Question 1

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

Question 2

Briefly explain the various types of relationship marketing efforts that focus on turning customers from passive partners into active proponents of a product.

Accepted Answer

1)Grassroots marketing: This strategy in...

Question 3

_____ is a just-in-time strategy that reduces the time for which products are held in inventory,resulting in substantial cost savings.

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) application service providersH) customer relationship managementI) Web servicesJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) seller partnershipP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

Question 4

Explain the differences between frequency marketing and affinity marketing programs.Give an example of each.

Accepted Answer

Frequency marketing programs are frequen...

Question 5

_____ is a cooperative arrangement in which two or more businesses jointly promote each other's products.

Accepted Answer

A)   Internal marketing
B)   Cobranding
C)   Comarketing
D)   Seller lock-in

Question 6

Which of the following is true of customer relationship management systems?

Accepted Answer

A)   Purchasing a CRM system allows a firm to expand and customize, whereas hosted systems are more limited.
B)   Customer relationship management systems tend to complicate simple business processes.
C)   They focus on decentralizing the marketing data.
D)   They are more beneficial to the retailers compared to business firms in B2B markets.

Question 7

At the second level of relationship marketing continuum,the buyers and sellers develop a dependence on one another that continues to grow over time.

Accepted Answer

A) True 
 B)False

Question 8

A downstream relationship in the supply chain refers to the relationship between a company and its customers,including the end users of its product.

Accepted Answer

A) True 
 B)False

Question 9

Customer relationship management systems help firms to simplify complex business processes.

Accepted Answer

A) True 
 B)False

Question 10

Widgets have become popular marketing tools as they can be easily passed on from one person to another through social networking sites.

Accepted Answer

A) True 
 B)False

Question 11

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

Question 12

A(n) _____ is a marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities.

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) application service providersH) customer relationship managementI) Web servicesJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) seller partnershipP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

Question 13

_____ is a marketing effort that gathers volunteers to try products and then relies on them to talk about their experiences with their friends and colleagues.

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) application service providersH) customer relationship managementI) Web servicesJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) seller partnershipP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

Question 14

One of the main goals of internal marketing is to keep the employees informed about corporate goals,strategies,and customer needs.

Accepted Answer

A) True 
 B)False

Question 15

One of the key criteria considered while forming a strategic alliance is the size and location of the partner firm.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

_____ is a cooperative arrangement in which two or more businesses team up to closely link their names on a single product.

Accepted Answer

A)   Lateral partnership
B)   Cobranding
C)   Comarketing
D)   Symbiotic marketing

Question 18

In the context of strategic alliances,a cooperative relationship formed between businesses:

Accepted Answer

A)   typically involves forming a new business unit.
B)   involves partners taking ownership positions.
C)   is usually less formal than a joint venture.
D)   is not flexible or easily adaptable to changing market conditions.

Question 19

A company that gathers volunteers to try products and then relies on them to share their experiences with friends and colleagues is adopting a frequency marketing approach.

Accepted Answer

A) True 
 B)False

Question 20

The _____ is a sequence of suppliers that contribute to the creation and delivery of a product.

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) application service providersH) customer relationship managementI) Web servicesJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) seller partnershipP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

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

Widgets have become popular marketing tools as they can be easily passed on from one person to another through social networking sites.

Correct AnswerverifiedShow Answer

A(n) _____ is a marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One of the main goals of internal marketing is to keep the employees informed about corporate goals,strategies,and customer needs.

Correct AnswerverifiedShow Answer

A company that gathers volunteers to try products and then relies on them to share their experiences with friends and colleagues is adopting a frequency marketing approach.

Correct AnswerverifiedShow Answer

Customer relationship management systems help firms to simplify complex business processes.

Correct AnswerverifiedShow Answer

_____ is a just-in-time strategy that reduces the time for which products are held in inventory,resulting in substantial cost savings.

Correct AnswerverifiedShow Answer

Which of the following is true of customer relationship management systems?

Correct AnswerverifiedShow Answer

Explain the differences between frequency marketing and affinity marketing programs.Give an example of each.

Correct AnswerverifiedFrequency marketing programs are frequen...View AnswerShow Answer

One of the key criteria considered while forming a strategic alliance is the size and location of the partner firm.

Correct AnswerverifiedShow Answer

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 _____.

Correct AnswerverifiedShow Answer

_____ is a cooperative arrangement in which two or more businesses team up to closely link their names on a single product.

Correct AnswerverifiedShow Answer

_____ is a marketing effort that gathers volunteers to try products and then relies on them to talk about their experiences with their friends and colleagues.

Correct AnswerverifiedShow Answer

At the second level of relationship marketing continuum,the buyers and sellers develop a dependence on one another that continues to grow over time.

Correct AnswerverifiedShow Answer

Briefly explain the various types of relationship marketing efforts that focus on turning customers from passive partners into active proponents of a product.

Correct Answerverified1)Grassroots marketing: This strategy in...View AnswerShow Answer

The _____ is a sequence of suppliers that contribute to the creation and delivery of a product.

Correct AnswerverifiedShow Answer

In the context of strategic alliances,a cooperative relationship formed between businesses:

Correct AnswerverifiedShow Answer

A downstream relationship in the supply chain refers to the relationship between a company and its customers,including the end users of its product.

Correct AnswerverifiedShow Answer

_____ is a cooperative arrangement in which two or more businesses jointly promote each other's products.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Frequency marketing programs are frequen...
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1)Grassroots marketing: This strategy in...
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