Question 1

On-going transactions in the business market where the customer and the supplier focus only on the timely exchange of standard products at competitive prices could be described as:

Accepted Answer

A)  transactional exchange.
B)  a partnership.
C)  collaborative exchange.
D)  a strategic alliance.
E)  a joint venture.F) A) and E)
G) D) and E)

Question 2

____________________ consist of unwritten and largely nonverbalized sets of congruent expectations and assumptions held by the parties to the alliance about each other's prerogatives and obligations.

Accepted Answer

Psychologi...

Question 3

For collaborative customers,the salesperson not only works with the purchasing staff,but also with a wide array of managers throughout the organization.

Accepted Answer

A) True 
 B)False

Question 4

Transactional exchange features very close:

Accepted Answer

A)  information linkages.
B)  social linkages.
C)  operational linkages.
D)  all of the above.
E)  none of the above.F) D) and E)
G) A) and C)

Question 5

Some customers place a high value on supporting services (for example,technical advice and training)and are willing to pay a premium price for this support.Other customers do not value service support and are extremely price sensitive in making product selection decisions.Describe how a business marketer might profitably serve each of these customer segments.

Accepted Answer

The answer of Some customers place a high value on...

Question 6

_____ involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it.

Accepted Answer

A)  Trust
B)  Relationship commitment
C)  Relationship marketing
D)  A strategic allianceE) A) and D)
F) A) and C)

Question 7

_____ occur in between the two extremes on the relationship continuum,where the focus of the selling firm shifts from attracting customers to keeping customers.

Accepted Answer

A)  Transactional exchanges
B)  Value-added exchanges
C)  Competitive exchanges
D)  Collaborative exchangesE) B) and D)
F) C) and D) B

Question 8

Collaborative relationships:

Accepted Answer

A)  are emphasized by buying firms when the purchase is deemed important to the organization.
B)  are emphasized by buyers when the complexity is high.
C)  are more likely to involve operational linkages.
D)  all of the above
E)  (a)  and (b)  onlyF) B) and C)
G) A) and B)

Question 9

For collaborative customers,the business marketer should:

Accepted Answer

A)  invest resources to build operational linkages and information-sharing mechanisms for the relationship.
B)  directly assist customers with planning and strategy development.
C)  work with a wide array of managers on strategy and coordination issues.
D)  all of the above
E)  (a)  and (b)  onlyF) A) and B)
G) A) and C)

Question 10

While loyal customers are likely to be satisfied,all satisfied customers will not remain loyal.

Accepted Answer

A) True 
 B)False

Question 11

____ is composed of at least two dimensions: (1) trust in the salesperson and (2) satisfaction with the salesperson.

Accepted Answer

A)  role definition
B)   relational adaptiveness
C)  relationship quality
D)  role congruity
E)  relationship congruityF) A) and B)
G) D) and E)

Question 12

Which of the following statements about collaborative relationships is(are) true?

Accepted Answer

A)  Customers prefer a collaborative relationship when there is a competitive supply environment featuring many alternatives.
B)  Collaborative relationships are less likely to involve operational linkages between the buying and selling firms.
C)  Buyers prefer collaborative relationships when the purchase decision is not complex.
D)  all of the above
E)  none of the aboveF) A) and C)
G) B) and C) E

Question 13

From the customer's perspective,relationship quality centers on:

Accepted Answer

A)  the sensitivity of the salesperson in understanding how business conditions affect the industry within which the buying firm operates.
B)   the ability of the salesperson to understand the selection criteria of each member of the buying center.
C)  trust in the salesperson.
D)  satisfaction with the salesperson.
E)  both (c)  and (d) F) A) and D)
G) B) and C)

Question 14

Which of the following are goals of customer relationship management (CRM) ?

Accepted Answer

A)  A continuing dialogue with customers.
B)  Personalized treatment of the most valuable customers.
C)  Achieving customer retention.
D)  All of the above.
E)  (a)  and (c)  only.F) A) and C)
G) All of the above

Question 15

Gartner Group,a research firm for information technology users,reports that 55 percent of all customer relationship management software projects fail to produce results.Worse yet,one in every five companies report that their CRM initiatives not only had failed to deliver profitable growth but also had damaged long-standing customer relationships.Experts suggest that these problems tend to occur when executives mistake CRM technology for a customer strategy.First,define customer relationship management (the cross-functional process)and describe how CRM technology (the software)allows a firm to provide customized treatment of key customers.Second,describe the central components of a customer relationship management strategy and the way in which CRM technology can support each strategy component.

Accepted Answer

Not Answer

Question 16

Buyers seek a close relationship for strategic purchases and employ a more distant arms-length approach in procuring non- strategic items.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following are reasons for business marketers to employ relationship marketing activities?

Accepted Answer

A)  Loyal customers are far more profitable than price sensitive customers.
B)  Having strong relationships with customers can be hard for competitors to understand or duplicate.
C)  Both (a)  and (b)  are true.
D)  Neither (a)  nor (b)  is true.E) None of the above
F) All of the above

Question 18

Relationship commitment involves a partner's belief than an ongoing relationship is so important that it deserves maximum efforts to maintain it.

Accepted Answer

A) True 
 B)False

Question 19

A cross-functional process for achieving a continuing dialogue with customers,with personalized treatment of the most valuable customers and ensuring customer retention and the effectiveness of marketing initiatives is known as:

Accepted Answer

Customer r...

Question 20

In a collaborative exchange,the supply market dynamism would best be described as:

Accepted Answer

The answer of In a collaborative exchange,the supply market dynamism...

Exam 3: Customer Relationship Management Strategies for Business Markets

On-going transactions in the business market where the customer and the supplier focus only on the timely exchange of standard products at competitive prices could be described as:

Correct Answer
verified

____________________ consist of unwritten and largely nonverbalized sets of congruent expectations and assumptions held by the parties to the alliance about each other's prerogatives and obligations.

Correct Answer
verified
Psychologi...
View Answer

For collaborative customers,the salesperson not only works with the purchasing staff,but also with a wide array of managers throughout the organization.

Correct Answer
verified

Transactional exchange features very close:

Correct Answer
verified

Correct Answer
verified

_____ involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it.

Correct Answer
verified

_____ occur in between the two extremes on the relationship continuum,where the focus of the selling firm shifts from attracting customers to keeping customers.

Correct Answer
verified
B

Collaborative relationships:

Correct Answer
verified

For collaborative customers,the business marketer should:

Correct Answer
verified

While loyal customers are likely to be satisfied,all satisfied customers will not remain loyal.

Correct Answer
verified

____ is composed of at least two dimensions: (1) trust in the salesperson and (2) satisfaction with the salesperson.

Correct Answer
verified

Which of the following statements about collaborative relationships is(are) true?

Correct Answer
verified
E

From the customer's perspective,relationship quality centers on:

Correct Answer
verified

Which of the following are goals of customer relationship management (CRM) ?

Correct Answer
verified

Correct Answer
verified
Not Answer

Buyers seek a close relationship for strategic purchases and employ a more distant arms-length approach in procuring non- strategic items.

Correct Answer
verified

Which of the following are reasons for business marketers to employ relationship marketing activities?

Correct Answer
verified

Relationship commitment involves a partner's belief than an ongoing relationship is so important that it deserves maximum efforts to maintain it.

Correct Answer
verified

A cross-functional process for achieving a continuing dialogue with customers,with personalized treatment of the most valuable customers and ensuring customer retention and the effectiveness of marketing initiatives is known as:

Correct Answer
verified
Customer r...
View Answer

In a collaborative exchange,the supply market dynamism would best be described as:

Correct Answer
verified

Exam 3: Customer Relationship Management Strategies for Business Markets

On-going transactions in the business market where the customer and the supplier focus only on the timely exchange of standard products at competitive prices could be described as:

Correct AnswerverifiedShow Answer

____________________ consist of unwritten and largely nonverbalized sets of congruent expectations and assumptions held by the parties to the alliance about each other's prerogatives and obligations.

Correct AnswerverifiedPsychologi...View AnswerShow Answer

For collaborative customers,the salesperson not only works with the purchasing staff,but also with a wide array of managers throughout the organization.

Correct AnswerverifiedShow Answer

Transactional exchange features very close:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

_____ involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it.

Correct AnswerverifiedShow Answer

_____ occur in between the two extremes on the relationship continuum,where the focus of the selling firm shifts from attracting customers to keeping customers.

Correct AnswerverifiedB

Collaborative relationships:

Correct AnswerverifiedShow Answer

For collaborative customers,the business marketer should:

Correct AnswerverifiedShow Answer

While loyal customers are likely to be satisfied,all satisfied customers will not remain loyal.

Correct AnswerverifiedShow Answer

____ is composed of at least two dimensions: (1) trust in the salesperson and (2) satisfaction with the salesperson.

Correct AnswerverifiedShow Answer

Which of the following statements about collaborative relationships is(are) true?

Correct AnswerverifiedE

From the customer's perspective,relationship quality centers on:

Correct AnswerverifiedShow Answer

Which of the following are goals of customer relationship management (CRM) ?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedNot Answer

Buyers seek a close relationship for strategic purchases and employ a more distant arms-length approach in procuring non- strategic items.

Correct AnswerverifiedShow Answer

Which of the following are reasons for business marketers to employ relationship marketing activities?

Correct AnswerverifiedShow Answer

Relationship commitment involves a partner's belief than an ongoing relationship is so important that it deserves maximum efforts to maintain it.

Correct AnswerverifiedShow Answer

A cross-functional process for achieving a continuing dialogue with customers,with personalized treatment of the most valuable customers and ensuring customer retention and the effectiveness of marketing initiatives is known as:

Correct AnswerverifiedCustomer r...View AnswerShow Answer

In a collaborative exchange,the supply market dynamism would best be described as:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Psychologi...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
E

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Not Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Customer r...
View Answer

Correct Answer
verified