

Strategic alliances typically include only the largest firms in any industry because of the amount of capital required to invest in shared facilities.

Explain grassroots marketing.

An internal partnership consists of a relationship that involves long-term exchanges of goods or services in return for cash.

Columbia is a sporting goods store and Jeep is an automobile. What is the Columbia edition of the Jeep Liberty an example of?

At the second level of the development of a buyer-seller relationship, what is the interaction focused on?

Which statement best describes relationship marketing?

What makes customer relationship management possible?

Point-of-sale register scanners, customer opinion surveys, and sweepstakes entry forms are information sources that organizations can use to create and add to their database.

Retailers using electronic data interchange can implement quick-response merchandising strategies or just-in-time strategies that reduce the time they hold merchandise in inventory.

Companies that excel at satisfying customers provide their employees with the necessary tools to address customer requests and problems in a timely manner.

The Best Buy Rewards Program tracks customer sales and periodically issues coupons to customers based on prior purchases. What kind of marketing is this program classified as?

The service department of an automobile firm calls its customers regularly after service to check the performance of the car. This is an example of the first level of interaction in the relationship marketing continuum.

Assume that Ford has established a strategic alliance with Michelin to design an exclusive line of tires for Ford automobiles. The Ford-Michelin strategic alliance would be a horizontal alliance.

Word-of-mouth advertising via technological devices is referred to as viral marketing.

Which of the following is an example of a typical third-level relationship marketing program?

The sale of a product to a customer via a vending machine is typical of a transaction-based relationship.

What is a characteristic of relationship marketing?

Database marketing involves the use of information technology to analyze data about customers and their transactions.