Question 1

Explain cobranding and comarketing.Give an example of each.

Accepted Answer

Cobranding joins two strong brand names,...

Question 2

What are the problems associated with customer relationship management systems?

Accepted Answer

The problems associated with customer re...

Question 3

Proactive methods a firm might use to assess customer satisfaction would include:

Accepted Answer

A)   visiting, calling, or mailing written surveys to clients.
B)   setting up customer service helplines to receive customer complaints.
C)   offering gifts and reward points to appease a dissatisfied customer.
D)   quickly replacing defective products with new products after receiving complaints from customers.

Question 4

What are application service providers (ASPs)? Explain with an example,how ASPs assist marketers in building relationships with the customers.

Accepted Answer

Application service providers (ASPs)assi...

Question 5

Differentiate between transaction-based marketing and relationship marketing.

Accepted Answer

In transaction-based marketing,buyer and...

Question 6

The use of information technology to analyze information about customers and their transactions is referred to as _____ marketing.

Accepted Answer

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

Question 7

How can firms build customer loyalty?

Accepted Answer

Firms can build customer loyalty by:
1)u...

Question 8

Many grocery chains require customers to have a membership card in order to receive sale prices or other discounts.These grocery chains are practicing database marketing.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the various ways in which database marketing can help a company to build relationships with the customers.

Accepted Answer

Database marketing is a particularly eff...

Question 10

_____ focuses on a company's best customers with the goal of increasing their motivation to buy even more of the same or other products from the seller by rewarding them with cash,rebates,or other premiums.

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 11

The term _____ describes the turnover in a company's customer base.

Accepted Answer

A)   customer win-back
B)   customer lifetime value
C)   customer distribution pattern
D)   customer churn

Question 12

Relationship marketing views customers as equal partners in buyer-seller transactions.

Accepted Answer

A) True 
 B)False

Question 13

Explain how interactive television helps marketers to collect data required for database marketing.

Accepted Answer

Interactive television refers to a telev...

Question 14

In the context of the relationship marketing continuum,which of the following is a drawback associated with the efforts that focus on pricing and other financial incentives to attract customers?

Accepted Answer

A)   It makes advertising and promotional expenses worthless.
B)   It leads to hostile relationships with the suppliers.
C)   It does not encourage creativity in advertising.
D)   It is least likely to lead to a long-term relationship.

Question 15

Customers prefer to have continuing relationships with businesses or suppliers because:

Accepted Answer

A)   it helps the consumers in the process of benchmarking.
B)   by nature, customers are resistant to change and prefer preexisting relationships with businesses.
C)   the decision-making process becomes easier with the reduction in the number of choices.
D)   most businesses have low switching costs which make them attractive to have continued relationships with.

Question 16

With reference to the relationship marketing continuum,which of the following is an example of a typical third-level relationship marketing program?

Accepted Answer

A)   A health-awareness campaign organized by a food-supplement manufacturer
B)   A frequent flyer program introduced by an airline
C)   A courier company enabling its users to track the status of their deliveries on its website
D)   A company offering a product at a discounted price

Question 17

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 18

A cooperative arrangement in which two businesses jointly market each other's products is called _____.

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 19

_____ gathers volunteers to try products and then relies on them to talk about their experiences with friends and colleagues.

Accepted Answer

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

Question 20

Alken Technologies has a support team that is dedicated to provide sales and service to its largest customers to pay attention to their special needs.This marketing technique used by Alken to show commitment to its customers,is referred to as internal marketing.

Accepted Answer

A) True 
 B)False

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

In the context of the relationship marketing continuum,which of the following is a drawback associated with the efforts that focus on pricing and other financial incentives to attract customers?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

How can firms build customer loyalty?

Correct AnswerverifiedFirms can build customer loyalty by:1)u...View AnswerShow Answer

Discuss the various ways in which database marketing can help a company to build relationships with the customers.

Correct AnswerverifiedDatabase marketing is a particularly eff...View AnswerShow Answer

Explain how interactive television helps marketers to collect data required for database marketing.

Correct AnswerverifiedInteractive television refers to a telev...View AnswerShow Answer

Customers prefer to have continuing relationships with businesses or suppliers because:

Correct AnswerverifiedShow Answer

The term _____ describes the turnover in a company's customer base.

Correct AnswerverifiedShow Answer

Differentiate between transaction-based marketing and relationship marketing.

Correct AnswerverifiedIn transaction-based marketing,buyer and...View AnswerShow Answer

Proactive methods a firm might use to assess customer satisfaction would include:

Correct AnswerverifiedShow Answer

_____ focuses on a company's best customers with the goal of increasing their motivation to buy even more of the same or other products from the seller by rewarding them with cash,rebates,or other premiums.

Correct AnswerverifiedShow Answer

Relationship marketing views customers as equal partners in buyer-seller transactions.

Correct AnswerverifiedShow Answer

Alken Technologies has a support team that is dedicated to provide sales and service to its largest customers to pay attention to their special needs.This marketing technique used by Alken to show commitment to its customers,is referred to as internal marketing.

Correct AnswerverifiedShow Answer

_____ gathers volunteers to try products and then relies on them to talk about their experiences with friends and colleagues.

Correct AnswerverifiedShow Answer

Explain cobranding and comarketing.Give an example of each.

Correct AnswerverifiedCobranding joins two strong brand names,...View AnswerShow Answer

What are application service providers (ASPs)? Explain with an example,how ASPs assist marketers in building relationships with the customers.

Correct AnswerverifiedApplication service providers (ASPs)assi...View AnswerShow Answer

With reference to the relationship marketing continuum,which of the following is an example of a typical third-level relationship marketing program?

Correct AnswerverifiedShow Answer

The use of information technology to analyze information about customers and their transactions is referred to as _____ marketing.

Correct AnswerverifiedShow Answer

A cooperative arrangement in which two businesses jointly market each other's products is called _____.

Correct AnswerverifiedShow Answer

What are the problems associated with customer relationship management systems?

Correct AnswerverifiedThe problems associated with customer re...View AnswerShow Answer

Many grocery chains require customers to have a membership card in order to receive sale prices or other discounts.These grocery chains are practicing database marketing.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Firms can build customer loyalty by:
1)u...
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Correct Answer
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Database marketing is a particularly eff...
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Correct Answer
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Interactive television refers to a telev...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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In transaction-based marketing,buyer and...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Cobranding joins two strong brand names,...
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Application service providers (ASPs)assi...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The problems associated with customer re...
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Correct Answer
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