Exam 13: Building Partnering Relationships

Name one type of sales approach that has been shown to improve both customer retention and firm profitability.

Identify a true statement about functional relationships.

For many years,thousands of loyal fans followed the metal band Grateful Dead around the country,rarely missing a concert.These fans,known as "Dead Heads," were _____ loyal toward the band.

The buyer and the seller in a functional relationship typically pursue their own self-interests because chances of them doing business together are low.

What different types of relationships can exist between buyers and sellers?

Pyro Electronics was the only supplier of Torin Auto,and both companies wanted to do more business together.Pyro Electronics worked on its total quality management system and acquired more business,while Torin developed a just-in-time inventory management system to deliver goods timely to Pyro Electronics.Pyro Electronics and Torin have developed a _____.

Which of the following serves as a foundation for a successful,long-term relationship?

Henry is a salesperson for Verre House Inc. ,a manufacturer of glass bottles.Based on a market survey,he suggested that his customer H.J.Ketchup Company redesign its ketchup bottle.This change would help improve bottle-filling efficiency and make the bottle lighter.H.J.Ketchup Company readily implemented Henry's suggestion,and it enjoyed an increase in its savings.This change also helped Verre House Inc.minimize its material wastage.Identify the relationship between Henry and H.J.Ketchup Company.

Without _____,behavioral loyalty cannot develop.

When salespeople and buyers trust each other,they:

Which of the following statements is true of customer lifetime value?

Customer lifetime value is the combined total of all future sales.

Zero Zone Inc.manufactures and sells display refrigeration and freezer units to supermarkets.Its salespeople use federal government research information and trade data to explain to customers why 3-inch-thick CFC-free urethane insulation is important for keeping products fresh.Such interactions illustrate the salespeople's _____.

Identify a true statement about strategic partnerships.

In the context of organization support,how do reward systems help in fostering good relationships?

In the _____ stage of the relationship development process,the owner of several retirement centers has agreed that Fashion Seal Uniforms will be the only supplier of uniforms for her employees.Andy,the salesperson for Fashion Seal,has agreed to make some modifications in the uniforms to suit the needs of the retirement center personnel.Both parties view this as a long-term relationship built on mutual trust.

Training is vital in helping salespeople identify ways to make it easier for customers to do business with them.

Which of the following is NOT one of the factors that constitute trust?

What is supplier relationship management?

On the third Wednesday of every month,LuEllen's Barbecue Shack orders four pickup truckloads of hickory for slow-cooking meat.LuEllen always orders the hickory from Samson Wood Products Company because they deliver on time and she likes the quality.Moreover,she has a high level of trust in them.The buyer-seller relationship between LuEllen and Samson Wood Products Company is an example of a: