Question 1

_____ is a cooperative arrangement in which two or more businesses team up to closely link their names on a single 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 marketingU) N) and S)
V) B) and N)

Question 2

In the context of the relationship marketing continuum,the primary bond created by a second-level relationship marketing program is usually _____ in nature.

Accepted Answer

A)   social
B)   financial
C)   structural
D)   notionalE) A) and D)
F) B) and C)

Question 3

A marketing program that enables satisfied customers to spread the word about products to other consumers is called _____ marketing.

Accepted Answer

A)   grassroots
B)   viral
C)   frequency
D)   affinityE) B) and C)
F) B) and D)

Question 4

The supply chain management process has no influence on the relationship of the company with the product's end users.

Accepted Answer

A) True 
 B)False

Question 5

A strategic alliance formed between firms at adjacent stages in a supply chain is considered a vertical alliance.

Accepted Answer

A) True 
 B)False

Question 6

The grassroots marketing approach relies on marketing strategies that are:

Accepted Answer

A)   traditional.
B)   conventional.
C)   expensive.
D)   flexible.E) A) and B)
F) None of the above

Question 7

Which of the following is true of a vertical strategic alliance created by firms in B2B markets?

Accepted Answer

A)   It is created among the firms at the same level of the supply chain.
B)   It can only be formed between companies that serve different industry.
C)   It is formed when firms that are at adjacent states in the supply chain.
D)   It cannot be formed between two firms if their annual revenues are significantly different.E) A) and B)
F) A) and C)

Question 8

A lateral partnership is a strategic relationship that involves direct buyer-seller interactions.

Accepted Answer

A) True 
 B)False

Question 9

As compared to happy customers,unhappy customers typically talk less about their buying experiences.

Accepted Answer

A) True 
 B)False

Question 10

In a salute to fans of the Olympic games,Ralph Lauren launched a complete wardrobe,inspired by the Olympics designs,for men,women,children,and infants.This is an example of _____ marketing.

Accepted Answer

A)   distributive
B)   internal
C)   database
D)   affinityE) A) and B)
F) B) and C)

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

Accepted Answer

A) True 
 B)False

Question 13

In a cooperative alliance,the partners establish a new business unit in which each takes an ownership position.

Accepted Answer

A) True 
 B)False

Question 14

Transaction based marketing emphasizes retaining customers over making a sale.

Accepted Answer

A) True 
 B)False

Question 15

A(n) _____ is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

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 marketingU) N) and R)
V) D) and J)

Question 16

Joint ventures established by alliance partners operate more flexibly and change more easily with the change in market conditions,compared to cooperative alliances.

Accepted Answer

A) True 
 B)False

Question 17

G.J Inc.,an electronic component manufacturer and supplier,has an inventory management system that stores purchase patterns and requirements of its customers.Through this system the firm decides on the amount of the product required by the buyers and automatically ships the supplies to the buyer based on a preexisting agreement.This type of inventory management system is called _____.

Accepted Answer

A)   lateral management system
B)   vendor-managed inventory
C)   distributive management system
D)   symbiotic inventoryE) A) and C)
F) None of the above

Question 18

_____ is a promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

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 marketingU) F) and P)
V) D) and F)

Question 19

Quick-response merchandising is a just-in-time strategy that reduces the time merchandise is held in inventory,resulting in substantial cost savings.

Accepted Answer

A) True 
 B)False

Question 20

A strategic alliance is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Accepted Answer

A) True 
 B)False

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

Transaction based marketing emphasizes retaining customers over making a sale.

Correct Answer
verified

Joint ventures established by alliance partners operate more flexibly and change more easily with the change in market conditions,compared to cooperative alliances.

Correct Answer
verified

Which of the following is true of a vertical strategic alliance created by firms in B2B markets?

Correct Answer
verified

A lateral partnership is a strategic relationship that involves direct buyer-seller interactions.

Correct Answer
verified

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

Correct Answer
verified

A(n) _____ is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Correct Answer
verified

The grassroots marketing approach relies on marketing strategies that are:

Correct Answer
verified

As compared to happy customers,unhappy customers typically talk less about their buying experiences.

Correct Answer
verified

A strategic alliance formed between firms at adjacent stages in a supply chain is considered a vertical alliance.

Correct Answer
verified

In the context of the relationship marketing continuum,the primary bond created by a second-level relationship marketing program is usually _____ in nature.

Correct Answer
verified

A marketing program that enables satisfied customers to spread the word about products to other consumers is called _____ marketing.

Correct Answer
verified

In a cooperative alliance,the partners establish a new business unit in which each takes an ownership position.

Correct Answer
verified

The supply chain management process has no influence on the relationship of the company with the product's end users.

Correct Answer
verified

A strategic alliance is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Correct Answer
verified

In a salute to fans of the Olympic games,Ralph Lauren launched a complete wardrobe,inspired by the Olympics designs,for men,women,children,and infants.This is an example of _____ marketing.

Correct Answer
verified

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Quick-response merchandising is a just-in-time strategy that reduces the time merchandise is held in inventory,resulting in substantial cost savings.

Correct Answer
verified

_____ is a promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

Correct Answer
verified

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

Transaction based marketing emphasizes retaining customers over making a sale.

Correct AnswerverifiedShow Answer

Joint ventures established by alliance partners operate more flexibly and change more easily with the change in market conditions,compared to cooperative alliances.

Correct AnswerverifiedShow Answer

Which of the following is true of a vertical strategic alliance created by firms in B2B markets?

Correct AnswerverifiedShow Answer

A lateral partnership is a strategic relationship that involves direct buyer-seller interactions.

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

A(n) _____ is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Correct AnswerverifiedShow Answer

The grassroots marketing approach relies on marketing strategies that are:

Correct AnswerverifiedShow Answer

As compared to happy customers,unhappy customers typically talk less about their buying experiences.

Correct AnswerverifiedShow Answer

A strategic alliance formed between firms at adjacent stages in a supply chain is considered a vertical alliance.

Correct AnswerverifiedShow Answer

In the context of the relationship marketing continuum,the primary bond created by a second-level relationship marketing program is usually _____ in nature.

Correct AnswerverifiedShow Answer

A marketing program that enables satisfied customers to spread the word about products to other consumers is called _____ marketing.

Correct AnswerverifiedShow Answer

In a cooperative alliance,the partners establish a new business unit in which each takes an ownership position.

Correct AnswerverifiedShow Answer

The supply chain management process has no influence on the relationship of the company with the product's end users.

Correct AnswerverifiedShow Answer

A strategic alliance is a partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Correct AnswerverifiedShow Answer

In a salute to fans of the Olympic games,Ralph Lauren launched a complete wardrobe,inspired by the Olympics designs,for men,women,children,and infants.This is an example of _____ marketing.

Correct AnswerverifiedShow Answer

One of the steps involved in measuring customer satisfaction is compiling feedback from customers regarding present performance.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Quick-response merchandising is a just-in-time strategy that reduces the time merchandise is held in inventory,resulting in substantial cost savings.

Correct AnswerverifiedShow Answer

_____ is a promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

Correct AnswerverifiedShow Answer

Correct Answer
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