Question 1

_____ describes the extent to which buyers of a product or a service are content with their purchases.

Accepted Answer

A)  Average propensity to consume 
B)  Customer satisfaction 
C)  Customer lifetime value 
D)  Market cognizance 
A)  Average propensity to consume 
B)  Customer satisfaction 
C)  Customer lifetime value 
D)  Market cognizance

Question 2

A electronics company has hired some product experts who have sufficient following on social media sites to spread a word about their products.The company provides the products to these individuals and requests them to post their opinion which helps in promoting the products.This is an example of:

Accepted Answer

A)  buzz marketing. 
B)  internal marketing. 
C)  lateral marketing. 
D)  distributive marketing 
A)  buzz marketing. 
B)  internal marketing. 
C)  lateral marketing. 
D)  distributive marketing

Question 3

Companies can use database marketing to improve customer retention and referral rates.

Accepted Answer

A) True 
 B)False

Question 4

The level 1 purchasers on a company's relationship marketing continuum receive specialized services and value-added benefits that may not be available from another firm.

Accepted Answer

A) True 
 B)False

Question 5

The _____ is defined as the revenues and intangible benefits that a customer brings to the seller over an average lifetime of their relationship,less the amount the company must spend to acquire,market to,and serve the customer.

Accepted Answer

A) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing 
A) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing

Question 6

A leading detergent brand receives complaints from its customers that the chemicals used are too strong and dangerous,and they do not smell good.To counter this,the company runs a series of ads showing its experts approaching select customers with an improved detergent that addresses the concerns of the customers.The company is engaging in:

Accepted Answer

A)  controlled experimentation. 
B)  database marketing. 
C)  internal marketing. 
D)  customer win-back. 
A)  controlled experimentation. 
B)  database marketing. 
C)  internal marketing. 
D)  customer win-back.

Question 7

At the second level of the relationship marketing continuum,the focus is on:

Accepted Answer

A)  price and other financial incentives. 
B)  reaching out to the customer with social interaction. 
C)  structurally transforming the relationship into an interdependent partnership. 
D)  analyzing data from the initial purchase to determine the chance of a repeat sale. 
A)  price and other financial incentives. 
B)  reaching out to the customer with social interaction. 
C)  structurally transforming the relationship into an interdependent partnership. 
D)  analyzing data from the initial purchase to determine the chance of a repeat sale.

Question 8

Buyer-seller relationships between companies involve working together to provide advantages that benefit both parties.

Accepted Answer

A) True 
 B)False

Question 9

The interactions at the first level of relationship marketing continuum are most likely to lead to a long-term relationship.

Accepted Answer

A) True 
 B)False

Question 10

How do marketers measure customer satisfaction? How can they avoid unfavorable service gaps while marketing their products?

Accepted Answer

Customer satisfaction is the extent to w

Question 11

One of the motives that prompt firms to enter into partnerships is:

Accepted Answer

A)  creating longer distribution channels. 
B)  raising barriers to entry. 
C)  promoting the use of technology to facilitate customer orientation. 
D)  avoiding vertical and horizontal integration. 
A)  creating longer distribution channels. 
B)  raising barriers to entry. 
C)  promoting the use of technology to facilitate customer orientation. 
D)  avoiding vertical and horizontal integration.

Question 12

Firms with similar skills and resources form a partnership to reduce costs.

Accepted Answer

A) True 
 B)False

Question 13

_____ marketing is the development,growth,and maintenance of cost-effective,high-value associations with individual customers,suppliers,and other partners over time.

Accepted Answer

A)  Relationship 
B)  Transaction-based 
C)  Substitutive 
D)  Associative 
A)  Relationship 
B)  Transaction-based 
C)  Substitutive 
D)  Associative

Question 14

An Internet service provider (ISP)loses approximately 12 percent of its existing customers every year.According to this information,the ISP is experiencing:

Accepted Answer

A)  market reorganization. 
B)  customer churn. 
C)  group polarization. 
D)  social referencing. 
A)  market reorganization. 
B)  customer churn. 
C)  group polarization. 
D)  social referencing.

Question 15

Which of the following firms is most likely to enter into a vertical strategic alliance with Boeing?

Accepted Answer

A)  Airbus, a European consortium of aircraft manufacturers 
B)  Pratt & Whitney, an aircraft engine manufacturer 
C)  Cessna, an American airplane manufacturer 
D)  Gulfstream Aerospace, a jet aircraft producer 
A)  Airbus, a European consortium of aircraft manufacturers 
B)  Pratt & Whitney, an aircraft engine manufacturer 
C)  Cessna, an American airplane manufacturer 
D)  Gulfstream Aerospace, a jet aircraft producer

Question 16

Customer satisfaction can be measured in terms of the gaps between what customers expect and what they perceive they have received.

Accepted Answer

A) True 
 B)False

Question 17

The service department of an automobile firm calls its customers regularly after service to check the performance of the car.This is an example of the first level of interaction in the relationship marketing continuum.

Accepted Answer

A) True 
 B)False

Question 18

A clothing brand allows its customers to interact with each other on their website so that the customers can share their views and opinions about the company's products.The company has also created a Web page on a social networking site where the customers can express their opinions.This type of marketing strategy is an example of _____.

Accepted Answer

A)  internal marketing 
B)  viral marketing 
C)  societal marketing 
D)  distributive marketing 
A)  internal marketing 
B)  viral marketing 
C)  societal marketing 
D)  distributive marketing

Question 19

_____ are companies that specialize in providing both the computers and the application support for managing information systems of business clients.

Accepted Answer

A) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing 
A) strategic alliance 
B) relationship marketing 
C) cobranding 
D) frequency marketing 
E) value chain
F)database marketing
G)application service providers
H)customer relationship management
I)Web services
J)internal customers
K)comarketing
L)quick-response merchandising
M)affinity program
N)lifetime value of a customer
O)seller partnership
P)national account selling
Q)transaction-based marketing
R)customer churn
S)buzz marketing
T)grassroots marketing

Question 20

A biotechnology company and a medical school have formed a partnership to develop a new class of cancer-fighting drugs.This is an example of a(n)_____ partnership.

Accepted Answer

A)  buyer 
B)  seller 
C)  internal 
D)  lateral 
A)  buyer 
B)  seller 
C)  internal 
D)  lateral

_____ describes the extent to which buyers of a product or a service are content with their purchases.

A electronics company has hired some product experts who have sufficient following on social media sites to spread a word about their products.The company provides the products to these individuals and requests them to post their opinion which helps in promoting the products.This is an example of:

Companies can use database marketing to improve customer retention and referral rates.

The level 1 purchasers on a company's relationship marketing continuum receive specialized services and value-added benefits that may not be available from another firm.

The _____ is defined as the revenues and intangible benefits that a customer brings to the seller over an average lifetime of their relationship,less the amount the company must spend to acquire,market to,and serve the customer.

At the second level of the relationship marketing continuum,the focus is on:

Buyer-seller relationships between companies involve working together to provide advantages that benefit both parties.

The interactions at the first level of relationship marketing continuum are most likely to lead to a long-term relationship.

How do marketers measure customer satisfaction? How can they avoid unfavorable service gaps while marketing their products?

One of the motives that prompt firms to enter into partnerships is:

Firms with similar skills and resources form a partnership to reduce costs.

_____ marketing is the development,growth,and maintenance of cost-effective,high-value associations with individual customers,suppliers,and other partners over time.

An Internet service provider (ISP)loses approximately 12 percent of its existing customers every year.According to this information,the ISP is experiencing:

Which of the following firms is most likely to enter into a vertical strategic alliance with Boeing?

Customer satisfaction can be measured in terms of the gaps between what customers expect and what they perceive they have received.

The service department of an automobile firm calls its customers regularly after service to check the performance of the car.This is an example of the first level of interaction in the relationship marketing continuum.

_____ are companies that specialize in providing both the computers and the application support for managing information systems of business clients.

A biotechnology company and a medical school have formed a partnership to develop a new class of cancer-fighting drugs.This is an example of a(n)_____ partnership.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 11: Relationship Marketing and Customer Relationship Management (CRM)

_____ describes the extent to which buyers of a product or a service are content with their purchases.

A electronics company has hired some product experts who have sufficient following on social media sites to spread a word about their products.The company provides the products to these individuals and requests them to post their opinion which helps in promoting the products.This is an example of:

Companies can use database marketing to improve customer retention and referral rates.

The level 1 purchasers on a company's relationship marketing continuum receive specialized services and value-added benefits that may not be available from another firm.

The _____ is defined as the revenues and intangible benefits that a customer brings to the seller over an average lifetime of their relationship,less the amount the company must spend to acquire,market to,and serve the customer.

At the second level of the relationship marketing continuum,the focus is on:

Buyer-seller relationships between companies involve working together to provide advantages that benefit both parties.

The interactions at the first level of relationship marketing continuum are most likely to lead to a long-term relationship.

How do marketers measure customer satisfaction? How can they avoid unfavorable service gaps while marketing their products?

One of the motives that prompt firms to enter into partnerships is:

Firms with similar skills and resources form a partnership to reduce costs.

_____ marketing is the development,growth,and maintenance of cost-effective,high-value associations with individual customers,suppliers,and other partners over time.

An Internet service provider (ISP)loses approximately 12 percent of its existing customers every year.According to this information,the ISP is experiencing:

Which of the following firms is most likely to enter into a vertical strategic alliance with Boeing?

Customer satisfaction can be measured in terms of the gaps between what customers expect and what they perceive they have received.

The service department of an automobile firm calls its customers regularly after service to check the performance of the car.This is an example of the first level of interaction in the relationship marketing continuum.

_____ are companies that specialize in providing both the computers and the application support for managing information systems of business clients.

A biotechnology company and a medical school have formed a partnership to develop a new class of cancer-fighting drugs.This is an example of a(n)_____ partnership.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters