Question 1

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

Accepted Answer

A)   National account selling
B)   Quick-response merchandising
C)   Vendor-managed selling
D)   Collaborative planning

Question 2

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.

Accepted Answer

A) True 
 B)False

Question 3

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:

Accepted Answer

A)   buzz marketing.
B)   CPFaR.
C)   internal marketing.
D)   VMI.

Question 4

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

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) application service providersH) customer relationship managementI) Web servicesJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) seller partnershipP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

What is electronic data interchange? What are its applications?

Accepted Answer

Electronic data interchange (EDI)involve...

Question 7

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

Accepted Answer

A)   Supply cluster
B)   Product network
C)   Value chain
D)   Retail cluster

Question 8

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.

Accepted Answer

A)   lateral
B)   internal
C)   seller
D)   buyer

Question 9

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

Accepted Answer

Internal marketing involves managerial a...

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)   Group polarization
B)   Vertical integration
C)   Customer desensitization
D)   Employee involvement

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A)   They are not effective in providing intangible benefits such as feedback and referrals.
B)   They cost more to serve than new customers.
C)   They provide a minor share in a company's new business.
D)   They are usually more valuable assets than new ones because they buy more.

Question 15

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

Accepted Answer

A)   Buyer partnership
B)   Seller partnership
C)   Internal partnership
D)   Lateral partnership

Question 16

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

Accepted Answer

A strategic alliance is a partnership in...

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A)   they are not effective in reducing the marketing and distribution costs for the products.
B)   the strategy needs to be thought out in advance, and everyone in the firm must be committed to it.
C)   they cannot provide a complete picture of the customers in order to understand their needs.
D)   they complicate simple business processes while trying to reorganize the focus on customer satisfaction.

Question 19

_____ 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.

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) application service providersH) customer relationship managementI) Web servicesJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) seller partnershipP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

Question 20

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

Accepted Answer

A) True 
 B)False

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedInternal marketing involves managerial a...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

_____ 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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedA strategic alliance is a partnership in...View AnswerShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What is electronic data interchange? What are its applications?

Correct AnswerverifiedElectronic data interchange (EDI)involve...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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:

Correct AnswerverifiedShow Answer

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Internal marketing involves managerial a...
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A strategic alliance is a partnership in...
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Electronic data interchange (EDI)involve...
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