Exam 17: TB Boone 3Ce final

What kind of commitment is necessary in relationship marketing?

A lateral partnership involves extensive buying and selling interaction between the partners.

Who assists marketers by providing software when it is needed to capture, manipulate, and analyze consumer data?

Internal marketing is equally as important as external marketing because studies show that 40 percent of all consumer product sales come from employees and their extended families.

The average lifetime of a customer relationship ultimately depends on the sales representative assigned to handle the account or customer.

Effective customer relationship management depends on cross-disciplinary teams that work together to solve customer problems.

Customer satisfaction is defined as the psychological difference between what a customer expects and what he or she perceives he or she needs.

In the business-to-business market, cooperative buyer-seller efforts seldom bring much improvement in the efficiency and effectiveness of both partners in a national account selling arrangement.

What makes customer relationship management possible?

Walter T.Wexler is a family-owned business that sells custom-ordered furniture.After a delivery is made, a salesperson calls the customer to ensure the delivery was satisfactory.Within a month, the salesperson will call again to see if any additional pieces are needed to complete the decor.This follow-up service will most likely result in a sale, as studies have shown that the chance of a repeat sale can be higher than the chance of a new sale.

Successful internal marketing efforts create satisfied employees who spread positive word-of-mouth messages to relatives, friends, and acquaintances.

Social interaction with the customer is the second step on the relationship marketing continuum.It can be formal or informal and occur at any level with an organization.

How does Proctor & Gamble pay special attention to the needs of national retailers, such as Walmart and Canadian Tire?

At the second level of the development of a buyer-seller relationship, what is the interaction focused on?

Assume that Ford has established a strategic alliance with Michelin to design an exclusive line of tires for Ford automobiles.The Ford-Michelin strategic alliance would be a horizontal alliance.

What system is in place when a seller determines how much product a buyer needs and then automatically ships new goods to that buyer?

When a company becomes a buyer partner in a relationship, it has a unique set of needs and requirements that vendors must meet to make the relationship successful over a long period of time.

First-level relationship marketing programs typically rely on pricing and other financial incentives to motivate the customer into a buying relationship with a vendor.

The toy inside most kid-size meals is part of a co-marketing effort between the fast-food chain and the toy manufacturer.

Organizations may embrace dissimilar values and still partner successfully in the long run.