Question 1

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 2

YouTube offers viewers the option to share a video they have watched by sending it to one or more contacts in their email address books.Which of the following types of marketing is being used this case?

Accepted Answer

A)  Frequency marking
B)  Viral marketing
C)  Internal marketing
D)  Lateral marketing

Question 3

Which of the following is an example of affinity marketing?

Accepted Answer

A)  University of Iowa branded credit card
B)  Hallmark's Gold Crown card
C)  Blockbuster Rewards video card
D)  United Airlines Mileage Plus program

Question 4

In the context of the levels of relationship marketing,which of the following is an example of a level 1 relationship marketing program?

Accepted Answer

A)  An electronics firm setting up a worldwide technical support system to assist customers.
B)  A cheese shop organizing a cooking contest for customers.
C)  An automobile company offering a club membership to owners of high-end cars.
D)  An airline offering special discounts to its customers for early bookings.

Question 5

How can firms build customer loyalty?

Accepted Answer

Firms can build customer loyalty by:
1)u...

Question 6

_____ is a quantitative forecasting technique that assigns weights to historical sales data,giving the greatest weight to the most recent data.​

Accepted Answer

A)  ​Delphi technique
B)  ​Test market
C)  ​Exponential smoothing
D)  ​Jury of executive opinion

Question 7

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 8

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

Accepted Answer

A) True 
 B)False

Question 9

Which of the following concepts forms the basis of buzz marketing?

Accepted Answer

A)  Elasticity of demand
B)  Word-of-mouth
C)  Employee empowerment
D)  Long-term product viability

Question 10

What are some of the qualities shared by successful CRM systems?

Accepted Answer

Successful CRM systems share the followi...

Question 11

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 12

You just inherited the family business from your uncle who ran it successfully or over twenty-five years.You worked in the business during those years,and always vowed to change things once you took over ownership.Specifically,you came to realize that your uncle ran the business with a transaction-based mindset that produced good results,but not optimal results.You vowed to shift the business towards a relationship-based approach when you took over. ​
Based on your philosophy,which of the following characteristics do you plan to instill in the company's new approach to doing business?​

Accepted Answer

A)  ​Treat customers as equal partners in the buyer-seller exchange.
B)  ​Limit communications with customers.
C)  ​Focus on selling products and selling them quickly.
D)  ​Have a short-term focus in the interactions with customers.
E)  ​Focus on new sales rather than repeat sales.

Question 13

Customers prefer to have continuing relationships with businesses or suppliers because:

Accepted Answer

A)  it helps the consumers in the process of benchmarking.
B)  by nature, customers are resistant to change and prefer preexisting relationships with businesses.
C)  the decision-making process becomes easier with the reduction in the number of choices.
D)  most businesses have low switching costs which make them attractive to have continued relationships with.

Question 14

Quantitative forecasting methods rely on subjective data that reports opinions rather than exact historical data.

Accepted Answer

A) True 
 B)False

Question 15

Research alliances between for-profit firms and colleges and universities are examples of lateral partnerships.

Accepted Answer

A) True 
 B)False

Question 16

Carlos,CEO of Fresh Foods,wants a qualitative forecasting technique that is quick,inexpensive,and can be effectively used to forecast sales in the short run and for new product development.Which of the following techniques will best suit his purpose?​

Accepted Answer

A)  ​Delphi technique
B)  ​Survey of buyer intentions
C)  ​Test markets
D)  ​Jury of executive opinion

Question 17

The main objective of internal marketing programs is to:

Accepted Answer

A)  share resources with business partners.
B)  encourage employees to view each other as competitors.
C)  create satisfied employees.
D)  facilitate a vertical integration.

Question 18

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 19

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

Accepted Answer

A)  social
B)  financial
C)  structural
D)  notional

Question 20

Match each item with the correct statement below.
-A cooperative arrangement in which two businesses jointly market each other's products is called _____.

Accepted Answer

A)  strategic alliance
B)  relationship marketing
C)  cobranding
D)  frequency marketing
E)  value chainF) database marketingG) exponential smoothingH) customer relationship managementI) trend analysisJ) internal customersK) comarketingL) quick-response merchandisingM) affinity programN) lifetime value of a customerO) Delphi techniqueP) national account sellingQ) transaction-based marketingR) customer churnS) buzz marketingT) grassroots marketing

Exam 11: Relationship Marketing and Customer Relationship Management Crm

What are some of the qualities shared by successful CRM systems?

Correct Answer
verified
Successful CRM systems share the followi...
View Answer

Quantitative forecasting methods rely on subjective data that reports opinions rather than exact historical data.

Correct Answer
verified

Research alliances between for-profit firms and colleges and universities are examples of lateral partnerships.

Correct Answer
verified

The main objective of internal marketing programs is to:

Correct Answer
verified

Correct Answer
verified

Carlos,CEO of Fresh Foods,wants a qualitative forecasting technique that is quick,inexpensive,and can be effectively used to forecast sales in the short run and for new product development.Which of the following techniques will best suit his purpose?

Correct Answer
verified

Customers prefer to have continuing relationships with businesses or suppliers because:

Correct Answer
verified

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

Correct Answer
verified

How can firms build customer loyalty?

Correct Answer
verified
Firms can build customer loyalty by:
1)u...
View 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 Answer
verified
1)Grassroots marketing: This strategy in...
View Answer

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

Correct Answer
verified

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

Correct Answer
verified

_____ is a quantitative forecasting technique that assigns weights to historical sales data,giving the greatest weight to the most recent data.

Correct Answer
verified

Match each item with the correct statement below. -A cooperative arrangement in which two businesses jointly market each other's products is called _____.

Correct Answer
verified

In the context of the levels of relationship marketing,which of the following is an example of a level 1 relationship marketing program?

Correct Answer
verified

Which of the following is an example of affinity marketing?

Correct Answer
verified

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

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

YouTube offers viewers the option to share a video they have watched by sending it to one or more contacts in their email address books.Which of the following types of marketing is being used this case?

Correct Answer
verified

Which of the following concepts forms the basis of buzz marketing?

Correct Answer
verified

Exam 11: Relationship Marketing and Customer Relationship Management Crm

What are some of the qualities shared by successful CRM systems?

Correct AnswerverifiedSuccessful CRM systems share the followi...View AnswerShow Answer

Quantitative forecasting methods rely on subjective data that reports opinions rather than exact historical data.

Correct AnswerverifiedShow Answer

Research alliances between for-profit firms and colleges and universities are examples of lateral partnerships.

Correct AnswerverifiedShow Answer

The main objective of internal marketing programs is to:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Carlos,CEO of Fresh Foods,wants a qualitative forecasting technique that is quick,inexpensive,and can be effectively used to forecast sales in the short run and for new product development.Which of the following techniques will best suit his purpose?​

Correct AnswerverifiedShow Answer

Customers prefer to have continuing relationships with businesses or suppliers because:

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

How can firms build customer loyalty?

Correct AnswerverifiedFirms can build customer loyalty by:1)u...View AnswerShow 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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

_____ is a quantitative forecasting technique that assigns weights to historical sales data,giving the greatest weight to the most recent data.​

Correct AnswerverifiedShow Answer

Match each item with the correct statement below. -A cooperative arrangement in which two businesses jointly market each other's products is called _____.

Correct AnswerverifiedShow Answer

In the context of the levels of relationship marketing,which of the following is an example of a level 1 relationship marketing program?

Correct AnswerverifiedShow Answer

Which of the following is an example of affinity marketing?

Correct AnswerverifiedShow Answer

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

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

YouTube offers viewers the option to share a video they have watched by sending it to one or more contacts in their email address books.Which of the following types of marketing is being used this case?

Correct AnswerverifiedShow Answer

Which of the following concepts forms the basis of buzz marketing?

Correct AnswerverifiedShow Answer

Correct Answer
verified
Successful CRM systems share the followi...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Carlos,CEO of Fresh Foods,wants a qualitative forecasting technique that is quick,inexpensive,and can be effectively used to forecast sales in the short run and for new product development.Which of the following techniques will best suit his purpose?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Firms can build customer loyalty by:
1)u...
View Answer

Correct Answer
verified
1)Grassroots marketing: This strategy in...
View Answer

Correct Answer
verified

Correct Answer
verified

_____ is a quantitative forecasting technique that assigns weights to historical sales data,giving the greatest weight to the most recent data.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified