Question 1

A food manufacturing company that has just entered into the market is trying to attract potential customers through marketing strategies that are unconventional,nontraditional,and extremely flexible.The company has a relatively small budget for marketing its products.Which of the following marketing strategies is most likely being used by this company?

Accepted Answer

A)   Affinity marketing
B)   Frequency marketing
C)   Grassroots marketing
D)   Viral marketing

Question 2

Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.

Accepted Answer

A)   rate of customer coverage
B)   customer turnover rate
C)   lifetime value of a customer
D)   net customer yield

Question 3

A video renting outlet offers free movies for customers,if they rent a certain number of movies within a specified time periods,in order to encourage them to spend more on renting movies from the outlet.This type of marketing strategy is an example of _____.

Accepted Answer

A)   frequency marketing
B)   viral marketing
C)   internal marketing
D)   buzz marketing A

Question 4

_____ involves buyer seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.

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

Research alliances between for-profit firms and colleges and universities are examples of lateral partnerships.

Accepted Answer

A) True 
 B)False

Question 6

_____ are platform-independent information exchange systems that use the Internet to allow interaction between the firms.

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 7

The term customer relationship management refers to a combination of strategies and tools that attempts to:

Accepted Answer

A)   create good relationships between all wholesalers and/or retailers in the distribution channel.
B)   retain customers by offering lower prices on the purchase of specific products or services.
C)   develop a network of interconnected businesses involved in the ultimate provision of products and services required by end customers.
D)   reorient an entire organization to a concentrated focus on satisfying customers.

Question 8

A successful customer relationship management system reorganizes the business processes to deliver superior value to the customers by:

Accepted Answer

A)   decentralizing the marketing data.
B)   bringing down a firm's reliance on expensive word-of-mouth marketing.
C)   expanding the response time for customer queries to increase their satisfaction.
D)   empowering customers to find information they need to manage their own orders.

Question 9

_____ are marketing efforts that connect directly with existing and potential customers through nonmainstream channels.

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 10

The customer lifetime for a consumer product,such as microwave,will be longer compared to that of expensive products such as automobiles.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

When partners in a strategic alliance form a new business unit in which each takes an ownership position,they have created a:

Accepted Answer

A)   joint venture.
B)   collusion organization.
C)   development team.
D)   merged organization.

Question 13

The use of national account selling technique helps a business to strengthen its buyer-seller relationship.

Accepted Answer

A) True 
 B)False

Question 14

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 15

Which of the following marketing exchanges is most likely to be transaction-based?

Accepted Answer

A)   Golf club membership
B)   Buying property from a real estate agent
C)   Medical care for a person with a chronic illness
D)   Annual service contract with a lawn and garden company

Question 16

_____ is a combination of strategies and tools that drives relationship programs,reorienting the entire organization to a concentrated focus on satisfying consumers.

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 17

Which of the following is true of 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. C

Question 18

In the context of the relationship marketing continuum,the first-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

Accepted Answer

A) True 
 B)False

Question 19

Clayten technologies has set up a sales team exclusively to serve one of its clients who account for a major share of its business.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. D

Question 20

The term "internal partnership" refers to the relationship of an organization that involves:

Accepted Answer

A)   customers within the organization.
B)   competitors who form a monopoly.
C)   partner firms in the supply chain.
D)   ultimate customers who are the end users of the product.

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

Correct Answer
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Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.

Correct Answer
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A video renting outlet offers free movies for customers,if they rent a certain number of movies within a specified time periods,in order to encourage them to spend more on renting movies from the outlet.This type of marketing strategy is an example of _____.

Correct Answer
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A

_____ involves buyer seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.

Correct Answer
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Research alliances between for-profit firms and colleges and universities are examples of lateral partnerships.

Correct Answer
verified

_____ are platform-independent information exchange systems that use the Internet to allow interaction between the firms.

Correct Answer
verified

The term customer relationship management refers to a combination of strategies and tools that attempts to:

Correct Answer
verified

A successful customer relationship management system reorganizes the business processes to deliver superior value to the customers by:

Correct Answer
verified

_____ are marketing efforts that connect directly with existing and potential customers through nonmainstream channels.

Correct Answer
verified

The customer lifetime for a consumer product,such as microwave,will be longer compared to that of expensive products such as automobiles.

Correct Answer
verified

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

Correct Answer
verified

When partners in a strategic alliance form a new business unit in which each takes an ownership position,they have created a:

Correct Answer
verified

The use of national account selling technique helps a business to strengthen its buyer-seller relationship.

Correct Answer
verified

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

Correct Answer
verified

Which of the following marketing exchanges is most likely to be transaction-based?

Correct Answer
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_____ is a combination of strategies and tools that drives relationship programs,reorienting the entire organization to a concentrated focus on satisfying consumers.

Correct Answer
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Which of the following is true of relationship marketing?

Correct Answer
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C

In the context of the relationship marketing continuum,the first-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

Correct Answer
verified

Clayten technologies has set up a sales team exclusively to serve one of its clients who account for a major share of its business.This strategy is an example of:

Correct Answer
verified
D

The term "internal partnership" refers to the relationship of an organization that involves:

Correct Answer
verified

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

Correct AnswerverifiedShow Answer

Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.

Correct AnswerverifiedShow Answer

A video renting outlet offers free movies for customers,if they rent a certain number of movies within a specified time periods,in order to encourage them to spend more on renting movies from the outlet.This type of marketing strategy is an example of _____.

Correct AnswerverifiedA

_____ involves buyer seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.

Correct AnswerverifiedShow Answer

Research alliances between for-profit firms and colleges and universities are examples of lateral partnerships.

Correct AnswerverifiedShow Answer

_____ are platform-independent information exchange systems that use the Internet to allow interaction between the firms.

Correct AnswerverifiedShow Answer

The term customer relationship management refers to a combination of strategies and tools that attempts to:

Correct AnswerverifiedShow Answer

A successful customer relationship management system reorganizes the business processes to deliver superior value to the customers by:

Correct AnswerverifiedShow Answer

_____ are marketing efforts that connect directly with existing and potential customers through nonmainstream channels.

Correct AnswerverifiedShow Answer

The customer lifetime for a consumer product,such as microwave,will be longer compared to that of expensive products such as automobiles.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When partners in a strategic alliance form a new business unit in which each takes an ownership position,they have created a:

Correct AnswerverifiedShow Answer

The use of national account selling technique helps a business to strengthen its buyer-seller relationship.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following marketing exchanges is most likely to be transaction-based?

Correct AnswerverifiedShow Answer

_____ is a combination of strategies and tools that drives relationship programs,reorienting the entire organization to a concentrated focus on satisfying consumers.

Correct AnswerverifiedShow Answer

Which of the following is true of relationship marketing?

Correct AnswerverifiedC

In the context of the relationship marketing continuum,the first-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

Correct AnswerverifiedShow Answer

Clayten technologies has set up a sales team exclusively to serve one of its clients who account for a major share of its business.This strategy is an example of:

Correct AnswerverifiedD

The term "internal partnership" refers to the relationship of an organization that involves:

Correct AnswerverifiedShow Answer

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A

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C

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D

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