Question 1

Which of the following stages of the relationship development process may NOT occur in a strategic partnership?

Accepted Answer

A)  Awareness 
B)  Exploration 
C)  Commitment 
D)  Dissolution 
E)  Expansion 
A)  Awareness 
B)  Exploration 
C)  Commitment 
D)  Dissolution 
E)  Expansion

Question 2

Members of successful partnerships actively work to create win-lose relationships by making commitments to the relationship.

Accepted Answer

A) True 
 B)False

Question 3

Although likability is not as important as other dimensions,salespeople should still attempt to find a common ground or interest with all buyers.

Accepted Answer

A) True 
 B)False

Question 4

A salesperson must determine which relationship type is appropriate for optimizing a customer's lifetime value.

Accepted Answer

A) True 
 B)False

Question 5

Open and honest communication is a key building block for developing successful relationships.

Accepted Answer

A) True 
 B)False

Question 6

Identify the nature of relationship between the buyer and the seller in a strategic partnership.

Accepted Answer

A)  Competition 
B)  Conflict 
C)  Accommodation 
D)  Bargaining 
E)  Coordination 
A)  Competition 
B)  Conflict 
C)  Accommodation 
D)  Bargaining 
E)  Coordination

Question 7

Bubbly Splash is a major beverage outlet in Seattle.The management takes special care in resolving customers' grievances as it knows that approximately 40 percent of its consumers have been buying its beverages without considering alternative drinks for the last ten years.Identify the loyalty shown by its customers.

Accepted Answer

A)  Vendor loyalty 
B)  Behavioral loyalty 
C)  Partial loyalty 
D)  Attitudinal loyalty 
E)  Inertia loyalty 
A)  Vendor loyalty 
B)  Behavioral loyalty 
C)  Partial loyalty 
D)  Attitudinal loyalty 
E)  Inertia loyalty

Question 8

The stage of dissolution in the relationship development process:

Accepted Answer

A)  occurs in all strategic partnerships. 
B)  occurs only during the middle phase of a relationship. 
C)  causes most damage when it occurs in the latter stages of a relationship. 
D)  results in greater exploration and commitment by both parties. 
E)  results only in the case of market exchanges. 
A)  occurs in all strategic partnerships. 
B)  occurs only during the middle phase of a relationship. 
C)  causes most damage when it occurs in the latter stages of a relationship. 
D)  results in greater exploration and commitment by both parties. 
E)  results only in the case of market exchanges.

Question 9

Which of the following statements about the effects of a successful buyer-seller relationship on organizational structure and culture is true?

Accepted Answer

A)  Only the organizational structure of the seller needs to change for a successful partnering relationship to be implemented. 
B)  The organizational structure and management provide the necessary support for the salespeople and buyers in a partnering relationship. 
C)  Local offices are not affected by partnerships created at headquarters. 
D)  It is only the sales force of a firm that is required to have an orientation to building partnerships. 
E)  Boundary-spanning employees are employees who limit their operations to their duties within the organization,rather than working with clients and vendors. 
A)  Only the organizational structure of the seller needs to change for a successful partnering relationship to be implemented. 
B)  The organizational structure and management provide the necessary support for the salespeople and buyers in a partnering relationship. 
C)  Local offices are not affected by partnerships created at headquarters. 
D)  It is only the sales force of a firm that is required to have an orientation to building partnerships. 
E)  Boundary-spanning employees are employees who limit their operations to their duties within the organization,rather than working with clients and vendors.

Question 10

Buyers perceive salespeople as sales oriented when sellers stress benefits and solutions to problems over features.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements is true of common goals?

Accepted Answer

A)  Common goals are important for the establishment of a strategic partnership. 
B)  Common goals help sustain a strategic partnership when the expected benefits are not realized. 
C)  Common goals give both members of a strategic partnership a strong incentive to pool their resources. 
D)  Common goals allow partners in a strategic relationship to focus on opportunities rather than arguing about how profits are divided between them. 
E)  All of these 
A)  Common goals are important for the establishment of a strategic partnership. 
B)  Common goals help sustain a strategic partnership when the expected benefits are not realized. 
C)  Common goals give both members of a strategic partnership a strong incentive to pool their resources. 
D)  Common goals allow partners in a strategic relationship to focus on opportunities rather than arguing about how profits are divided between them. 
E)  All of these

Question 12

Relationships have to necessarily move from solo exchange to functional relationship to relational partnership to strategic partnership.

Accepted Answer

A) True 
 B)False

Question 13

In which of the following scenarios is a transaction occurring without the buyer and the seller having a relationship?

Accepted Answer

A)  Beverly purchases a pair of sandals from a retail sales clerk. 
B)  Leon buys a vacuum cleaner from a door-to-door salesperson. 
C)  Art acquires a new Volvo from a car dealership. 
D)  Ursula hires a weekly diaper service. 
E)  None of these 
A)  Beverly purchases a pair of sandals from a retail sales clerk. 
B)  Leon buys a vacuum cleaner from a door-to-door salesperson. 
C)  Art acquires a new Volvo from a car dealership. 
D)  Ursula hires a weekly diaper service. 
E)  None of these

Question 14

The use of supplier management systems to discover current suppliers with whom partnership may be possible occurs in the commitment stage of the relationship development process.

Accepted Answer

A) True 
 B)False

Question 15

Rajesh always purchases cell phones manufactured by Telekom Inc.Thus,for Telekom,Rajesh has a very low customer lifetime value.

Accepted Answer

A) True 
 B)False

Question 16

_____ are created for the purpose of uncovering and exploiting joint opportunities.

Accepted Answer

A)  Tactical relationships 
B)  Functional relationships 
C)  Solo market transactions 
D)  Strategic partnerships 
E)  Relational partnerships 
A)  Tactical relationships 
B)  Functional relationships 
C)  Solo market transactions 
D)  Strategic partnerships 
E)  Relational partnerships

Question 17

What are the two types of customer loyalty?

Accepted Answer

There are two types of loyalty

Question 18

List the five foundational elements of strategic partnerships.

Accepted Answer

The five foundational elements

Question 19

What occurs in the expansion stage of relationship development?

Accepted Answer

The expansion stage involves efforts by

Question 20

Functional relationships are long-term market exchanges characterized by behavioral loyalty.

Accepted Answer

A) True 
 B)False

Which of the following stages of the relationship development process may NOT occur in a strategic partnership?

Members of successful partnerships actively work to create win-lose relationships by making commitments to the relationship.

Although likability is not as important as other dimensions,salespeople should still attempt to find a common ground or interest with all buyers.

A salesperson must determine which relationship type is appropriate for optimizing a customer's lifetime value.

Open and honest communication is a key building block for developing successful relationships.

Identify the nature of relationship between the buyer and the seller in a strategic partnership.

The stage of dissolution in the relationship development process:

Which of the following statements about the effects of a successful buyer-seller relationship on organizational structure and culture is true?

Buyers perceive salespeople as sales oriented when sellers stress benefits and solutions to problems over features.

Which of the following statements is true of common goals?

Relationships have to necessarily move from solo exchange to functional relationship to relational partnership to strategic partnership.

In which of the following scenarios is a transaction occurring without the buyer and the seller having a relationship?

The use of supplier management systems to discover current suppliers with whom partnership may be possible occurs in the commitment stage of the relationship development process.

Rajesh always purchases cell phones manufactured by Telekom Inc.Thus,for Telekom,Rajesh has a very low customer lifetime value.

_____ are created for the purpose of uncovering and exploiting joint opportunities.

What are the two types of customer loyalty?

List the five foundational elements of strategic partnerships.

What occurs in the expansion stage of relationship development?

Functional relationships are long-term market exchanges characterized by behavioral loyalty.

Selling and Salespeople

Ethical and Legal Issues in Selling

Buying Behavior and the Buying Process

Using Communication Principles to Build Relationships

Adaptive Selling for Relationship Building

Prospecting

Planning the Sales Call

Making the Sales Call

Strengthening the Presentation

Responding to Objections

Obtaining Commitment

Formal Negotiating

Building Long-Term Partnerships

Managing Your Time and Territory

Managing Within Your Company

Managing Your Career

Filters

Exam 13: Building Partnering Relationships

Which of the following stages of the relationship development process may NOT occur in a strategic partnership?

Members of successful partnerships actively work to create win-lose relationships by making commitments to the relationship.

Although likability is not as important as other dimensions,salespeople should still attempt to find a common ground or interest with all buyers.

A salesperson must determine which relationship type is appropriate for optimizing a customer's lifetime value.

Open and honest communication is a key building block for developing successful relationships.

Identify the nature of relationship between the buyer and the seller in a strategic partnership.

The stage of dissolution in the relationship development process:

Which of the following statements about the effects of a successful buyer-seller relationship on organizational structure and culture is true?

Buyers perceive salespeople as sales oriented when sellers stress benefits and solutions to problems over features.

Which of the following statements is true of common goals?

Relationships have to necessarily move from solo exchange to functional relationship to relational partnership to strategic partnership.

In which of the following scenarios is a transaction occurring without the buyer and the seller having a relationship?

The use of supplier management systems to discover current suppliers with whom partnership may be possible occurs in the commitment stage of the relationship development process.

Rajesh always purchases cell phones manufactured by Telekom Inc.Thus,for Telekom,Rajesh has a very low customer lifetime value.

_____ are created for the purpose of uncovering and exploiting joint opportunities.

What are the two types of customer loyalty?

List the five foundational elements of strategic partnerships.

What occurs in the expansion stage of relationship development?

Functional relationships are long-term market exchanges characterized by behavioral loyalty.

Selling and Salespeople

Ethical and Legal Issues in Selling

Buying Behavior and the Buying Process

Using Communication Principles to Build Relationships

Adaptive Selling for Relationship Building

Prospecting

Planning the Sales Call

Making the Sales Call

Strengthening the Presentation

Responding to Objections

Obtaining Commitment

Formal Negotiating

Building Long-Term Partnerships

Managing Your Time and Territory

Managing Within Your Company

Managing Your Career

Filters