Deck 10: Managing Customers

Question 1

_______ is that the supplier firm strives to retain the working relationship as long as it enables both supplier and customer to each achieve their respective strategic objectives.

A)Customer selection
B)Ordering selection
C)Growth
D)Continuity

Answer 1

D

Question 2

_______ in a working relationship is the firm's belief that another company will perform actions that will result in positive outcomes for the firm,as well as not take unexpected actions that would result in negative outcomes for the firm.

A)Bridging
B)Trust
C)Commitment
D)Guarantee

Answer 2

B

Question 3

To _______,business market managers either eliminate certain standard elements from the market offering entirely or transform them into options.

A)flare out by unbundling
B)flare out with augmentation
C)harvest
D)risk share

Answer 3

A

Question 4

_______ is the establishment of multiple levels of communications between firms,across functions,management levels,and business strands.

A)Bridging
B)Trust
C)Commitment
D)Guarantee

Question 5

_______ captures the perceived continuity or growth in the relationship between two firms.It entails a desire to develop a stable relationship,a willingness to make short-term sacrifices to maintain the relationship,and a confidence in the stability of the relationship.

A)Bridging
B)Trust
C)Commitment
D)Guarantee

Question 6

________ pays attention to individual accounts,is tactical in nature,and focuses on short-term resource utilization.

A)Customer selection
B)Order selection
C)Target selection
D)Market selection

Question 7

To _______,managers draw on the practices of more collaborative industries and add new programs and systems that collaborative accounts will value to the standard offering,or as options.Significantly,the supplier may not offer a number of these new programs and systems to transactional customers,even as options.

A)flare out by unbundling
B)flare out with augmentation
C)harvest
D)risk share

Question 8

Under _______ the firms legally agree to have a third party settle the disagreement and the decision is final and legally binding.

A)cooperation
B)mediation
C)arbitration
D)coordination

Question 9

Rather than occupying a single point on the working relationship continuum,each marketplace is better characterized as a range of customer relationships that are more collaborative or more transactional in nature relative to that marketplace's norm.This range is the ________.

A)transactional relationships range
B)collaborative relationships range
C)managing customer relationships range
D)industry bandwidth of working relationships.

Question 10

_______ is the formal and informal sharing of meaningful and timely information between firms.

A)Customer selection
B)Ordering selection
C)Communication
D)Continuity

Question 11

_______ is that the supplier firm works to increase its profitable share of the customer's business and to become an irreplaceable partner.

A)Customer selection
B)Ordering selection
C)Growth
D)Continuity

Question 12

_______ is a process in which a customer firm and supplier firm form strong and extensive social,economic,service,and technical ties over time.

A)Transactional relationships
B)Managing customer relationships
C)Partnering
D)Customer selection

Question 13

_______ entails actions firms take in interdependent relationships to achieve mutual or singular outcomes with expected reciprocation over time.To encourage it,business market managers promote shared norms concerning how to work together,how to jointly create value,and how to share benefits.

A)Cooperation
B)Mediation
C)Commitment
D)Coordination

Question 14

________ pays attention to individual accounts,is based on the supplier firm's mission and strategic intent,and takes competencies and capabilities into consideration.

A)Customer selection
B)Order selection
C)Target selection
D)Market selection

Question 15

A _______ balances supply and demand for a given offering.

A)service recovery system
B)market-clearing price
C)commitment
D)coordination

Question 16

Through a _______,one firm promises through a legally binding contract or warranty to absorb the risk and costs associated with unfulfilled promises made to a partner firm.

A)bridging
B)trust
C)commitment
D)guarantee

Question 17

________ is the process in which a third party is brought in to help resolve a dispute by either refocusing discussion on key issues or suggesting viable solutions.

A)Cooperation
B)Mediation
C)Commitment
D)Coordination

Question 18

By _______ is the customer firm's and supplier firm's synchronization of activities,resources,and capabilities to accomplish a collective set of tasks.

A)service recovery system
B)trust
C)commitment
D)coordination

Question 19

Managing customers is the process of differentiating transactional and collaborative customers,delivering offerings that fulfill the respective requirements and preferences of a portfolio of customers in a superior way,and getting a fair return in exchange.

Question 20

A _______ entails the resources,procedures,and authority that empower and enable front-line personnel to resolve customer problems or compensate customers for unexpected lapses in service.

A)service recovery system
B)trust
C)commitment
D)guarantee

Question 21

The business network is interconnections among relevant people and organizations within which each dyadic relationship is embedded.

Question 22

In mature business markets,a large number of high-purchase-volume customers tend to be switchers,according to the Loyalty Ladder.

Question 23

A risk-sharing,gain-sharing agreement is the bundling of customer strategy and processes,supported by relevant software,for the purpose of improving customer loyalty and,eventually,corporate profitability.

Question 24

Business market managers should limit the evaluation of relationships to quantitative,activity-based costing data and transaction price data especially in partnering when qualitative measures do not contribute good information.