Exam 13: Building Partnering Relationships

Create an example to explain the concept of customer lifetime value.

How does a salesperson demonstrate competence to a customer?

Baxter Healthcare is a leading supplier of hospital products. It has entered into a strategic partnership with many of the hospitals it serves. Baxter supplies them with one-day delivery service of quality products and inventory management assistance. In return, the hospitals give Baxter all of their business. The foundation of their relationships is trust, which is based on:

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

The salesperson for Fashion Seal Uniforms is telling the owner of fifteen retirement homes how important it is that caregivers have clean and attractive uniforms that will withstand countless hot water washes. The salesperson has brought several styles of uniforms that have been washed hundreds of times to show how well his company's uniforms are made. The owner of the retirement homes tells the salesperson that she is planning on opening one new center every six months for the next ten years and will need a lot of uniforms. Then the owner agrees to buy six, but with no commitment to extend the relationship. This is an example of which stage of the relationship development process?

_____ are the long-term business relationships in which the partners make significant investments to improve the profitability of both parties in the relationship.

The key to the development of successful, long-term customer relationships is:

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

Carla's responsibilities include customers, vendors, and finance. Carla is a(n):

Zero Zone, Inc. manufactures and sells display refrigeration and freezer units to supermarkets. When the supermarket manager called one of Zero Zone's salespeople and told him that his Zero Zone rear load refrigeration display unit needed to be defrosted about three times more than was normal, the salesperson immediately cancelled his dinner plans and drove to the market. There the salesperson worked for two hours installing a new oversized coil to fix the problem. This example illustrates which factor needed for the development of mutual trust?

For the customer, _____ is the critical issue in a market exchange.

J.B. Hunt Transportation sells its delivery service across the United States. The trucking firm is using IBM-designed on-board computers in its trucks so its drivers can send and receive messages, and store information about their loads, including estimated time of arrival. The system also allows the home office to monitor driving speed and engine information. J.B. Hunt is using technology to:

Which of the following statements about the relationships between buyers and sellers is true?

The salesperson for Spectrum Pool Products sent the buyer for a chain of store that was one of his biggest customers a newspaper clipping of the buyer's son showing the boy after he hit a grand slam in a Little League game and a congratulatory card. Which of the following factors involved in developing trust would be most affected by this gesture?

The nature of the relationship between the salesperson and his or her customer in a strategic partnership can be described as:

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

Strategic partnerships do not necessarily mean __________________ for either buyer or seller.

What type of sales approach has been shown to improve both customer retention and firm profitability?

When salespeople and buyers trust each other, they:

Corning's Erwin, New York plant produces ceramic parts. Since entering a strategic partnership with a cardboard box manufacturer, it has saved about $10 million, and the box manufacturer has tripled its sales. According to the text, one of the reasons a long-term relationship like this would survive for so long is the: