Question 1

Quick-response merchandising is a just-in-time strategy that reduces the time merchandise is held in inventory,resulting in substantial cost savings.

Accepted Answer

A) True 
 B)False

Question 2

A strategic alliance is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Accepted Answer

A) True 
 B)False

Question 3

A(n)_____ is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Accepted Answer

A) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing

Question 4

As compared to happy customers,unhappy customers typically talk less about their buying experiences.

Accepted Answer

A) True 
 B)False

Question 5

Joint ventures established by alliance partners operate more flexibly and change more easily with the change in market conditions,compared to cooperative alliances.

Accepted Answer

A) True 
 B)False

Question 6

A marketing program that enables satisfied customers to spread the word about products to other consumers is called _____ marketing.

Accepted Answer

A)  grassroots 
B)  viral 
C)  frequency 
D)  affinity

Question 7

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

Accepted Answer

A) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing

Question 8

G.J Inc.,an electronic component manufacturer and supplier,has an inventory management system that stores purchase patterns and requirements of its customers.Through this system the firm decides on the amount of the product required by the buyers and automatically ships the supplies to the buyer based on a preexisting agreement.This type of inventory management system is called _____.

Accepted Answer

A)  lateral management system 
B)  vendor-managed inventory 
C)  distributive management system 
D)  symbiotic inventory

Question 9

A strategic alliance formed between firms at adjacent stages in a supply chain is considered a vertical alliance.

Accepted Answer

A) True 
 B)False

Question 10

Transaction based marketing emphasizes retaining customers over making a sale.

Accepted Answer

A) True 
 B)False

Question 11

_____ is 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) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing

Question 12

In the context of the relationship marketing continuum,the primary bond created by a second-level relationship marketing program is usually _____ in nature.

Accepted Answer

A)  social 
B)  financial 
C)  structural 
D)  notional

Question 13

A lateral partnership is a strategic relationship that involves direct buyer-seller interactions.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is true of a vertical strategic alliance created by firms in B2B markets?

Accepted Answer

A)  It is created among the firms at the same level of the supply chain. 
B)  It can only be formed between companies that serve different industry. 
C)  It is formed when firms that are at adjacent states in the supply chain. 
D)  It cannot be formed between two firms if their annual revenues are significantly different.

Question 15

The supply chain management process has no influence on the relationship of the company with the product's end users.

Accepted Answer

A) True 
 B)False

Question 16

In a salute to fans of the Olympic games,Ralph Lauren launched a complete wardrobe,inspired by the Olympics designs,for men,women,children,and infants.This is an example of _____ marketing.

Accepted Answer

A)  distributive 
B)  internal 
C)  database 
D)  affinity

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

Accepted Answer

A) True 
 B)False

Question 19

In a cooperative alliance,the partners establish a new business unit in which each takes an ownership position.

Accepted Answer

A) True 
 B)False

Question 20

The grassroots marketing approach relies on marketing strategies that are:

Accepted Answer

A)  traditional. 
B)  conventional. 
C)  expensive. 
D)  flexible.

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

Quick-response merchandising is a just-in-time strategy that reduces the time merchandise is held in inventory,resulting in substantial cost savings.

A strategic alliance is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

A(n) _____ is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

As compared to happy customers,unhappy customers typically talk less about their buying experiences.

Joint ventures established by alliance partners operate more flexibly and change more easily with the change in market conditions,compared to cooperative alliances.

A marketing program that enables satisfied customers to spread the word about products to other consumers is called _____ marketing.

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

A strategic alliance formed between firms at adjacent stages in a supply chain is considered a vertical alliance.

Transaction based marketing emphasizes retaining customers over making a sale.

_____ is a promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

In the context of the relationship marketing continuum,the primary bond created by a second-level relationship marketing program is usually _____ in nature.

A lateral partnership is a strategic relationship that involves direct buyer-seller interactions.

Which of the following is true of a vertical strategic alliance created by firms in B2B markets?

The supply chain management process has no influence on the relationship of the company with the product's end users.

In a salute to fans of the Olympic games,Ralph Lauren launched a complete wardrobe,inspired by the Olympics designs,for men,women,children,and infants.This is an example of _____ marketing.

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

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

In a cooperative alliance,the partners establish a new business unit in which each takes an ownership position.

The grassroots marketing approach relies on marketing strategies that are: