Exam 3: Customer Relationship Management Crm and Building Partnerships

__________represents an individual's selective perception of the worth of some activity, object, or idea.

Transactional selling is characterized by short-term customer needs. Sales reps make periodic sales calls, with high-volume customers receiving more frequent visits than low-volume customers.

Sales managers in mass-marketing firms concentrate on moving large quantities of products through traditional distribution channels that allow for economical shipping, such as trucking and railroad freight.

CRM software converts information into data that can be used in solving a sales manager's problem refers to CRM intelligence.

A systematic integration of information, technology, and human resources, all oriented toward (a) providing maximum value to customers and (b) maximizing the value obtained from customers is known as __________.

A systematic integration of information, technology, and human resources, all oriented toward (1) providing maximum value to customers and (2) maximizing the value obtained from customers is known as CRM.

__________ focuses on using information to improve internal efficiencies.

Which of the following statements about customer relationship management is not true:

Data marketing is an electronic storage center containing data records from diverse information systems that are shared across all functional departments.

Differentiated marketers and one-to-one marketers prescribe to the philosophy of __________ since their products must closely match consumer desires or a competitor will move in to better meet the demand.

A pattern of controlling and perhaps acquiring assets and resources at different levels of the marketing channel is known as governance.

In __________ buyers and sellers participate in exchanges many times over a period of years, they negotiate prices and other terms each time an exchange takes place and the exchange does not require high trust levels.

Sets of customers who have something in common refers to __________.

In __________ if customers have a bad experience, they simply exclude the selling company from the consideration set next time. Selling firms with this orientation generally have to touch large numbers of customers to generate business, thus risk is reduced because the selling firm is less dependent on any one customer or a small number of customers.

___________ is a closely related term that can be defined as the ability for computer systems to take actions without being specifically programed to perform that action.

In strategic partnerships if customers have a bad experience, they simply exclude the selling company from the consideration set next time. Selling firms with this orientation generally have to touch large numbers of customers to generate business, thus risk is reduced because the selling firm is less dependent on any one customer or a small number of customers.

All types of exchanges are accompanied by some type of governance. Relational selling is governed by contracts.

One fact of all relationships is that sometimes one firm may take advantage of another firm, which is known as opportunistic behavior.

A __________ salesperson is motivated primarily by matching up customers with products that best address their needs.

__________ represents the bonding, or affective attachment, between a customer and a sales firm.