20 terms

Relationship Marketing

Advocate, a person who not only buys the company's products but recommends them to others
One of the highest levels of loyalty a customer may develop to a marketing firm is that of:
Retaining; more expensive
Relationship marketing focuses more attention on _________ customers because new customers are _________ compared to existing customers
Create long-term, cost-effective links with individual customers for mutual benefit
Relationship marketing can help an organisation:
Relationship marketing
_____ is a strategy that entails forging long-term partnerships with customers
Relationship marketing
Frequent-flyer programs are an example of financial incentives to customers in exchange for their continuing patronage. After flying a certain number of miles or flying a specified number of times, the frequent-flyer program participant earns a free flight or some other award such as free lodging. Airlines that use frequent-flyer programs are practicing:
Large database of customers
Which of the following is NOT a necessary feature of relationship marketing?
Customer relationship management (CRM) systems
Software systems that provide all staff with a complete view of the history and status of each customer are called:
Customer Relationship Marketing
All marketing activities and strategies used to retain customers are called:
Customer satisfaction
A state of mind reached when the provision of goods or services meets or exceeds a customer's pre-purchase expectations of quality and service is called
Customer Acquisition
All marketing activities and strategies used by organisations to attract new customers are called
Customer Retention
All marketing activities and strategies used by organisations to keep current customers are called:
Customer relationship cycle
There are three stages that a customer moves through during their relationship with an organisation. These stages are customer acquisition, development and retention and are called the:
Perceived risk
What term refers to the real and imagined risks that customers consider when purchasing products and services?
Perceived value
A customer's estimate of the extent to which a product or service can satisfy their needs is known as:
Switching costs
All the direct and indirect costs incurred by buyers when they change supplier are known as
The degree of confidence that one person (or organisation) has in another to fulfil an obligation or responsibility
Core product/service-the bundle of attributes, features, and benefits which must reach competitive levels if a relationship is to develop; support services and systems; Technical performance; Elements of customer interaction; Affective dimensions of services.
Which of the following is a contributor to customer satisfaction?
Competing goals
A number of factors can be a cause of conflict between partners. When two organizations adopt marketing goals that are incompatible, this is an example of which type of cause of conflict?
Transactional exchanges
These types of exchanges are characterized by short-term, product- or price-oriented exchanges, between buyers and sellers coming together for one-off exchanges independent of any other or subsequent exchanges
Collaborative exchanges
These types of exchanges are characterized by a long-term orientation, where there is complete integration of systems and processes and the relationship is motivated by partnership and mutual support