Exam 3: Customer Relationship Management Crm and Building Partnerships

Transactional selling is based more on inter-organizational collaboration than on arm's-length aggressive bargaining and are not viewed as competitive. In fact, decision making often is collaborative, and firms share managerial resources and expertise when solving key strategic and tactical issues.

Customer loyalty is a function of which of the following components-customer share and customer commitment.

Artificial intelligence refers to cognitive-like functions such as problem solving and learning that are performed by computer systems.

Companies focus on processes allowing large-scale, efficient, and economic production is known as __________.

In __________ no long-term commitment or loyalty is involved, and little value is assigned to understanding long-run buyer needs and expectations.

Soda-stream analysis draws conclusions based on the path a customer takes while navigating a company web site.

The adoption of sales force automation (SFA) means salespeople will never be needed anymore.

Relational governance includes arrangements for sharing information and tasks between the buying and selling firm, but it does not include specific obligations for each party. There is a written commitment between buyer and seller, but the agreement allows greater flexibility than a contractual governance structure does.

All types of exchanges are accompanied by some type of governance. Strategic partnership is controlled by market forces.

Recognition, by both buyer and seller, that each transaction is merely one in a series of purchase agreements between a buyer and a seller is known as transactional selling.

Companies focus on processes allowing large-scale, efficient, and economic production is known as market orientation.

In transactional selling no long-term commitment or loyalty is involved and little value is assigned to understanding long-run buyer needs and expectations.

__________ represents the proportion of resources a customer spends with one among a set of competing suppliers.

Push technology represents the proportion of e-mail sent that is successfully delivered to the intended recipient.

__________ is at the low end of the relationship involvement (exchange) continuum.

All types of exchanges are accompanied by some type of governance. Transactional selling is governed by a mechanism known as relational governance.

In transactional selling firms seek to develop profitable, ongoing relationships with customers by delivering high value and creating a sense of loyalty as well as a commitment to providing exceptional customer service.

A database warehouse refers to a computerized process for analyzing customer databases in a way that allows more effective selling by tailoring product and promotional offerings to a specific customer's sales patterns.

__________ involves arrangements for sharing information and tasks between the buying and selling firm, but falls short of spelling out specific obligations for each party.

Niche marketing involves matching individual products with individual customers.