Question 1

Which of the following is NOT a phase of relationship development for a seller and a buyer?

Accepted Answer

A) awareness 
B) exploration 
C) commitment 
D) attraction 
E) expansion 
A) awareness 
B) exploration 
C) commitment 
D) attraction 
E) expansion

Question 2

As Azi traveled across the state of Tennessee, he stopped and bought gas, a soda and a bag of corn chips at a small convenience store that he will probably never visit again. Azi engaged in a:

Accepted Answer

A) market exchange. 
B) functional relationship. 
C) straight rebuy exchange. 
D) partnering relationship. 
E) modified rebuy exchange. 
A) market exchange. 
B) functional relationship. 
C) straight rebuy exchange. 
D) partnering relationship. 
E) modified rebuy exchange.

Question 3

What are the two types of customer loyalty?

Accepted Answer

behavioral

Question 4

How is a market exchange relationship a win-lose relationship?

Accepted Answer

In a market exchange, both parties are n

Question 5

Common goals:

Accepted Answer

A) are important for all market exchanges. 
B) inevitably cause a strategic partnership to terminate when expected benefits are not realized. 
C) give both members of the strategic partnership a strong incentive to pool their resources. 
D) often cause partners in a strategic relationship to argue about how resources are used and profits are divided up. 
E) are accurately described by all of the above 
A) are important for all market exchanges. 
B) inevitably cause a strategic partnership to terminate when expected benefits are not realized. 
C) give both members of the strategic partnership a strong incentive to pool their resources. 
D) often cause partners in a strategic relationship to argue about how resources are used and profits are divided up. 
E) are accurately described by all of the above

Question 6

In the ______ stage of the relationship development process, the owner of several retirement centers has agreed that Fashion Seal Uniforms will be the only uniforms worn by her more than 300 employees. The salesperson for Fashion Seal has agreed to make some modifications in the uniforms to suit the needs of the retirement center personnel. Both participants view this as a long-term relationship built on mutual trust.

Accepted Answer

A) awareness 
B) exploration 
C) commitment 
D) attraction 
E) expansion 
A) awareness 
B) exploration 
C) commitment 
D) attraction 
E) expansion

Question 7

Which of the following statements about strategic partnerships is true?

Accepted Answer

A) Strategic partnerships are not found anywhere outside the U.S. 
B) Strategic partnerships are created for the purpose of uncovering and exploiting joint opportunities. 
C) Strategic partnerships typically have a shorter time horizon than functional relationships. 
D) Strategic partnerships have lower levels of risk than functional relationships. 
E) The strategic partnership can best be described as competitive. 
A) Strategic partnerships are not found anywhere outside the U.S. 
B) Strategic partnerships are created for the purpose of uncovering and exploiting joint opportunities. 
C) Strategic partnerships typically have a shorter time horizon than functional relationships. 
D) Strategic partnerships have lower levels of risk than functional relationships. 
E) The strategic partnership can best be described as competitive.

Question 8

In which type of salesperson-customer relationship will the time horizon be the shortest?

Accepted Answer

A) market exchange 
B) functional relationship 
C) straight rebuy exchange 
D) partnering relationship 
E) modified rebuy exchange 
A) market exchange 
B) functional relationship 
C) straight rebuy exchange 
D) partnering relationship 
E) modified rebuy exchange

Question 9

A few years ago, the salesperson for a glass bottle manufacturer suggested to the H.J. Heinz Company that it needed to redesign its catsup bottle to improve yields on the bottle-filling line and to make the bottle lighter. Because Heinz's purchasing agent and the salesperson for the glass bottle manufacturer were engaged in ___, Heinz readily implemented the salesperson's suggestions and saw increased savings.

Accepted Answer

A) reciprocal partnership 
B) buyer-seller alliance 
C) strategic partnership 
D) win-lose partnership 
E) hierarchical relationship 
A) reciprocal partnership 
B) buyer-seller alliance 
C) strategic partnership 
D) win-lose partnership 
E) hierarchical relationship

Question 10

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

Accepted Answer

A) autocratic leadership 
B) a profit-orientation 
C) a simple, easy-to-sell, commodity-type product 
D) common goals 
E) all of the above 
A) autocratic leadership 
B) a profit-orientation 
C) a simple, easy-to-sell, commodity-type product 
D) common goals 
E) all of the above

Question 11

Strategic partnerships are created to:

Accepted Answer

A) get lower prices. 
B) make more immediate sales. 
C) create a negotiation platform. 
D) uncover and exploit joint opportunities. 
E) persuade both parties that each will get "the bigger piece of the pie." 
A) get lower prices. 
B) make more immediate sales. 
C) create a negotiation platform. 
D) uncover and exploit joint opportunities. 
E) persuade both parties that each will get "the bigger piece of the pie."

Question 12

The sum of the purchases a customer makes over their entire life is equimarginal value of a customer.

Accepted Answer

A) True 
 B)False

Question 13

What is the primary goal of long-term relationship selling?

Accepted Answer

The answer of What is the primary goal of long-term...

Question 14

_____ are long-term market exchanges in which the buyer purchases out of habit or routine.

Accepted Answer

A) Strategic partnerships 
B) Tactical relationships 
C) Relational partnerships 
D) Functional relationships 
E) Routine partnerships 
A) Strategic partnerships 
B) Tactical relationships 
C) Relational partnerships 
D) Functional relationships 
E) Routine partnerships

Question 15

Corina almost always shops at Gas-N-Go. She finds it to be easy to access from the highway, likes the people and receives special discounts as a frequent customer. Corina is less likely to shop around for her next purchase because Gas-N-Go satisfies Corina thereby:

Accepted Answer

A) reducing the gas station's profit margin. 
B) maximizing Corina's solo exchange profit. 
C) increasing Corina's buyer's profit. 
D) reinforcing a functional relationship. 
E) producing an exploratory relationship. 
A) reducing the gas station's profit margin. 
B) maximizing Corina's solo exchange profit. 
C) increasing Corina's buyer's profit. 
D) reinforcing a functional relationship. 
E) producing an exploratory relationship.

Question 16

When salespeople and buyers trust each other, they:

Accepted Answer

A) are more likely to monitor each other's daily activities. 
B) find more opportunities available to take advantage of each other. 
C) communicate more efficiently with each other. 
D) seldom achieve mutually beneficial outcomes. 
E) do not engage in risky behavior. 
A) are more likely to monitor each other's daily activities. 
B) find more opportunities available to take advantage of each other. 
C) communicate more efficiently with each other. 
D) seldom achieve mutually beneficial outcomes. 
E) do not engage in risky behavior.

Which of the following is NOT a phase of relationship development for a seller and a buyer?

As Azi traveled across the state of Tennessee, he stopped and bought gas, a soda and a bag of corn chips at a small convenience store that he will probably never visit again. Azi engaged in a:

What are the two types of customer loyalty?

How is a market exchange relationship a win-lose relationship?

Common goals:

Which of the following statements about strategic partnerships is true?

In which type of salesperson-customer relationship will the time horizon be the shortest?

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

Strategic partnerships are created to:

The sum of the purchases a customer makes over their entire life is equimarginal value of a customer.

What is the primary goal of long-term relationship selling?

_____ are long-term market exchanges in which the buyer purchases out of habit or routine.

Corina almost always shops at Gas-N-Go. She finds it to be easy to access from the highway, likes the people and receives special discounts as a frequent customer. Corina is less likely to shop around for her next purchase because Gas-N-Go satisfies Corina thereby:

When salespeople and buyers trust each other, they:

Selling and Sales-People

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

Strength-Ening 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 is NOT a phase of relationship development for a seller and a buyer?

As Azi traveled across the state of Tennessee, he stopped and bought gas, a soda and a bag of corn chips at a small convenience store that he will probably never visit again. Azi engaged in a:

What are the two types of customer loyalty?

How is a market exchange relationship a win-lose relationship?

Common goals:

Which of the following statements about strategic partnerships is true?

In which type of salesperson-customer relationship will the time horizon be the shortest?

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

Strategic partnerships are created to:

The sum of the purchases a customer makes over their entire life is equimarginal value of a customer.

What is the primary goal of long-term relationship selling?

_____ are long-term market exchanges in which the buyer purchases out of habit or routine.

Corina almost always shops at Gas-N-Go. She finds it to be easy to access from the highway, likes the people and receives special discounts as a frequent customer. Corina is less likely to shop around for her next purchase because Gas-N-Go satisfies Corina thereby:

When salespeople and buyers trust each other, they:

Selling and Sales-People

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

Strength-Ening 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