Exam 16: Customer Retention and Maximization

The standards for preferred supplier are the same for all firms and often include quality programs,employee safety and training efforts and delivery specifications.

In _____ the buyer cannot easily switch to another supplier because personnel might have to be retrained,downstream customers would be let down or some aspect of setup would be costly.

Assets whose value is sharply reduced outside a particular relationship are called:

On a holiday to Tahiti,Chelsea goes a hotel where she has a reservation.On her arrival,the receptionist tells her that "Sorry,but we have no record of your reservation and we are full." This instance is an example of:

In order for quality and service to play a major role in building/maintaining business relationships they must be:

Relationships cemented by switching costs are called:

Contracts in business relationships should:

This means the system is composed of distinct subsystems or components.

Relationship facet performance score,obtained by calculating the average performance score for the attributes of each relationships facet can be used as independent variables in:

Satisfaction surveys add value to the system of relationship communication only when used in isolation.

Warehouse rackings and franchises are examples of:

Traditionally,firms have placed greater emphasis upon gaining customers than keeping them.

Cranes Inc.gives its printing orders to multiple suppliers.These suppliers may have a share of the business in either the current period or future periods.However,one of these suppliers,Paramount Inc.,receives a considerable percent of Cranes' printing orders,though the orders taper or augment periodically.Paramount can be best classified as a(n):

Identify the INCORRECT statement pertaining to modularity.

Firms have to stay in a relationship when there are no alternatives or when technical features of the exchange bind the parties for extended periods.

Due to a linear relationship between retention and net present value,efforts to boost retention yield the same incremental profits at various retention levels for:

Accounts can be retained in the face of extreme contingencies if:

What are the hallmarks of a strong,continuing business relationship?

Good service often has an "exponential" impact upon the customer's perception of:

Satisfaction,by definition,is impossible to accurately measure and is,therefore,of little/no use for practical decision-making.