Exam 13: Building Partnering Relationships

Franco raises fish as a hobby. For the last nine years he has gone to Fins-to-You, a local pet store that specializes in tropical fish and aquarium supplies for all of his needs―from fish food to aquarium heaters to replacement fish. Which of the following terms best describes the relationship Franco has with Fins-to-You?

At which stage of the customer relationship building process will the buyer and seller pledge either implicitly or explicitly to continue the relationship for a period of time?

The market exchange is the highest level of long-term relationship that a buyer and seller can commit to.

What have strategic partners committed to when both parties spend money to improve each other's products and services?

The total potential revenue derived from a customer over an extended period of time is called:

In many parts of the world, what is required before a strategic partnership can be established?

The typical goal for market exchange selling is to maximize lifetime customer relationships.

In "In Tough Times, Can We Afford Partnerships" advises salespeople to:

What are boundary spanning employees?

Research indicates that as long as a buyer is __________________, switching is unlikely.

Which of the following statements about functional relationships is true?

Lead users face and resolve problems after the rest of the marketplace has addressed these needs.

The only stage of the relationship development process that may not occur in every relationship is the _____ phase.

What is the term used to describe a consumer's total purchase over their life?

Which of the following is the BEST example of a solo market exchange?

Relational partnerships are created explicitly for the purpose of uncovering and exploiting joint opportunities.

Common goals:

What is the first phase in the development of a partnering relationship between buyer and seller?

What type of selling relationship exists when the time horizon is short-term, the level of trust is low, and the nature of the relationship is bargaining?

Zeller's, a 205-store Canadian discount store, owes much of its success to its ability to develop _____ with its vendors. It has developed cross-functional teams with experts from the retailer and from its vendors. These teams work together to develop information systems to improve relationships between the vendor and Zeller's and to develop promotions tailored to help both the vendor and the retailer sell more.