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Relationship Marketing Flashcards | StudBud
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Relationship Marketing
Relationship Marketing
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#RelationshipMarketing #RM #CRM #TQM #IMC
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
Does implementing a TQM system mean creating or changing the company culture?
No
Yes
2
Which of the below stated is NOT a business relationship?
B2C
B2P
C2C
B2B
3
What is needed to make a customer loyal?
Identifying, transforming, keeping
Wanting, believing, doing
Pricing, shopping, delivering
Trust, satisfaction, commitment
4
The evolution of Marketing has evolved from which concepts regarding Relationship Marketing
Marketing, Production, Sales, Societal Marketing
Sales, Societal Marketing, Production, Marketing
Societal Marketing, Sales, Marketing, Production
Production, Sales, Marketing, Societal Marketing
5
Which one of the following is the best explanation of Relationship Marketing?
Using your friends and family to make sales
Building a referral network for sales
Selling mainly product features to your friends and family
Building long-term relationships with your customers
6
The definition of the quality is referred to as?
Superior
Right the first time
Fitness for use
Expensive
7
Your school is implementing a new CRM initiative. Which question should they ask?
How do we work together and share control?
How do we increase our capacity for change?
All of the above
What do our customer want and expect?
8
This marketing strategy puts the emphasis on personalised interaction with customers; what is__
one-to-one marketing
transactional marketing
Cross-selling
Buyer pays
9
______ techniques can be used to learn more about current and potential customers
Data mining
Customer loyalty
Total quality management
Strategic partnership
10
What does the acronym 'CLV' stand for?
Customer logical valuation
Customer lifetime value
Companies logical value
Company lifetime valuation
11
Which of the following is a principle of Total Quality Management?
Continuous value enhancement
Continuous process improvement
Continuous productivity improvement
Continuous defect elimination
12
Which one of the following is NOT Customer Relationship Management system used in big companies
Oracle
Zoho
SAP
Microsoft
13
Customer service representatives must have _____
Sullen face
Empathy
Strict procedures
Stern voice
14
A tool or process used to create more value for customer is
Delivery network
Supply chain
Value chain
Value delivery network
15
Strategy and process for managing a company's relationships and interactions with customers is
Customer Relationship Management
Relationship Marketing
Transactional Marketing
Customer Relationship System
16
Which of the following is an example of the advantages of CRM?
Allows greater competition based on service than price
Decreases advertising costs
Prevents overspending on low-value customers
All of the above
17
A Touch Point is __________
Exceeding expectations
Anytime a service provider comes into contact with customers
Service recovery
A type of social media
18
______ : the progression of steps customers go through when buying and being loyal to a product
Impulsive buying
Customer lifecycle
Progressive buying
Purchasing plan
19
A person feeling of pleasure towards a product performance that match expectations is called
Dissatisfaction
Satisfaction
Distinctive proposition
Superior value
20
Process of customers switching between products or companies
Internal failure
Churn
Ethics
Retention
21
Collection of individual customer comprehensive information which is accessible and actionable
Detailed database
Company database
Individual database
Customer database
22
Comment cards, phone surveys, and exit interviews provide valuable
Customer feedback
Channel partners
Churn rate
Retention
23
Forms of direct marketing includes
direct mail marketing
personal selling
All of above
catalog marketing
24
Pick out the name of the tools used in customer profiles, sales management, and productivity.
Customer Relationship Management
Customer Relationship Management System
Relationship Marketing System
Relationship Marketing
25
The various ways the firm strategically communicates its message about its product marketplace
ECR
CRM
IMC
TQM
26
What is Customer Lifetime Value?
How much money a customer is spending with the company
Predicting the net profit (value) during a lifetime
The projected future cash of a company spent by a customer
An accurate valuation of the lifetime cost of a client
27
What does it mean by having an ISO 9000 certified business?
Has shown that it produces high quality product
Has shown that it has quality system in place
Has demonstrated six sigma
Has demonstrated a quality reputation
28
When customers do NOT contribute in value creation, it is evidence of _________
Promotional Marketing
Transactional Marketing
Direct Marketing
Relationship Marketing
29
What are typical CRM functions?
Storage of customer data & interactions to allow analysis
Customer service & fulfilment of awards including returns
Mid-end and low-end solutions which serve all customer needs
Personalized offers you receive which are targeted 1 on 1
30
Ongoing efforts by an organization to build relationships with customers result in
QR codes
Churn rate
Waiting lines
Customer retention
