Question 1

The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

Accepted Answer

A) True 
 B)False  False

Question 2

Marketers reward their top customers with cash,rebates,merchandise and premiums in order to keep them.Which of the following best describes this strategy?​

Accepted Answer

A) ​Grassroots marketing 
B) ​Affinity marketing 
C) ​Database marketing 
D) ​Customer churn 
E) ​Frequency marketing 
A) ​Grassroots marketing 
B) ​Affinity marketing 
C) ​Database marketing 
D) ​Customer churn 
E) ​Frequency marketing E

Question 3

During the 2016 NBA Championship series featuring the Golden State Warriors and Cleveland Cavaliers,Taco Bell utilized a creative promotion strategy by partnering with the NBA for its "Steal a game,steal a taco" campaign whereby "Americans" could get one free taco at Taco Bell the day following a play-off game if the road team won.This partnership which promotes both the NBA Finals and Taco Bell is an example of _________.​

Accepted Answer

A) ​comarketing 
B) ​cobranding 
C) ​lateral partnership 
D) ​internal partnership 
A) ​comarketing 
B) ​cobranding 
C) ​lateral partnership 
D) ​internal partnership A

Question 4

Match each item with the correct statement below.
-_____ focuses on a company's best customers with the goal of increasing their motivation to buy even more of the same or other products from the seller by rewarding them with cash,rebates,or other premiums.

Accepted Answer

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

Question 5

Explain cobranding and comarketing.Give an example of each.

Accepted Answer

Cobranding joins two strong brand names,

Question 6

Managerial actions that enable all members of an organization to understand,accept,and fulfill their respective roles in implementing marketing strategy are collectively referred to as _____.

Accepted Answer

A) social referencing 
B) social loafing 
C) internal marketing 
D) strategic positioning 
A) social referencing 
B) social loafing 
C) internal marketing 
D) strategic positioning

Question 7

Customer relationship management (CRM)requires a top-down commitment to succeed and must penetrate every aspect of a firm's business.

Accepted Answer

A) True 
 B)False

Question 8

Identify the four types of B2B partnerships.

Accepted Answer

Companies form four key types of partner

Question 9

Best Buy Rewards Program tracks customer sales,and periodically issues coupons to customers based on the values of prior purchases.This marketing effort by Best Buy can be regarded as _____ marketing.

Accepted Answer

A) affinity 
B) database 
C) frequency 
D) societal 
A) affinity 
B) database 
C) frequency 
D) societal

Question 10

Mike is a sales representative for Fastenal and ​calls on manufacturer accounts in his territory.Most of the manufacturers utilize a just-in-time inventory system whereby they rely on suppliers like Fastenal to maintain appropriate levels of stock so they can minimize their inventory carrying costs and strive to balance the inventory in order to ensure they have the right levels of inventory for their production.Mike provides value-added services to assist these customers in identifying their inventory needs and tracks the inventory levels to ensure the customer's goals are met.This value-added service is known as a(n):

Accepted Answer

A) ​vendor-managed inventory 
B) ​key account selling 
C) ​quick-response inventory management 
D) ​customer relationship management 
A) ​vendor-managed inventory 
B) ​key account selling 
C) ​quick-response inventory management 
D) ​customer relationship management

Question 11

Differentiate between transaction-based marketing and relationship marketing.

Accepted Answer

In transaction-based marketing,buyer and

Question 12

Firms focus on acquiring new customers rather than retaining existing customers,as new customers account for nearly 70 percent of new business for a firm.

Accepted Answer

A) True 
 B)False

Question 13

_____ marketing programs are designed to reward top customers with cash,rebates,merchandise,or other premiums.

Accepted Answer

A) Frequency 
B) Social 
C) Internal 
D) Affinity 
A) Frequency 
B) Social 
C) Internal 
D) Affinity

Question 14

Which of the following statements represents a key consideration in internal marketing?​

Accepted Answer

A) ​It focuses primarily on customers who also work for the firm. 
B) ​Employee satisfaction is critical. 
C) ​Customer knowledge and involvement are important goals. 
D) ​Internal customer satisfaction is not related to customer satisfaction. 
E) ​Retaining employees in not a focus. 
A) ​It focuses primarily on customers who also work for the firm. 
B) ​Employee satisfaction is critical. 
C) ​Customer knowledge and involvement are important goals. 
D) ​Internal customer satisfaction is not related to customer satisfaction. 
E) ​Retaining employees in not a focus.

Question 15

Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.

Accepted Answer

A) rate of customer coverage 
B) customer turnover rate 
C) lifetime value of a customer 
D) net customer yield 
A) rate of customer coverage 
B) customer turnover rate 
C) lifetime value of a customer 
D) net customer yield

Question 16

Which of the following is the most important measure of relationship marketing programs in both consumer and business-to-business markets?

Accepted Answer

A) Cost of the marketing program 
B) Click-through behavior on websites 
C) Lifetime value of a customer 
D) Debt to equity ratio 
A) Cost of the marketing program 
B) Click-through behavior on websites 
C) Lifetime value of a customer 
D) Debt to equity ratio

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

_____ involves connecting directly with existing and potential customers through nonmainstream channels.

Accepted Answer

A) Viral marketing 
B) Interactive marketing 
C) Grassroots marketing 
D) Buzz marketing 
A) Viral marketing 
B) Interactive marketing 
C) Grassroots marketing 
D) Buzz marketing

Question 19

The first step in measuring customer satisfaction involves comparing actual sales to forecasted sales.

Accepted Answer

A) True 
 B)False

Question 20

Frito Lay and Taco Bell utilize _________,a cooperative arrangement where Taco Bell utilizes the Doritos name and logo for several menu items under the name "Doritos Loco Tacos" including ​Nacho Cheese,Cool Ranch and Fiery.

Accepted Answer

A) ​cobranding 
B) ​comarketing 
C) ​internal partnership 
D) ​cocreation 
A) ​cobranding 
B) ​comarketing 
C) ​internal partnership 
D) ​cocreation

The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

Marketers reward their top customers with cash,rebates,merchandise and premiums in order to keep them.Which of the following best describes this strategy?

Match each item with the correct statement below. -_____ focuses on a company's best customers with the goal of increasing their motivation to buy even more of the same or other products from the seller by rewarding them with cash,rebates,or other premiums.

Explain cobranding and comarketing.Give an example of each.

Managerial actions that enable all members of an organization to understand,accept,and fulfill their respective roles in implementing marketing strategy are collectively referred to as _____.

Customer relationship management (CRM)requires a top-down commitment to succeed and must penetrate every aspect of a firm's business.

Identify the four types of B2B partnerships.

Best Buy Rewards Program tracks customer sales,and periodically issues coupons to customers based on the values of prior purchases.This marketing effort by Best Buy can be regarded as _____ marketing.

Differentiate between transaction-based marketing and relationship marketing.

Firms focus on acquiring new customers rather than retaining existing customers,as new customers account for nearly 70 percent of new business for a firm.

_____ marketing programs are designed to reward top customers with cash,rebates,merchandise,or other premiums.

Which of the following statements represents a key consideration in internal marketing?

Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.

Which of the following is the most important measure of relationship marketing programs in both consumer and business-to-business markets?

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

_____ involves connecting directly with existing and potential customers through nonmainstream channels.

The first step in measuring customer satisfaction involves comparing actual sales to forecasted sales.

Frito Lay and Taco Bell utilize _________,a cooperative arrangement where Taco Bell utilizes the Doritos name and logo for several menu items under the name "Doritos Loco Tacos" including Nacho Cheese,Cool Ranch and Fiery.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 11: Relationship Marketing and Customer Relationship Management Crm

The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.

Marketers reward their top customers with cash,rebates,merchandise and premiums in order to keep them.Which of the following best describes this strategy?​

Match each item with the correct statement below. -_____ focuses on a company's best customers with the goal of increasing their motivation to buy even more of the same or other products from the seller by rewarding them with cash,rebates,or other premiums.

Explain cobranding and comarketing.Give an example of each.

Managerial actions that enable all members of an organization to understand,accept,and fulfill their respective roles in implementing marketing strategy are collectively referred to as _____.

Customer relationship management (CRM)requires a top-down commitment to succeed and must penetrate every aspect of a firm's business.

Identify the four types of B2B partnerships.

Best Buy Rewards Program tracks customer sales,and periodically issues coupons to customers based on the values of prior purchases.This marketing effort by Best Buy can be regarded as _____ marketing.

Differentiate between transaction-based marketing and relationship marketing.

Firms focus on acquiring new customers rather than retaining existing customers,as new customers account for nearly 70 percent of new business for a firm.

_____ marketing programs are designed to reward top customers with cash,rebates,merchandise,or other premiums.

Which of the following statements represents a key consideration in internal marketing?​

Revenues and intangible benefits such as referrals and feedback a consumer brings to the seller over an average period of their relationship,less the amount the company must spend to acquire,market to,and service the customer is known as the _____.

Which of the following is the most important measure of relationship marketing programs in both consumer and business-to-business markets?

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

_____ involves connecting directly with existing and potential customers through nonmainstream channels.

The first step in measuring customer satisfaction involves comparing actual sales to forecasted sales.

Frito Lay and Taco Bell utilize _________,a cooperative arrangement where Taco Bell utilizes the Doritos name and logo for several menu items under the name "Doritos Loco Tacos" including ​Nacho Cheese,Cool Ranch and Fiery.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Marketers reward their top customers with cash,rebates,merchandise and premiums in order to keep them.Which of the following best describes this strategy?

Which of the following statements represents a key consideration in internal marketing?

Frito Lay and Taco Bell utilize _________,a cooperative arrangement where Taco Bell utilizes the Doritos name and logo for several menu items under the name "Doritos Loco Tacos" including Nacho Cheese,Cool Ranch and Fiery.