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Exam 3: Customer Relationship Management Strategies for Business Markets

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Question 1

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Buying firms prefer a more collaborative relationship when the supply market is dynamic.

A) True
B) False

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Question 2

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Large firms tend to make up the majority of the most profitable customers AND of the least profitable customers. What are some of the characteristics that define both high-cost-to-serve and low-cost-to-serve customers? What can business marketers do to manage high and low cost-to-serve customers?

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Question 3

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

All customers hold similar amounts of growth potential.

To optimize the purchasing strategy,buying firms across industries are beginning to segment the supply base: buyers seek a close relationship for strategic purchases and employ a more distant arm's-length approach in procuring non-strategic items. Describe the resulting implications for firms that are evaluating potential customers to target with relationship marketing strategies.

Collaborative exchange features very close information,social,and operational linkages as well as mutual commitments made in expectation of long-run benefits.

Please identify the three main components of a strong customer-relating capability and how each component helps develop a strong customer-relating capability. How does customer-relating capability lead to a relationship advantage?

_____ exists when one party has confidence in a partner's reliability and integrity.

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

Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular relationship. Which of the following statements is(are) true?

The open exchange of information is a characteristic of ____ relationships.

For transactional customers,the business marketer should:

Having a relationship orientation is critical to developing a customer-relating capability.

Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular account. Describe the product and market conditions that support a collaborative relationship? a transactional relationship?

Using the continuum of working relationships,the industry bandwidth refers to:

_____ reflect(s) the degree to which the systems,procedures,and routines of the buying and selling firms have been connected to facilitate operations.

Which of the following statements about buyer-seller relationships is(are) true?

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

Transactional exchange centers on the timely delivery of basic products for highly competitive market prices.

When the focus of the selling firm shifts from attracting customers to keeping customers,these exchanges are best described as: